Implode O Meter tracking mortgage lenders in trouble: is it right

As we know the housing market is in a bit of a bad way at the moment and this is showing on mortgage lenders, now a new website called Mortgage Lender Implode-O-Meter are now tracking those lenders who are in trouble.

Today the amount of lenders facing troubles are now at 266 and that number is rising all the time, so is this website any use to anyone or is it just a way for people to see the misery in the housing market and the effects that it is having on mortgage lenders.
It seems that ml-implode.com has got the attention of the Mortgage Bankers Association; at a recent conference the speaker had addressed those at the meeting by advising them how to keep your company’s name of the site.

Aaron Krowne, a former researcher at Emory University in Atlanta, is the man behind Implode O Meter; he is a computer scientist and mathematician. The website started back in 2007, he believed that the troubles in the housing market would then affect the mortgage industry, looks like Mr. Krowne, 28, was right.

Since then, Aaron, has seen the money roll in, he has had to quit his day job and now employs 10 people for his company, Implode-Explode Heavy Industries.

It seems that as mortgage lenders are facing a tough time, Implode-O-Meter is able to capitalize from this as more and more people are finding themselves on this fated list.

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