Colin Robertson February 21, 2007 Comments Off
A List of Mortgage Closures, Mergers and Layoffs
Colin RobertsonFebruary 21, 2007Comments Off
So why are all thesemortgage companiesconsolidating, laying off
employees, sending out warnings, and going out of business?
Well, a recent statistic revealed that 2.33% of all US mortgages
are currently delinquent, a number which is sure to rise. And
repurchases have tripled between the first and second quarter of
2006.
Not to mention declining home values in almost every
metropolitan area throughout the United States, sky-high home
prices, rampant fraud, a deteriorating secondary market and
unmanageable mortgage payments.
I recently began addingmortgage lendersfrom parts of the world
other than the United States that have issued profit warnings, as
well as companies that remain open but have been affected seriously
by themortgage crisisin one way or another.
[See the latest mortgage rates from dozens of lenders, updated
daily.]
According to a recent report, there were 86,126 mortgage job
cuts in 2007, with another 30,000 to 40,000 expected by early
2008.
List last updated on August 15, 2012Latest updates:Waukegan
Savings Bank shut by FDICJasper Banking Company shut by FDICSecond
Federal Savings and Loan Association of Chicago shut by
FDICHeartland Bank shut by FDICFirst Cherokee State Bank shut by
FDICGeorgia Trust Bank shut by FDICThe Royal Palm Bank of Florida
shut by FDICGlasgow Savings Bank shut by FDICWells Fargo to stop
wholesale mortgage lendingMontgomery Bank & Trust shut by
FDICFirstLine Mortgages (Canadas largestmortgage broker) to stop
mortgage lendingThe Farmers Bank of Lynchburg shut by FDICSecurity
Exchange Bank shut by FDICPutnam State Bank shut by FDICWaccamaw
Bank shut by FDICFarmers and Traders State Bank shut by
FDICCarolina Federal Savings Bank shut by FDICFirst Capital Bank
shut by FDICBank of America to lay off 675 workers in Fort
LauderdaleNationstar to buy $10.4 billion in loan servicing rights
from Bank of AmericaAlabama Trust Bank, National Association shut
by FDICAlly mortgage unit ResCap files for Chapter
11bankruptcyNationstar to acquire ResCap mortgage servicing
assetsGenworth Financial cut 70 jobsSecurity Bank, National
Association shut down by FDICFannie Mae and Freddie Mac merger?
Complete list:1st American State Bank of Minnesota shut by
FDIC1st Choice Mortgage to close, layoffs1st Pacific Bank of
California shut by FDIC1st Reverse Financial to closeAames
Investment Corp acquired by Accredited Home LendersABN Amro
Mortgage 1700 layoffsABN-Amro Hypotheken-Gruppe stopped lending in
GermanyAce Mortgage Funding shut downAccess Bank shut by
FDICAccredited Home Lenders filed bankruptcyAccredited Home Lenders
ceased wholesale lending for second time in Aug 2008Accredited Home
shut down retail lending, ceased wholesale, Lone Star
lawsuitAccredited Home
HYPERLINK
"http://www.thetruthaboutmortgage.com/accredited-home-shuts-down-retail-lending-business/"
\o "Accredited Home shut down retail lending"
HYPERLINK
"http://www.thetruthaboutmortgage.com/accredited-home-agrees-to-lower-price-drops-lawsuit/"
\o "Accredited Home agrees to Lone Star buyout" agreed to Lone Star
buyoutAccredited Home Lenders shuts four operations centers,
layoffsAccredited Home Lenders cuts 38jobs inCincinnatiACC Capital
Holdings mass layoffs, closed Ameriquest, sold wholesale to
CitigroupAcoustic Home Loans closed subprime wholesale lenderACT
Mortgage Capital suspended all submissions/fundings until further
noticeAdvanta Bank Corp. shut by FDICAdvantage Home Loans
closedAdvent Mortgage merged with New Equity MortgageAIG to buy
Equity OneAegis Funding closed, seeking bankruptcy protectionAegis
Mortgage Corp. laying off 401 employeesAffinity Bank (CA) shut by
FDICAll American Bank shut by FDICAllegiance Bank of North America
shut by FDICAlliance Bancorp closed, filed for Ch. 7
bankruptcyAlliance Bank (Culver City, CA) shut down by FDICAlliance
Title Co. shut down, layoffsAll Fund Mortgage rumored to be closed,
acquired by CarlileInvestmentsInc.Allstate Home Loans shut
downafter buyoutAlly Financial sold European mortgage
assets/operations to Fortress Investment GroupAlpha Bank &
Trust shut down by FDICALT Funding believed to have ceased
operationsAlterna Mortgage New Jersey wholesale lender
closedAlternativeFinancingCorp. wholesale division closedAltivus
Financial closed wholesale operations, now believed to be shut
downAMC Lending ceases wholesale lendingAMC Mortgage acquired by
Transnational Financial Network Inc.Amcore Bank, National
Association shut by FDICAmeriBanc Corp. ceased operationsAmeribank
Inc. shut down by FDICAmerica One Finance winding downAmerica West
Bank shut by FDICAmericanFirst Bank shut by FDICAmericasBank shut
mortgage unitAmerican Brokers Conduit shut down all
operationsAmerican Business Financial Services closedAmerican Eagle
Savings Bank shut by FDICAmerican Equity Mortgage closing 6 of 30
offices, laying off 40 employeesAmerican Freedom Mortgage filed
bankruptcyAmerican Home Mortgage closedAmerican Lending Group
merged with Premier Mortgage GroupAmerican Marine Bank shut by
