Athas Capital -- refusing WFG

Several times a year, an agent or direct office is advised that WFG (and certain other companies) may not insure any transactions with Athas Capital, a "Hard Money" non-QM lender out of Calabasas, CA. Their position apparently arises from a 2015 claim in which Athas didn't agree with WFG's unwillingness to pay all their expenses in the borrower's bankruptcy which were unrelated to title.

Don O'Neill has worked extensively (and thus far unsuccessfully) with Athas. Jeff Leung engaged Bush Neilsen to evaluate our handling of the claim and he wrote a letter in which he concluded WFG handled the claim timely and properly, and actually paid expenses for Athas beyond those covered by the policy. This letter has been shared with senior leadership at Athas.

We like to be loved by all of our customers, and when these questions come up, the underwriting team needs to be in a position to explain the background.