Real estate lender files bankruptcy.

[nutforslots]

This can't be good for Nevadas real estate industry. Its got to be a bad sign when one of the top lenders files bankruptcy.

Integrated Financial Associates Inc., a licensed mortgage broker, also filed for Chapter 11 reorganization.

As a hard money lender, the company said it originates, underwrites, funds and services short-term real estate loans on behalf of investors.

This industry, which boomed during the mid 2000s in Southern Nevada, has suffered with the recession and associated foreclosures.

The Integrated petition, signed by President William Dyer, listed $44.9 million in liabilities against assets of $7.5 million.

There were also some construction companies and a flooring company in the list of recent filings. I hope that things pick up for the state and that this will be the last of this sort of thing that we see for a while.