FDICAmerican National Bank shut by FDICAmerican Mortgage Network
bought by WachoviaAmerican Sterling Bank halted wholesale
lendingAmerican Sterling Bank shut down by FDICAmerican Southern
Bank shut down by FDICAmerican Trust Bank shut by FDICAmerican
United Bank shut downAmeriquest closed, laid off 3,800, shut 229
retail branches after $325 million settlementAmeritrust Mortgage
Company subprime wholesale division closedAmPro Mortgage closed
(part of Alliance Bancorp)Amstar Mortgage Corp. most staff laid
off, The Money Store to take over by Dec. 15AmTrust Bank shut by
FDICANB Financial shut down by FDIC for lax lending
standardsAnworth Mortgage Asset Corp. its Belvedere subsidiary is
in default and faces margin callsApex Financial Group/Aapex
Mortgage commission checks delayed, licenses suspendedApex
Mortgage/Aapex Mortgage reportedly cease all opertionsApex Lending,
Inc. shut downAppalachian Community Bank shut by FDICAPS Mortgages
Limited (UK) independent brokerage shut downArcola Homestead
Savings Bank shut by FDICArgent sold to CitigroupAssured Lending
Corp to exit wholesale lendingAtlantic Bank and Trust shut by
FDICAtlantic Southern Bank shut by FDICAurora stopped wholesale and
correspondent lendingAurora Bank FSB cut 450 jobs in
IndianapolisAurora Loan Services 160 employees laid offAurora Loan
Services laid off 70 in Florida, 139 in NJAurora Loan Services cut
93 jobs in El Toro, CAAxix Mortgage closedBanco Santander to buy UK
lender Alliance & Leicester PLCBankAtlantic laid off 115
employeesBankEast shut by FDICBankFirst shut by FDICBank of America
shut its correspondent mortgage business, layoffsBank of America
cut 34 jobs at Saratoga Springs, NY mortgage officeBank of America
halts reverse mortgage lendingBank of America halts wholesale
mortgage lendingBank of America to cut up to 35,000 jobsBank of
America to buy CountrywideBank of America Countrywide
mergerpossibility, continued layoffsBadger State Bank shut by
FDICBank of America to cut 30,000 jobsBank of America cutting 3,000
jobs in investment banking unitBank of America to cease wholesale
lending, 700 layoffsBank of America to cut 650 jobs, sell its prime
brokerage unitBank of America cut 224 jobs in Tampa, 195 in
TroyBank of America to cut 7,500 jobspost mergerBank of America
completes purchase of CountrywideBank of America to buy Merrill
LynchBank of Choice shut by FDICBank of Clark County shut down by
FDICBank of the Commonwealth shut by the FDICBank of Ellijay shut
by FDICBank of Elmwood shut downBank of Granite and Granite
Mortgage Inc. to combine, layoffsBank of Florida (Tampa, Southwest,
Southeast) shut by FDICBank of Hiawassee shut by FDICBank of
Illinois shut by FDICBank of Leeton shut by FDICBank of Lincolnwood
shut by FDICBank of Shorewood shut by FDICBank of the Eastern Shore
shut by FDICBank of Whitman shut by FDICBank of Wyoming shut by
FDICBankMeridian shut by FDICBankUnited ceased wholesale lending,
layoffsBankUnited bank failureBankUnited to close four wholesale
mortgage sales offices, 200 layoffsBankUnited cut another 160
jobsBankUnited cut 115 jobs in Miami Lakes, FLBank USA shut
downBarclays Bank PLC bought EquifirstBarclays Bank PLC sold HomEq
Servicing to Ocwen FinancialBarnes Banking Company shut by
FDICBartow County Bank shut by FDICBasis Yield Australian hedge
fund files for bankruptcy due tosubprime lendingwoesBath Building
Society (UK) halt mortgage lendingBay Capital Corp. closedBay
National Bank shut by FDICBayRock Mortgage Corp. ceased wholesale
lendingBayside Savings Bank shut by FDICBayview Financial cut 60
jobsBB&T bought Collateral Real Estate CapitalBB&T to shut
subprime wholesale lending unitBC Bancorp shut downBC National
Banks shut by FDICBeach First National Bank shut by FDICBeacon
Financial Mortgage Bankers Corp. filed bankruptcyBear Stearns
layoffsBear Stearns closed two hedge funds after huge subprime
losses, 240 subprime layoffsBear Stearns merging Encore Credit and
Bear Stearns Residential Mortgage into one unitBear Stearns more
layoffsBear Stearns cuts 150 jobs in Irvine, CABeazer Mortgage
Corp. haltsloan originationBeazer Homes closed office, layoffs,
subpoenaed for fraudBeazer Homes cut 25% of staffBelvedere Trust
Mortgage two default notices, unlikely to pay back loansBen-Ezra
& Katz cut nearly half of staffBen-Ezra Law Firm cuts 146 jobs,
exits foreclosure spaceBenchmark Bank shut by FDICBeneficial
Finance layoffsBF Saul Wholesale Group layoffs and closures, could
be dissolvedBlackandWhite.co.uk halts lending, layoffsBlackstone
Group buying PHH MortgageBlue Ridge Savings Bank, Inc. shut by
FDICBMC Capital to acquire NMB CapitalBNC Mortgage filed
bankruptcyBNC Mortgage LLC shut down consolidated with Aurora Loan
Services layoffsBNC Mortgage cut 175 jobs in Nor. Cal, 400 in So.
CalBNY Mortgage changes name to EverBank Reverse MortgageBradford
& Bingley (UK) nationalized, 370 layoffsBradford Bank (MD) shut
by FDICBramble Savings Bank shut by FDICBrickwell Community Bank
shut down by FDICBridger Commercial Funding closingBroad Street
Mortgage sold to Wausau Mortgage Corp.Broadway Bank shut by
FDICBrokerSource ceased operationsBrooksAmerica Mortgage Corp.
