Developing Story! Logan Finance Shocks Georgia Brokers. Lender Pulls Plug On Consumer Loans In Georgia.
Logan Finance has shocked Georgia mortgage brokers with shock announcement. The Arkansas-based wholesale lender has pulled out of the Georgia. The company made the shock announcement yesterday.
Lender Meltdown has spoken to mortgage brokers across the country. They all love Logan Finance. Loan Finance offers a variety of different products for real estate investors. Brokers also say Logan’s underwriting is the smoothest in the industry. In other words, if it makes sense, they’ll fund it.
So the million dollar question is, why would they pull out of Georgia? Georgia’s economic and real estate market are strong considering rising interest rates and slowing housing demand. So, why?
We’ve spoke to some industry insiders about their take on it and they were as baffled as everyone else. However, some suspected that Logan Finance is experiencing a high default rate on their outstanding loans. Other industry insiders believe the lender projects a high default rate in Georgia on the horizon. Thus, they are trying to curb any future loses in the peach state.
Who Is Logan Financial?
In business since 1949, Logan Finance has been in business since 1949. The company prides itself for it’s high level of customer experience in the mortgage industry. The company operates through correspondent and wholesale channels. In addition to it’s retail channels. Our focus on the best loan experience for all our customers and partners remains to this day. Logan Finance has a reputation for being, “The Agency of Non-Agencies”.
The company offers non-agency conventional loan products and non-agency loans. Logan’s Correspondent and Wholesale channels also focus on Non-Agency products including DSCR, Bank Statement, Full-Doc Jumbo, and Asset Qualification loans.