Today’s updated website,“LoanCity is closed for business. Today March 20, 2007 is the last day we will be funding loans. To our customers, our staff and business partners - we thank you.”. I never funded any loans with them, but I believe they were more of a conforming lender, and shouldn’t necessarily be lumped into the “Subprime Implosion”. I thought their passing was worth note because they were truly an innovator in our industry. The contribution they deserve credit for in this blogging obituary is their early adoption of online technology and drive to move it forward. All of the competition is at a least a little better for Loan City’s online focus. Automated underwriting, online rate locks, and digital docs are commonplace today thanks to the efforts of lenders like Loan City.
Mortgage Industry Professionals. Like what you see?
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