temporarily suspended new loan originationsBSM Financial closed
wholesale unit BrokerSourceBudget Finance Co. layoffsButler Bank
shut by FDICButte Community Bank shut by FDICc2 Financial (UK
lender) to lay off roughly 20 percent of workforceC & G
Financial suspended funding/productionC-BASS acquired Fieldstone
Investment Group, struggling with margin callsCalifornia National
Bank shut downCalifornia TD Investments LLC filed for
bankruptcyCalPERS home loan program suspendedCalusa Investments
website down, thought to be closedCambridge Home Capital loses FHA
approvalCameron Financial Group bankruptCanyon National Bank shut
by FDICCape Fear Bank shut down by FDICCapitalSouth Bank shut down
by FDICCapital One to buy Chevy Chase BankCapital One Home Loans
shutting Overland Park office, 300+ layoffsCapital One Mortgage
2,000 layoffs planned nationwideCapital Six Funding subprime and
hard money lender suspended operationsCapitalSource Inc. to acquire
retail banking operations of Fremont GeneralCapmark Financial Group
files Chapter 11 bankruptcyCarlile Investments Inc. acquired All
Fund MortgageCarson River Community Bank shut by FDICCarteret
Mortgage Corp. to be closed down, hundreds of layoffs loomCastle
Point Mortgage will no longer accept wholesale broker
applicationsCBA Commercial said to have had sizable layoffsCBRE
Realty Finance halted lendingCentennial Bank shut by FDICCentennial
Mortgage and Funding Inc. / Award Mortgage shut downCentex Home
Equity changed its name to Nationstar MortgageCentral Bank of
Georgia shut by FDICCentral Federal Credit Union placed in
conservatorshipCentral Florida State Bank shut by FDICCentral
Pacific Mortgage closed, TMSF cancels deal to acquire
companyCentral Progressive Bank shut by FDICCentral States Mortgage
Co. suspends operationsCentury Bank FSB to halt wholesale
lendingCentury Bank FSB shut down by FDICCentury Security Bank shut
by FDICCF Bancorp shut by FDICCFIC Home Mortgage closing
downChampion Bank shut by FDICChampion Home Builders 196
layoffsChapel Funding bought by Deutsche BankCharcol Mortgages (UK)
cut up to 50 jobsCharter Bank (Santa Fe, NM) shut by FDICCharter
Funding believed to be closed by parent First Magnus
FinancialCharter Mortgage shut specialty lending unitCharter
National Bank and Trust shut by FDICCharter Oak Bank shut by
FDICCharter One exits wholesale lendingChase to buy Bear
StearnsChase closing subprime loan facilityin Ontario, CA 91
layoffsChase Washington Mutual mergerChase wholesale lending
division shut downChase shut home equity and subprime wholesale
units, layoffsChase shut warehouse lending unit, cutting another
2,800 WaMu jobsChase closed operation centers in CA and NJChase
shut home equity processing center in Rochester, 300 layoffsChase
cut roughly 100 home equity jobs in IndianapolisChase cut 9,200
Washington Mutual jobsChase de Vere Mortgage Management (UK) to
closeChase Home Finance closed retail subprime operations center in
Woodcliff, NJChase Home Finance shut 430-employee branch in
Lexington, KYChase Home Lending cut 55 jobs in San DiegoChase Home
Lending cut 52 wholesale mortgage jobs in Orange, CAChase Home
Lending cut 132 jobs in OhioChase Home Lending unit closing in
Charlotte, 92 layoffsChase Home Lending cut 266 jobs in
PennsylvaniaChase Home Mortgage halts construction lendingChase
Wholesale Lending shut four loan centers, cut 175 jobsChestatee
State Bank shut by FDICChevy Chase layoffs, to stop lending in
CAChevy Chase cut correspondent channel, facing class-action
lawsuitChevy Chase halts construction-to-perm lendingChevy Chase
seized wholesale lendingChevy Chase layoffsChicago and Dallas
Federal Home Loan Banks proposed merger offCHL Mortgages (UK) to
cut 20% of staffChoice Capital Funding rumored to be closedCIBC
layoffsCIT Group Inc. shut down mortgage division500+ layoffsCIT
files for bankruptcyCIT Group sold remaining mortgage assets to
Lone Star FundsCitadel buying ResMAECitigroup to cut 50,000+
jobsCitigroup layoffsas high as 45,000Citigroup bought ABN AMRO
Mortgage Group, acquired assets of Argent MortgageCitigroup
mortgage layoffsreportedCitigroup layoffs in collateralized debt
obligation unitCitigroup to sell or shut down First Collateral
ServicesCitigroup to layoff 2000 investment bankers/tradersCiti
stopped wholesale mortgage lendingCiti to buy WachoviaCiti to cut
9,000 jobsCiti cut about 30 jobs in structured-credit group tied to
mortgage lossesCiti to close Future Mortgages (UK) and
CitiFinancial (UK subprime), layoffsCiti cut 125 jobs in TexasCiti
to cut up to 6,500 investment banking jobsCiti correspondent
lending haltedCitiFinancial to close 376 branches, 500+ layoffsCiti
Home Equity layoffsCitiMortgage wholesale to cut jobs, drop
brokersCitiMortgage layoffs and closuresCitiMortgage halts
wholesale home equity lending, 500 layoffsCitiMortgage halted jumbo
wholesale lendingCitiMortgage cut 190 wholesale mortgage jobs in
Des Moines, IACitiMortgage Wholesale layoffs, territories
realignedCiti Residential Lending retail mortgage unit to be
consolidatedCitizens Bank mortgage layoffsCitizens Bank and Trust
Company of Chicago shut by FDICCitizens Bank of Effingham shut by
FDICCitizens Bank of Northern California shut by FDICCitizens
Community Bank shut by FDICCitizens National Bank shut downCitizens
Republic Bancorp to cut 60 jobs, mainly from mortgage
processingCitizens State Bank shut by FDICCity Bank shut by
FDICClear Choice Financial in default, Bankruptcy possibleCMXL
acquired All FundCoast Bank sold to First Banks of St. LouisCoastal
Bank shut down by FDICCoastal Community Bank shut by FDICCobalt
Capital (UK) shut downCohen Financial cut 25% of staffColdstream
Financial Services closedCollateral Real Estate Capital acquired by
BB&TColonial Bank shut by FDICColonial National Mortgage
closing operations center in OhioColonial National Mortgage to halt
wholesale lendingColony Mortgage Corp. closedColorado National Bank
shut down by FDICColumbia Bancorp shut mortgage unit, cut 39
jobsColumbia Home Loans subprime lender closedColumbia River Bank
shut by FDICColumbian Bank and Trust Co. (Kansas) shut down by
FDICCommerce Bank of Southwest Florida shut by FDICCommercial First
(UK) halted new lendingCommonwealth Bank of Australia to acquire
Wizard Home LoansCommunity Bank and Trust (Cornelia, GA) shut by
FDICCommunity Bank of Arizona shut by FDICCommunity Bank of Lemont
shut downCommunity Bank of Nevada shut by FDICCommunity Bank of
Rockmart shut by FDICCommunity Bank of West Georgia shut by
FDICCommunity Banks of Colorado shut by FDICCommunity Capital Bank
shut by FDICCommunity Central Bank shut by FDICCommunity First Bank
shut by FDICCommunity First Bank Chicago shut by FDICCommunity
National Bank shut by FDICCommunity National Bank at Bartow shut by
FDICCommunity National Bank of Sarasota County shut by
FDICCommunity One Federal Credit Union shut downCommunity Resource
Mortgage closed its wholesale lending division, layoffsCommunity
Security Bank shut by FDICComunidades Federal Credit Union of Los
Angeles shut downComUnity Lending halted operations, faces
liquidationConcord Mortgage Co. believed to be out of
businessConcorde Acceptance rumored to be closedContact 4 (UK) to
cut 108 jobsCooperative Bank shut by FDICCopper Star Bank shut by
FDICCoreStar Financial Group closedCorn Belt Bank and Trust Co.
