Just got this in...
"Industry sources are today circulating news that Bluestone Mort gages has stopped residential originations and is yet another casualty of the Credit Crisis.
Representatives from Bluestone have been contacting their clients advising that they will no longer accept new originations and current pipeline loans will not be able to be funded.
It had been expected that Bluestone would continue to settle a select number of deals per month for their top tier brokers until a future warehouse had been secured, but sources state that Westpac suddenly stopped whatever little funds were left."
A Queen song comes to mind
"Industry sources are today circulating news that Bluestone Mort gages has stopped residential originations and is yet another casualty of the Credit Crisis.
Representatives from Bluestone have been contacting their clients advising that they will no longer accept new originations and current pipeline loans will not be able to be funded.
It had been expected that Bluestone would continue to settle a select number of deals per month for their top tier brokers until a future warehouse had been secured, but sources state that Westpac suddenly stopped whatever little funds were left."
A Queen song comes to mind
