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American Brokers Conduit is out of business

Fri Aug 3, 2007 12:08AM | By Tony

See more in Economy | Permalink | Email | Comments (0)

I knew about it on Tuesday, and this is very unsettling. The American Brokers Conduit, or ABC definitely was a large lender, I suspect somewhere in the first 10 in the US. Yet I haven't seen much buzz about it. With all the problems in the mortgage industry that have been going for the last year or so, when lender of that size is going under, one way or the other, only more bad things will happen. It is not a matter of if, but how soon the hell unravels.

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