Capital One Mortgage Company Down?

6 Replies

Does anyone know what's going on with Capital One Mortgage?

Closing on a property in 8 days and my realtor tells me they have fired everyone and are out of business? They aren't picking up the phone and the website is down.

Should I assume I'm not getting a mortgage through them and figure something else out? Everything was ready to go.

@Gene Fish They were shady with me a couple of weeks when I was chatting with them on Lines of Credit. Would not suprise me if they cleaned house or had a CPFB investigation going on. 

Capital One to cut 950 jobs nationwide as it shutters its mortgage origination business

http://www.richmond.com/business/local/capital-one-to-cut-jobs-nationwide-as-its-shutter-its/article_7a8969e3-7171-5913-8f94-c8c115551469.html

ah nice thanks. it says this. so hopefully I'm good?

"The McLean-based credit card issuer and bank will service its existing and pending mortgage loans." 

What happened? Bad loans? Fraud or just a line of business that did not work out for Cap One. A mortgage company going out of business brings back some memories from a few years back!!!

@Gene Fish if they are not picking up the phone I would start looking for a new lender.

yup! I have one lined up. just dunno how it'll work if I start to apply and then Capital One DOES come through. don't want to waste the other lender's time. doubtful he gets it done in 8 days also...will need to make arrangements for two families for prob at least a week.

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