DDN Services provided services for residential real estate, commercial real estate, and provided mortgage services. Unfortunately due to the decline in new construction and for lawsuits filed against the company, DDN services is closing its doors.
DDN Services and DDN Mortgage Services regret to announce that due to market conditions in the construction lending industry, government intervention in the normal foreclosure process, and frivolous and baseless lawsuits filed against the company, we will cease operations effective Monday, December 21st, 2009.
DDN Services, like most appraisal management companies, pays its independent contractors twice a month. An email sent out to all of its inspectors today stated that they would be unable to pay its December payables. This is unfortunate and a little scary for independent contractors.
How would your appraisal business do if one or more of your clients suddenly closed its doors?
You can view the announcement from DDN Services Here.
Posted by Bryan McDonald (Follow me on Twitter)
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