Ivanhoe Mortgage Closes Doors

Ivanhoe Mortgage, a $2 billion-a-year conventional/government lender based in Orlando, Fla., has closed its doors, according to industry officials familiar with the company.As of MortgageWire's deadline, company executives could not be reached for comment. A year ago Ivanhoe merged with nondepository Central Pacific Mortgage, Folsom, Calif., which recently agreed to sell its wholesale division to TMSF Holdings, Los Angeles. It is not known whether Ivanhoe is part of that transaction. (It does not appear to be.) CPM is headed by former Mortgage Bankers Association chief John Courson. Officials at CPM and TMSF could not be reached for comment. On Ivanhoe's website there was no notice of its closure. It employed about 300, including wholesale account executives. Company president Paul Reich could not be reached for comment at his Florida home. (See the March 5 issue of National Mortgage News for the full story.)