Nonconforming loan giant Aegis Mortgage Corp., Houston, has closed its correspondent lending division, industry officials have told MortgageWire.Although the company's spokesperson did not return telephone calls, an official at the lender's headquarters confirmed that the division bought its last loan in December. "It's been shut down," the official said. Aegis, which also funds mortgages through retail and wholesale means, ranks 18th nationwide among subprime funders, according to the Quarterly Data Report, an affiliate of MW. (For the full story, see the Jan. 23 issue of National Mortgage News.)

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry