Lehman Lays Off Workers, Changes Name So No One Notices
Blownmortgage reports:
“Today Lehman Brothers announced the completion of the restructuring plan for its residential mortgage origination business. The plan sizes the business appropriately for the current market environment. The Firm also announced that it will rename its existing mortgage origination and servicing businesses in the U.S., Japan and Europe, including Aurora Loan Services, Lehman Mortgage Capital.”
Now there is a creative method of avoiding negative press, rename yourself! Kind of like the restaurant down the street that changes its name every time the paper publishes that it has failed the latest health inspection and been closed for severe contamination.
Considering the large amount of confusion now faced in the lending market, one should be picky when obtaining a Utah home equity loan, or any mortgage loan. Careful research can prevent future problems, as well as help smooth the lending process.
Carefully documenting your communications with a lender, as well as studying and reviewing all the papers you receive will help protect you during the lending process, as well as make sure you don’t get stuck with the lender that changes its name every month.
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