Entry Details

About the Entry

Category: 
Online > Online Breaking News Coverage > Northeast

Title of entry: 
Hometown Lenders' implosion

Issue or Publication date:
6/7/2023, 8/8/2023, 8/24/2023, 10/27/2023

Publication name: 
National Mortgage News

Publishing/parent company: 
Arizent

View Website home page:
https://www.nationalmortgagenews.com/

Description of the enterprising work that went into this entry and its significance or impact on readers:

At a time when mortgage originations have declined far below the levels hit in the boom years of 2020 and 2021, many home lending shops are struggling to stay open. Reporter Maria Volkova broke the story of Hometown Lender’s implosion during this downturn, documenting the organizational failures of this business’s profit and loss model that led to branch managers fronting the bills for office rent and utilities in order to literally keep the lights on. Maria spoke with many Hometown employees over several months, building trust with them and confirming details among that cohort in addition to reviewing reams of documentation to report out this story. It’s entirely crucial in this tougher market for lenders to learn about cases like that of Hometown, to learn about how their peers have failed, so that they can avoid the same fate.

Links to entry URLs

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Entry URL(s), if applicable:
Please enter a URL that will direct judges to the entry: 
https://www.nationalmortgagenews.com/news/hometown-lenders-not-paying-rent-utilities-employees-allege
Additional URLs, if needed:
https://www.nationalmortgagenews.com/news/hometowns-top-branch-heads-for-the-door-legal-woes-brew
https://www.nationalmortgagenews.com/news/hometown-lenders-sued-for-1m-by-former-branch-managers
https://www.nationalmortgagenews.com/news/hometown-lenders-faces-cease-and-desist-1m-in-unpaid-taxes