American Home Mortgage

From Recessipedia

American Home Mortgage was one of the largest retail mortgage lenders in the US housing market before filing for bankruptcy in August 2007. The principal cause of failure was "liquidity issues resulting from disruptions in the secondary mortgage market". ^[1] As the company was forced to write-down the value of nonperforming loans, lenders began issuing margins call which threatened the solvency of the company and eventually brought it down.^[2]

Notes

1. ↑ Associated Press "American Home Mortgage Seeks Chapter 11 Bankruptcy Protection" New York Times (August 7 2007): http://www.nytimes.com/2007/08/07/business/07home.html
2. ↑ Dash, Eric "American Home Mortgage Says It Will Close" New York Times (August 3 2007): http://www.nytimes.com/2007/08/03/business/03lender.html