Trend in Mortgage Lender Bankruptcies?
Author: Diana Heeb Bivona
The recent bankruptcy of Las Vegas-based, short-term mortgage lender, USA Capital continues to send shock waves through the investment community. More troubling is the fact that USA Capital is but one in a recent list of Las Vegas private lender failures which includes Harley Harmon Mortgage, Interstate Mortgage Group and Global Express Capital. Given the current cooling of the Las Vegas real estate market, many investors are wondering if this is a trend that will continue into the not so distant future.