shut down by FDICCortez Community Bank shut by FDICCorus Bank shut
down by FDICCountry Bank shut by FDICCountrywide combines wholesale
and correspondent unitsCountrywide closing wholesale fulfillment
centersCountrywide shut 16 wholesale loan fulfillment
centersCountrywide believed to have shut 46 Full Spectrum Lending
branchesCountrywide Correspondent Lending Division cut 293
jobsCountrywide Specialty Lending Division layoffsCountrywide
Capital Market Division cut 65 jobsCountrywide laid off 73
employees in Canoga ParkCountrywide layoffsinsubprime, may be
bought out by Bank of AmericaCountrywide cutting up to 12,000 jobs,
more about theCountrywide layoffsCounty Bank (Merced, CA) shut down
by FDICCovenant Bank & Trust shut by FDICCredit Suisse layoffs,
bought LIME FinancialCredit Suisse to cut 500 investment banking
jobsCredit Suisse to cut 150 jobs in its investment bank unit in
UKCredit Suisse cut 210 jobs in NYCCreekSide Bank shut by
FDICCrescent Bank and Trust Company shut by FDICCTX Mortgage
reportedly for saleCU National Mortgage halts lendingDana Capital
closedDarby Bank & Trust Co. shut by FDICDB Home Lending
consolidated with MortgageIT, layoffs, rumored to be closedDecatur
First Bank shut by FDICDeepGreen Financial closedDecision One shut
down,layoffsDelta Financial closed offices, 300 layoffsDelta
Financial bankruptcy, suspends loan originationDelta Financial
Corp. layoffsDesert Hills Bank shut by FDICDeutsche Bank
Correspondent Lending Group consolidating business to
MortgageITDiablo Funding Group shut downDirect Finance Corp.
acquired First Call Mortgage Co.Ditech 181 layoffsDitech.com cut
120 jobs at Costa Mesa, CA headquartersDollar Mortgage Corp. being
acquired by Shearson Financial NetworkDomestic Bank shutting down
wholesale unitDover Mortgage Company shutting wholesale mortgage
divisionDover Mortgage Co. cut 17 employeesDowneast Mortgage Corp.
to shut downDowney Savings shut down by the FDICDowney Savings shut
wholesale channelDraper and Kramer Mortgage merged with 1st
Advantage Mortgage LLCDwelling House Savings and Loan Association
shut by FDICeBank shut down by FDICE-Loan/Banco Popular Wholesale
Mortgage to cease lendingE-loan closed sub-prime wholesale
division, layoffsE-Loan layoffsE-Trade exits wholesale mortgage
businessE-Trade to halt mortgage lendingEarl Shilton building
society (UK) halts mortgage lendingEarthstar Bank shut by
FDICEastern Financial Florida Credit Union put in
conservatorshipEdgewater Lending Group halts wholesale lendingEgg
Mortgages (Citi-owned UK finance unit) no longer accepting
applicationsElizabeth State Bank shut by FDICEmpire Bancorp
Mortgage Bankers shut downEncore Bank laid off 300 employeesECC
Capital/Encore Credit sold to Bear Stearns, 100 layoffs announced
Aug. 17Encore Credit laid off 100 Account Executives at wholesale
unit in Irvine, CAEncore Credit merging with Bear Stearns
Residential MortgageEntrust Mortgage closedEquibanc closed by
WachoviaEquifirst shutting downEquifirst layoffs, bought out by
Barclays Bank PLCEquiFirst cut 64 jobs in ArizonaEquipoint halted
wholesale lending, shut 70+ branchesEquitable Reverse Mortgage
closed doorsEquitable Trust Mortgage Corp. suspended by FHAEquity
One (a unit of Popular Inc.) cut 147 jobs in Marlton, NJEquity
Title (owned by Coldwell Banker) layoffsEurobank shut by
FDICEvergreen Bank shut by FDICEvergreen State Bank shut by
FDICExchange Financial temporarily discontinuing its
Wholesale/Correspondent businessExpanded Mortgage Credit closed
wholesaleExpress Capital Lending not accepting new submissions
until further noticeFamily First Mortgage Corp. ceases operations,
layoffsFannie Mae layoffsFannie Mae 200 layoffsFannie Mae and
Freddie Mac bailed outFBR Capital Markets cut 75 jobsFBR selling
subprime unitFidelity Bank shut by FDICFidelity National Financial
to buy LandAmerica (large title companies)Fidelity National
Financial terminated LandAmerica mergerFidelity National
Information Services cut 35 jobs in JacksonvilleFidelity Trust Bank
selling residential mortgage company Fidelity Trust Mortgage
Inc.Fieldstone Mortgage bankruptcyFieldstone Mortgage Co. halted
new business, closed Las Vegas branch, layoffsFifth Third Bancorp
700 layoffsFifth Third to discontinueAlt-A lendingFinance America
closedFinancial Freedom cut 65 jobs in Irvine, CA officeFinancial
Title Company closing, layoffsFirst Advantage acquired
CredStarFirst American Bank to cease wholesale lendingFirst
American Corp. (title insurer) layoffs at 1,900First Arizona
Savings shut by FDICFirstBank purchased wholesale mortgage division
of StellarOne Corp.FirstBank to shut down wholesale mortgage
division Oct. 31FirstBank Financial Services shut down by
FDICFirstCity Bank shut down by FDICFirst BankAmericano shut by
FDICFirst Bank of Beverly Hills shut down by FDICFirst Bank of
Idaho shut down by FDICFirst Bank of Jacksonville shut by FDICFirst
Bank of Kansas City shut down by FDICFirst Banking Center shut by
FDICFirst Banks of St. Louis bought Coast BankFirst Centennial Bank
shut down by FDICFirst Choice Bank shut by FDICFirst Choice
Community Bank shut by FDICFirst Collateral Services (Citi) 126
layoffsFirst Collateral Services (Citi) cut 150 jobsFirst Commerce
Community Bank shut by FDICFirst Commercial Bank of Florida shut by
FDICFirst Commercial Bank of Tampa Bay shut by FDICFirst Community
Bancorp layoffsFirst Community Bank shut by FDICFirsTier Bank shut
by FDICFirst Consolidated Mortgage Co. subprime wholesaler shutting
down, in disputeFirst Coweta Bank shut down by FDICFirst DuPage
Bank shut downFirst Federal Bank of California halted wholesale
lendingFirst Federal Bank of California shut by FDICFirst Federal
Bank of North Florida shut by FDICFirst Fidelity Financial closed
its doorsFirst Franklin to be shut down, 650 layoffsFirst Franklin
Financial layoffs, sold to Merrill LynchFirst Franklin
firings/layoffs rumoredFirst Georgia Banking Company shut by
FDICFirst Georgia Community Bank shut down by FDICFirst Guaranty
Bank and Trust Company of Jacksonville shut by FDICFirst Heritage
