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THURSDAY, NOVEMBER 26, 2009
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PREMIUM NEWS ARCHIVE

bizworld: American home mortgage unravels amid subprime lending troubles.(Business)

Article from: The Virginian Pilot Article date: August 4, 2007

MELVILLE, N.Y. [bar] Some companies fade away over time. American Home Mortgage Investment Corp. is disappearing right before its 7,000 employees' eyes. The latest victim of the subprime mortgage implosion has run out of money, and now its workers have run out of time.

"I thought it was like a dream," said Saikumar Bullachi as he left the company's Long Island headquarters Friday morning for the last time. "Suddenly, you know, somebody wakes you up and says it's all over now."

American Home Mortgage, which has been ...

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