SCME Mortgage Bankers, San Diego, pulled the plug Friday on its wholesale lending operation, according to mortgage sources that have done business with the company.At deadline time, SCME officials had not returned telephone calls about the matter. An e-mail message forwarded to MortgageWire that supposedly came from SCME states: "Effective the close of business today, September 28th, 2007, SCME will no longer accept wholesale business." According to the Mortgage Industry Directory, a SourceMedia publication, SCME ranked 83rd among residential funders last year, with roughly 96% of its $5 billion production coming from the wholesale channel. The company can be found online at http://www.scmeonline.com.
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