Bank shut by FDICFirst Horizon shut down mortgage operationsFirst
Horizon cutting 1,500 jobs, closing 50 officesFirst Horizon
National Corp. divested its subprime mortgage loan portfolioFirst
Horizon discontinued national construction and commercial lending,
160 layoffsFirst Horizon to sell or shut down mortgage unitFirst
Indiana Wholesale closed wholesale consumer lending operationsFirst
Integrity Bank shut down by FDICFirst International Bank shut by
the FDICFirst Lowndes Bank shut by FDICFirst National Bank
(Rosedale, MS) shut by FDICFirst Madison Mortgage shut downFirst
Magnus no longer funding or originating any mortgage loansFirst
National Bank shut by FDICFirst National Bank of Arizona halts
retail mortgage lending, 35 layoffsFirst National Bank of Danville
shut by FDICFirst National Bank of Davis shut down by FDICFirst
National Bank of Florida shut by FDICFirst National Bank of Georgia
shut by FDICFirst National Bank of the South halts wholesale
lendingFirst National Bank of the South shut by FDICFirst National
Mortgage Sources shut downFirst NLC bankrupt, halts lendingFirst
NLC Financial Services LLC 645 layoffsFirst NLC layoffs and
closuresFirst Mariner Bancorp closed its wholesale mortgage lending
unitFirst National Bank of Anthony shut by FDICFirst National Bank
of Arizona shut down by FDICFirst National Bank of Central Florida
shut by FDICFirst PacTrust Bancorp, Inc. acquired Gateway
BancorpFirst Peoples Bank shut by FDICFirst Piedmont Bank shut by
FDICFirst Priority Bank closed by FDICFirst Regional Bank shut by
FDICFirst Security Loan Corp. to shut downFirst Security National
Bank shut by FDICFirst Source Funding Group closedFirst Southern
Bank shut by FDICFirst Southern National Bank shut by FDICFirst
State Bank shut by FDICFirst State Bank (AZ) shut down by FDICFirst
State Bank (Sarasota) shut by FDICFirst State Bank of Altus shut by
FDICFirst State Bank of Winchester shut by FDICFirst Street
Financial closedFirst Suburban National Bank shut by FDICFirst
Vietnamese American Bank shut by FDICFitch Ratings to cut 150
jobsFlagship National Bank shut downFlagstar Bancorp mortgage
layoffs, restructuringFlagstar Bancorp layoffsFlexpoint Funding
reportedly closed wholesale division, now completely shut downFlick
Mortgage closedFMF Capital LLC closedFlorida Community Bank shut by
FDICFNBA wholesale division and correspondent line shut down, 541
layoffsFort Lee Federal Savings Bank, FSB shut by FDICFortes
Financial halted lendingFortes Financial acquired five former
National City regional wholesale officesFounders Bank shut by
FDICFoxtons, Inc. filed Chapter 11 bankruptcyFranklin American
suspends jumbo wholesale lendingFranklin Bank shut down by
FDICFranklin Bank Corp. closing warehouse line, layoffsFranklin
Credit Management Corp. suspends loan acquisition and
originationFreddie Mac cut 100+ jobsFreedom Bank shut down by
FDICFreedom Bank of Georgia shut down by FDICFreedom Financial
shutting downFreestand Financial closedFremont General exited
secondary sub-prime market, layoffsFremont General filed Ch. 11
bankruptcyFremont Investment & Loan laid off 243 employees in
Ontario, CAFremont Investment & Loan cut 243 jobs in CAFrontier
Bank shut by FDICFrost Mortgage partnered with First
HoustonFundingAmerica not accepting any new businessGateway Bank
suspends wholesale lendingGateway Bank of St. Louis shut by FDICGB
Mortgage shutting downGE mulling sale of Australian mortgage unit
Wizard Home LoansGeneral Electric buying PHH CorporationGE Money
(Ireland) halted mortgage lending, cut 80 jobsGE Money (AU &
NZ) cut 335 jobsGE Money Canada to halt mortgage lendingGenworth
Financial cutting roughly 1,000 jobsGenworth Financial acquired
Liberty Reverse MortgageGeorge Washington Savings Bank shut by
FDICGeorgian Bank shut down by FDICGlobal Commerce Bank shut by
FDICGlobal Mortgage Inc. to be shut downGMAC Mortgage cutting 84
jobs in West Hartford, 45 in CharlotteGMAC Mortgage to shut all 200
retail officesGMAC Mortgage cut 68 jobs in Cherry Hill, New
JerseyGMAC Residential Funding (Canada) suspended subprime mortgage
originationGMAC in talks to sell Mexican mortgage units to Ixe Bank
(Mexico)GMAC-RFC (UK) closed subprime subsidiary High Street Home
Loans, 200 layoffsGMAC-RFC (UK) to halt loan origination, 130
layoffsGolden Empire Mortgage closed wholesale division GEM Capital
FundingGolden State TD Investments LLC filed for bankruptcyGoldman
Sachs purchased Litton Loan ServicingGoldman Sachs to cut 1,500
jobsGranite Community Bank shut by FDICGreat Basin Bank of Nevada
shut down by FDICGreater Buffalo Savings Bank halted residential
mortgage lending, closed unitGreat Southwest Mortgage believed to
be closed by parent First Magnus FinancialGreater Atlantic Bank
shut by FDICGreenpoint Mortgage closed, 1900 employees laid off, 31
branches closedGreenpoint Mortgage shut servicing center in
Columbus, GA, 220 layoffsGroup One Lending shut downGuaranty Bank
shut down by FDICGuaranty Bank to exit warehouse lendingGuaranty
Bank to shut correspondent lending unitGuaranty Financial cut 10
percent of workforceGuaranty Residential layoffsGuardian Loan Co.
shut downGuild Mortgage Co. acquired Liberty Financial GroupGulf
State Community Bank shut by FDICH&R Block Mortgage Corp. 353
layoffsH&R Block to cut 505 jobs related to closure of Option
OneHabersham Bank shut by FDICHarbourton Mortgage Investment
Corporation (HMIC) closedHarVest Bank of Maryland shut by FDICHaven
Trust Bank shut down by FDICHaven Trust Bank Florida shut by
FDICHBOS shut Mortgage Business (UK), 325 possible layoffsHeartland
Mortgage Co. bought Merrlin Mortgage Corp.Heartland Wholesale
Funding ceased wholesale lendingHeartwell Mortgage closedHeritage
Bank shut down by FDICHeritage Banking Group shut by FDICHeritage
Community Bank shut down by FDICHeritage Plaza Mortgage closedHFF
Inc. cut 57 jobsHigh Desert State Bank shut by FDICHigh Trust Bank
shut by FDICHillcrest Bank shut by FDICHillcrest Bank Florida shut
downHMIC closedHome 123 Mortgage closedHomeBanc Mortgage Corp.
