Windsor Capital Not Shutting Down After All

Windsor Capital Mortgage Corp., the San Diego-based company that was once the nation's second largest mortgage broker according to Broker magazine, is not filing for bankruptcy or closing down, said its chief executive Ron Temko. Instead, the company is becoming a "boutique-type" mortgage originator and shedding "a lot" of its branches, he explained. Reports that the company is filing for bankruptcy are "not accurate." Approximately two-and-one-half weeks ago, Windsor sent a letter to its branches saying it is establishing minimum production requirements and terminating any branch that did not meet those. Mr. Temko said the company, which once operated in 40 states, would now basically operate in California. Everything, he said, is being handled in an orderly fashion. "There is no fire drill here," Mr. Temko said, adding everyone will be paid the commissions they are owed.