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|Mortgage Brokers Alert: American Home Mortgage Corp. of New York|
|On August 2, 2007, the New Jersey Department of Banking and Insurance issued legal documents ordering American Home Mortgage Corp. of New York and American Home Mortgage Acceptance, Inc. to stop doing business in the state and took the initial step toward revoking the companies' mortgage lender licenses.
All brokers should have been instructed to immediately seek alternative funding sources with which to close any loans previously placed at American Home Mortgage and American Home Mortgage Acceptance.
American Home Mortgage and American Home Mortgage Acceptance is actively pursuing alternative financial contacts for brokers to place their loans. The New Jersey Department of Banking and Insurance is working with industry leaders to facilitate other potential funding sources.
For questions regarding American Home Mortgage or American Home Mortgage Acceptance , contact John Kallas at 516-495-7037.
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State of New Jersey
New Jersey Department of Banking and Insurance