SouthStar Funding, LLC, headquartered in Atlanta, Ga., has announced the loss of its funding sources, and thus the ability to close on any loans that are not currently funded, or loans currently in its pipeline.
On April 13, 2007, the New Jersey Department of Banking and Insurance issued legal documents ordering SouthStar to stop doing business in the state and took the initial step toward revoking the company's mortgage lender license.
All brokers should have been instructed to immediately seek alternative funding sources with which to close any loans previously placed at SouthStar.
The New Jersey Department of Banking and Insurance is working with industry leaders to facilitate other potential funding sources. |
| Contact NJDOBI |
If you experience problems closing a loan for SouthStar Funding, LLC, call:
John Pavlovsky, Field Manager
609-292-7272, ext. 50553
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