The decision to scrap the merger agreement between Farragut Mortgage and J.I. Kislak goes deeper than the accounting issues cited in the press release, accounting to sources.

Though various and complex, the factors that led to the dissolution of the merger agreement are mostly tied to Farragut's poor performance over the past several months. "It was just not the same deal now as it was in July." said a source.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.