Company to Loan Holders: Your Check Will Not Be In The Mail

American Home Mortgage, based in Irving, couldn’t be happy with the following sentence from this story:

American Home Mortgage Investment Corp. shares plunged 90 percent after the lender said it doesn’t have cash to fund new loans, stranding thousands of home buyers and putting the company on the brink of failure.

Then again, I’m not a business guy. Maybe this is just a “restructuring.”

Update: Not based in Irving. Based in New York. The servicing center is in Irving.

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