layoffs, filed bankruptcy, sold branches to CountrywideHome Capital
Inc. closesHomecomings Financial to cease lendingHomecomings
Financial laid off 284, including 207 AEsHomecomings Financial cut
60 jobs in Bellevue, WAHome Equity Mortgage Co. placed in temporary
receivershipHome Equity of America layoffsHome Federal Savings Bank
shut by FDICHomefield Financial closedHomeland Capital Group
subprime wholesaler closedHome Loan Center Inc. / Lending Tree
hundreds of layoffs nationwideHome Loan Center Inc. / Lending Tree
cut 119 jobs in IrvineHome Loan Consultants closesHome Loan Corp.
closed Expanded Mortgage Credit subsidiaryHome Loan Investment Bank
laid off roughly 30 employeesHome Loan Services (Merrill servicing
arm) for saleHome Loan Specialists Inc. (HLS) closed its doorsHome
National Bank shut by FDICHome Savings of America shut by FDICHome
Valley Bank shut by FDICHomestead Mortgage will close its wholesale
divisionHomeview Lending Inc. layoffs, now appears to be
closedHomewide Lending Corp. closedHonor State Bank closed
wholesale lending departmentHorizon Bank shut by FDICHousevalues
Inc. laid off 160 workers, closed Yakima call center, shut mortgage
lead bizHSBC stopped wholesale, correspondent lendingHSBC to cut
1100 jobsHSBC Holdings PLC closing mortgage office, 600 layoffsHSBC
Mortgage cut 80 jobs in NYHSBC Mortgage Services (Correspondent
division) closed, layoffsHSBC Financial Corp. Ltd. (Canada) closing
30 branches, 300 potential layoffsHSBC to shut down HFC,
BeneficialHSBC shuts down Decision OneHSBC Financial Corp. Ltd.
(Canada) closing 30 branches, 300 potential layoffsHSBC halts
trading of mortgage-backed securitiesin U.S., 120 layoffsHSBC
closing 260 consumer lending branchesHSBC Mortgage laid off 302
employees in JacksonvilleHSBC Mortgage Services cut 48 jobs in
VirginiaHuntington Financial to be acquired by Oxford FundingHypo
Real Estate (Germany) nationalizedIdeal Federal Savings Bank shut
by FDICIdeal Mortgage Bankers to exit wholesale lending,
layoffsIgate Global Solutions (India) redeploying roughly 150
employees into other servicesIKB Industriebank (Germany) losses
near $1bn as a result of subprime exposure in USImpac stops Alt-A
lending, 144 laid offImpac Mortgage Holdings 350 recent layoffs,
halted Alt-A loan productionImperial Capital Bank shut by
FDICImperial Savings and Loan Association shut by FDICInBank (IL)
shut down by FDICIndependent Bankers Bank shut FDICIndependent
National Bank shut by FDICIndymac sold to private investor
groupIndymac Federal now OneWest Bank GroupIndymac filed
bankruptcyIndymac shut downIndymac halts most lending, thousands of
layoffsIndyMac layoffs, branch closuresIndymac bought retail arm of
New York Mortgage Trust,Indymac layoffsIndyMac stopped
construction-to-perm lendingIndyMac closed Ontario, CA-based
operations centerIndyMac Commercial Lending Corp. halted lending
operationsING to cut 7,000 jobsING to buy Interhyp AG(largest
German residential mortgage broker)ING Direct exited wholesale
mortgage businessING Netherlands cut 10 percent of jobs at mortgage
unitInnovative Bank shut by FDICInnovative Mortgage Capital
closedIntegra Bank National Association shut by FDICIntegrity Bank
shut by FDICIntegrity Bank of Alpharetta, Georgia shut down by
FDICInterBay Funding laid off 75 workersInter Savings Bank shut by
FDICInvestaid Corp. suspended operations indefinitelyIrwin Home
Equity layoffsIrwin Union Bank shut down by FDICIrwin Union Bank
and Trust Co. shut down by FDICIrwin Union Bank & Trust Co.
stopped wholesale lendingISN Bank shut by FDICIvanhoe Mortgage
closedJennings State bank shut down by FDICJohn Warner Bank shut by
FDICJP Morgan layoffs reported in loan structuring group, CMBS
group , and UW groupK Bank shut by FDICKBC Bank NV (Belgium) bought
Vertical LendKensington Mortgages (UK) temporarily withdrawing from
the mortgage marketKensington Mortgages (UK) cut 20 percent of
staffKensington Mortgages (UK) cut 75 jobsKeyBank Real Estate
Capital halted lendingKeyBank Real Estate Capital cut 100+
jobsKeycorp exited subprime mortgage business, layoffsKey West Bank
shut by FDICKeys Federal Credit Union shut downKH Funding filed for
Chapter 11 bankruptcyKirkwood Financial Corp. suspended wholesale
originationsKKR Financial Holdings no longer intends to invest in
residential real estateKondaur Capital Corp. cut 155 jobsLa Jolla
Bank shut by FDICLakeside Community Bank shut by FDICLancaster
Mortgage Bankers closedLandAmerica Financial Group Inc. will cut
1,100 jobs (title company)Landesbank Sachsen Girozentrale (Germany)
sold to Landesbank Baden-WrttembergLandMark Bank of Florida shut by
FDICLaw Offices of David J. Stern to shut down, layoffsLegacy Bank
shut down by FDICLehman Brothers filed Chapter 11 bankruptcyLehman
Brothers cut 140 mortgage-securities trading jobsLehman Brothers
cut 850 jobsLehman Brothers to cut 1425 jobs globally + another
1,500Lehman Brothers cut 200 jobs from its UK mortgage firmsLehman
Brothers to close UK subprime lending units SPML and Preferred
MortgagesLehman Brothers Bank cut 126 jobs in Lake Forest, CALehman
Brothers Bank cut 85 jobs in Lake Forest, CALehman Bros. Small
Business Finance no longer accepting loan applicationsLehman Bros
Dutch mortgage unit Elq Hypotheken ceased lendingLend America
closedLenders Direct Capital Corporation closed wholesale lending
operationsLending group Inc. suspended operationsLendingTree.com
closed Carmel, IN office, 64 layoffsLending Tree 20% of workforce
laid off (fresh ones on Aug. 17)LendingTree layoffs, mainly in
Irvine, CALennar Corp. over 4,000 layoffs at big Miami home
builderLenox Financial Mortgage receives cease and desist from
