In our earlier release, “Mortgage Lender’s Bankruptcy Would Have Severe Impact on Consumers,” some companies were incorrectly cited as bankrupt. The corrected paragraph is below:
Many other lenders that specialize in higher-risk lending have already gone bankrupt such as Delta Financial and New Century Financial. Plus, many more have substantially exited the business, including NovaStar Financial, Decision One (part of HSBC), Option One Mortgage (owned by H&R Block). These events have significantly reduced the availability of mortgages to consumers.
