A correspondent investor, wholesale lender and bank were among recent mortgage-related entities to meet their end. A failed credit union is back, though.
Back in May, the Pennsylvania Department of Banking and Securities seized and shut down First CornerStone Bank in King of Prussia, Pennsylvania.
As of March 31 of this year, the failed financial institution had $103 million in total assets — which were not much more than its total deposits of $101 million.
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From:: Financing