Ask WECT

February 3, 2010

Did AAXA Mortgage in Wilmington shut down as of 2/2?

Filed under: Uncategorized — WECT @ 10:12 pm

Patty Davis asks…

I have heard that AAXA Mortgage in Wilmington has been shut down as of 2/2.
Can you verify that this is true?

The answer is yes and no.  The business has not shut down yet, but it is in the process of wrapping up its business.  We spoke with operations manager Brian Mitchell today by phone.  He says the companies national partner, which owned 51% of the AAXA mortgage company failed to get the proper licensing approval from the federal government.

AAXA can’t take on new business, but they are working on existing loans.  WECT’s Kristy Ondo found the workers continuing on, despite the tough news Wednesday.  More than sixty people are affected by this in Wilmington.  The company has done business out of Wilmington for a decade.

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1 Comment »

  1. Blue Cross Blue Shield of NC is the primary NC government health insurer. BCBS has raised their premiums once again 8+% again for the coming fiscal year after an 8+% premium increase for the current fiscal year as teachers and other employees are being laid off to the detriment of an already damaged school system. BCBS claims profits are down from the 5-8% norm
    to 2%. BCBS is a NON profit. BCBS is taking advantage of the State at its employees expense. The BS in BCBS is exactly what it is. BCBS has experienced incredible profits in past years and 2% is substantial. There’s no need for these increases, few companies experience these type margins year after year and profits will return but premiums wont decrease. Why does North Carolina continue with BCBS surely there are other companies willing to cover such a large base? Is BCBS for real?
    Hey GOV. BEV. are you just going to let this continue? Believe it or not, Health Care premiums are negotiable not set in stone. Blue Cross Blue Shield would be severely impaired with out all that government money, Oh! excuse me my money!

    Comment by Ralph Woollaston — March 19, 2010 @ 10:40 pm | Reply


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