Georgia Department of Banking and FinanceLexington Lending halts
wholesale operationsLevitt and Sons LLC (homebuilder) laid off a
third of staffLevitt and Sons LLC (homebuilder) filed for Ch. 11
bankruptcyLiberty American Mortgage halted wholesale
lendingLibertyBank shut by FDICLiberty Home Lending ceased
wholesale lendingLiberty Mortgage Corp. ceased wholesale
lendingLiberty Mortgage Funding Co. filed for Ch. 7
bankruptcyLiberty One Lending ceased operationsLIME Financial
Services (Credit Suisse wholesale) ceased lendingLIME Financial
Services, Ltd sold to Credit Suisse, downsized from 450 to
225Lincoln Park Savings Bank shut by FDICLloyds TSB to buy Halifax
Bank of Scotland for $22 billionLoancity closed 7 branches, shut
downLoans 123 no longer taking anymore businessLondon &
Scottish Mortgages (LSM:UK) stopped accepting new applicationsLone
Star facing lawsuit over purchase of Accredited Home LendersLone
Star to buy Bear Stearns Residential Mortgage Corp.Long Beach
Mortgage Co. (WAMU) winding down operationsLong Mortgage lost
financing, parent First Magnus trying to dissolve unitLos Padres
Bank shut by FDICLowerMyPayment.com closed, mortgage lead
companyLownhome Financial closedLuminent layoffs, two default
notices, selling equity stake to Arco Capital Corp.Luminent
Mortgage filed Chapter 11 bankruptcyLydian Mortgage shut wholesale,
layoffsLydian Private Bank shut by FDICM&T Bank cut wholesale
mortgage jobsMacQuarie Mortgages USA halts loan
originationMacQuarie Mortgages USA laid off 69 employeesMcIntosh
Commercial Bank shut by FDICMcIntosh State Bank shut by
FDICMadisonville State Bank shut downMagnetBank shut down by
FDICMain Street Bank shut down by FDICMainstreet Bank (MN) shut by
FDICMainstreet Savings Bank shut by FDICMandalay Mortgage
closedMarco Community Bank shut by FDICMaribella Mortgage
closedMaritime Savings Bank shut by FDICMarket Street Mortgage
layoffsMarket Street Mortgage to be broken up and sold in pieces,
53 layoffsMarlin Mortgage Company, LLC shut it doorsMarshall Bank
shut by FDICMaster Financial layoffs, ceased wholesale
productionMaverick Residential Mortgage reportedly closedMEM
Financial Solutions filed for bankruptcyMercantile Mortgage ceased
operationsMeridian Bank shut down by FDICMeridias Capital layoffs,
rumors of employees not being paidMeritage Mortgage closed, staff
employed by LIME FinancialMerrill Lynch bought First
FranklinMerrill Lynch to cut 4,000 jobsMerrill Lynch halted all
lending at UK subsidiary Wave, layoffsMerrlin Mortgage Corp.
acquired by Heartland Mortgage Co.MetLife halted reverse mortgage
lending, sold servicing rights to Nationstar MortgageMetlife shut
down its forward mortgage division, 4,000+ layoffsMetLife acquired
EverBank Reverse Mortgage LLCMetLife to buy First Horizon mortgage
unitMetro Bank of Dade County shut by FDICMetrocities Mortgage now
Prospect MortgageMetrocities Mortgage stopped wholesale
lendingMetrocities Mortgage dissolved No Red Tape Mortgage,
layoffsMetrocities Mortgage acquired Mortgage Services
UnlimitedMetro Pacific Bank shut by FDICMCAP Financial (Canada)
suspended subprime lending through its Eclipse divisionMGIC bought
rival mortgage insurance provider Radian Group (abandoned)MGIC
Investment Corp. cut 19 jobs at Milwaukee headquartersMiami Valley
Bank shut down by the FDICMid City Bank, Inc. shut by FDICMidwest
Bank and Trust Company shut by FDICMillenium Bankshares closed
mortgage divisionMillenium Funding Group closedMillennium Mortgage
Corp. halted wholesale lendingMillennium State Bank of Texas shut
by FDICMirae Bank shut by FDICMLSG halted lending operationMorgan
Stanley sold Saxon Mortgage to OcwenMorgan Stanley to lay off 300
employees in securities divisionMorgan Stanley to sell City
Mortgage Bank (Russian mortgage unit)Mortgage Bankers Association
layoffsMortgage Capital Resource Corp. closedMortgageIT layoffsand
branch closureMortgage Investors Group (MIG) closed wholesale
divisionMortgage Investment Lending Associates (MILA) subprime
wholesale closedMortgage Network Inc. halted wholesale and
correspondent lendingMonarch Bank buying mortgage-related assets
from Resource BankMorgan Stanley bought Saxon MortgageMorgan
Stanley cut over 1,000 jobsMorgan Stanley to cut 1,500 jobsMorgan
Stanley cuts 600 mortgage jobsMortgage Investment Lending
Associates closedMortgageIT halted wholesale lendingMortgageIT
consolidated with DB Home Lending, rumored to be offering agency
loans onlyMortgage Network Inc. acquired Partners Group
UnlimitedMortgage Next (UK) layoffsMortgage Lenders Network stopped
residential loan productionMortgageTree Lending closed, website
downMortgages Ltd. filed for Ch. 11 bankruptcyMountain Heritage
Bank shut by FDICMutual Bank shut by FDICMylor Financial
closedNational Bank of Commerce shut down by FDICNational City
ceases wholesale lendingNational City exits correspondent lending
businessNational City laid off 1,300,National City branch closures
and layoffsNational City cut 50 jobs in San DiegoNational City to
exit warehouse lendingNational Home Equity consolidated by National
City Corp., suspended originations, layoffsNational Wholesale
Funding halted operationsNationPoint halts loan origination,
layoffsNationpoint subsidiary of Merill Lynch laid off 60 people in
August, 70 more in Nov.Nation One Mortgage Co. Inc. wholesale
lender stopped origination and funding of mortgagesNationstar
acquired Champion Mortgage, closed multiple offices, incl. Denver
office Sept. 10Nationstar halts wholesale lendingNeighborhood
Community Bank shut by FDICNetBank shut downby FDIC due to
excessive mortgage defaultsNetbank Funding closedNetMore America
