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Displaced Mortgage Brokers Find Security in Alternative Financing
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Monday, March 24, 2008
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As the real estate crisis continues to bear down on credit-crunched America, displaced mortgage brokers across the country are finding familiar work in the alternative financing arena, most notably in securing merchant cash advances for cash-strapped business owners.
Sean Oppen, co-founder of 1st Merchant Cash Advance, a leading provider of merchant cash advances, said his firm has grown to include nearly 1,000 independent sales offices in the wake of the lending crisis. “Dozens of mortgage lenders left the industry this year as defaults rose, housing prices stagnated and borrowing costs increased, leaving thousands of talented mortgage brokers with nowhere to turn. We’re pleased our firm could provide hundreds of them with access to a successful market,” said Oppen.
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Read Entire Article on PR Urgent
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