Ddn ceases services

[Peter W. Bennett]

For those of you who are doing draw loan inspections... NOT
just got this email:
"To all Inspectors/Builders:
Due to the continuing decline of the construction markets, government intervention in the foreclosure process, and frivolous lawsuits filed against the company, DDN Services has ceased operations effective today. We no longer have any staff to accept your calls.
We have been operating using a line of credit since April and that line of credit has now been exhausted and we have no further funds on which to operate. The December 15th and December 30th inspector payables cannot be released or mailed for this reason. We regret this occurring, but have made every effort to develop new business for the last 2 years and have exhausted our financial resources. We do not anticipate being able to make further payments to inspectors.
We will send an email update on January 5th to provide a status update.
Doug Stuart"