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Capital One confirms Discover home equity shutdown | Asset Securitization Report
This message appears on the Discover web site:
"Discover Home Loans is no longer accepting applications for new home equity or mortgage refinance loans, although we will continue to process applications that are in progress."
I wonder who they will sell the exisitng portfolio to.
Many people suspected changes from the new Capital One FInancial? Now, the hammer drops! Time to watch for potential other modifications.
There is a good probability that my Discover relationship will end. Like other posters have stated, we have many fish in the sea. My account usage has virtually dried up as my spending pattern has been modified.
On the personal loan side - I don't know if this is a change but it's the 1st time I've had an open Discover PL and received an invitation to open a 2nd, with option to also transfer balance of my existing loan into the new loan. I've previously used Discover PL's and never received a loan invite while already having an outstanding loan.
@TrapLine wrote:Many people suspected changes from the new Capital One FInancial? Now, the hammer drops! Time to watch for potential other modifications.
There is a good probability that my Discover relationship will end. Like other posters have stated, we have many fish in the sea. My account usage has virtually dried up as my spending pattern has been modified.
RIP Discover...Oh Danny Boy .....