We have learned that Capitol Commerce
Mortgage Corporation closed its doors August 15, 2003. Capitol is a
wholesale mortgage lender that resells the loans it makes to other lenders.
Consumers who had applications pending with Capitol; loans
that were approved but not yet funded; or loans that were made but not resold
by the time Capitol closed its doors should immediately contact their brokers
to determine their options.
Brokers should contact their account executive with Capitol,
if they can reach them, to determine the status of the loan file and determine
when the files can be picked up.
The Department of Consumer and Business Services (DCBS) will
post additional information on this site as we learn more about the demise
of this mortgage lender.
In the meantime, consumers may file a complaint on-line
with DCBS. In addition, consumers and brokers may contact
the division with questions or information during normal business hours.