Inc. layoffsNevada Commerce Bank shut by FDICNevada Security Bank
shut by FDICNew Century filed bankruptcyNew Century Bank shut by
FDICNew City Bank shut by FDICNew England Merchants Corp. received
cease and desist orderNew Equity Mortgage merged with Advent
MortgageNew Frontier Bank shut by FDICNew Horizons Bank shut by
FDICNew Horizons Reverse Mortgage Inc. filed for Chapter 7
bankruptcyNew Liberty Bank shut by FDICNew South Federal Savings
Bank halts all mortgage lendingNew South Federal Savings Bank shut
by FDICNew State Mortgage Company ceased wholesale lending
operationsNew Vision Residential Lending to close at end of
monthNexity Bank shut by FDICNikko Citigroup to cut 10% of
staffNomura Securities closed its nonconforming mortgage conduit
and laid off staffNomura Holdings to shut mortgage-backed
securities business, 1300 job cutsNorddeutsche Landesbank made
offer for Deutsche Hypothekenbank AGNo Red Tape Mortgage dissolved
by MetrocitiesNorthern Georgia Bank shut by FDICNorthern Rock (UK)
seeks Bank of England bailout,issued profit warningNorthern Rock
sold $4.3 billion mortgage portfolio to JP Morgan ChaseNorthern
Rock to cut 2000 jobsNorth County Bank shut by FDICNorth Houston
Bank shut downNorthwest Bank & Trust shut by FDICNovaStar
layoffsNovastar closed wholesale unit, facing potentially huge
lawsuit, laying off 37% of workforceNovastar
HYPERLINK
"http://www.thetruthaboutmortgage.com/novastar-cutting-500-jobs-closing-wholesale-unit/"
\o "Novastar closed wholesale unit"
HYPERLINK
"http://www.thetruthaboutmortgage.com/novastar-layoffs-and-reduced-retail-production/"
\o "Novastar cutting 275 jobs" cutting 275 jobs, closing 12 retail
origination officesNovastar job cutsexpected from sale of servicing
unitNovelle Financial said to have ceased operationsNVR Mortgage
Finance (builder) restricted from offering Alt-A, subprime and
piggyback loansOakmont Mortgage closedOak Street Mortgage closed,
files bankruptcyOcala National Bank shut down by FDICOcwen
Financial to buy Kent County State BankOglethorpe Bank shut by
FDICOld Harbor Bank shut by FDICOld Southern Bank shut by FDICOlde
Cypress Community Bank shut by FDICOMG Wholesale suspended
operationsOmni National Bank shut down by FDICOne Georgia Bank shut
by FDICOneCap Mortgage Corp. license revokedOneWest Bank to halt
reverse mortgage lendingOpteum closed conduit and wholesale
operationsOptima Funding reported to have ceased operationsOption
One shut downOption One buyout in jeopardyOption One layoffs,
pending sale to Cerberus Capital Management LPOption One cut 50
jobs in Bay AreaOpus Mortgages (UK) put into liquidationOwn It
Mortgage closedOrigen Correspondent Mortgage Group to be shut
downOrigen Financial ceased Texas ops, cut 96 jobsOrion Bank shut
by FDICOxford Funding acquiring Huntington FinancialPacific
American Mortgage (PAMCO) no new submissions, halted
operationsPacific Coast National Bank shut by FDICPacific National
Bank shut downPacific State Bank shut by FDICPalm Desert National
Bank shut by FDICPalos Bank and Trust Company shut by FDICPan
American Mortgage cut 443 jobsParagon Home Lending said to be shut
downParagon Mortgages (UK) laid off 62 Mortgage Trust
staffParamount Bank shut by FDICPark National Bank shut
downPartners Bank 100th bank failure of 2009Partners Group
Unlimited bought out by Mortgage Network Inc.Patriot Bank of
Georgia shut by FDICPatriot Bank Minnesota shut by FDICPaul
Financial suspends loan originationPaul Financial LLC cut 57
jobsPeninsula Bank shut by FDICPeoples Choice Financial Corp.
bankruptPeoples Community Bank shut by FDICPeoples First Community
Bank shut by FDICPeoples Mortgage closedPeoples State Bank shut by
FDICPeotone Bank and Trust Company shut by FDICPFF Bank and Trust
shut down by the FDICPHH merger terminatedPHH Mortgage laid off 140
in Providence, 300 more from NJ and FL officesPiedmont Community
Bank shut by FDICPierce Commercial Bank shut by FDICPillar
Processing cut 601 employees at Long Island officesPinehurst Bank
shut by FDICPinnacle Bank of Oregon shut down by FDICPinnacle
Direct Funding Corp merged with Tri-Star LendingPinnacle Financial
Corp. acquired by Impac Mortgage Holdings, closedPlantation Federal
Bank shut by FDICPlatinum Community Bank (IL) shut down by FDICPMI
Group Inc. (mortgage insurer) filed for Chapter 11 bankruptcyPNC to
close Capstone Realty Advisors (commercial mortgage unit)PNC Bank
discontinued wholesale home equity lendingPNC Bank to cut 5,800
jobsPNC Banl to cut 30 workers at loan servicing center in
DaytonPolk County Bank shut by FDICPopular Financial Holdings
exited the wholesale sub-prime mortgage marketPopular Inc. cut 167
loan servicing jobs in New JerseyPopular Mortgage Corp. shut
downPopular Warehouse Lending no longer accepting
applicationsPortellus, Inc. (software) winding down mortgage
division, selling mortgage assetsPrecision Financial Inc.
closedPreferred Home Mortgage Co. cut 75 jobsPremier American Bank
shut by FDICPremier Bank shut by FDICPremier Community Bank of the
Emerald Coast shut by FDICPremier Mortgage Funding, Inc filed for
bankruptcyPremium Funding Corp. closedPrincipal Mortgage Fund, Inc.
to buy Fair Home Lending Financial, Inc.Priority Funding Mortgage
Bankers believed to have ceased operationsProgress Bank of Florida
shut by FDICProsperan Bank shut by FDICProvincial Bank acquired
United Residential MortgageProperty Finance Group (New Zealand)
halted trading amid liquidity concernsProspect Mortgage to acquire
80 Indymac branches, 750 employeesProspect Mortgage buying Fidelity
Trust Mortgage Inc.Prospect Mortgage acquired Indymac branchesPSM
Holdings, Inc. acquired Brookside Mortgage LLCPublic Savings Bank
shut by FDICPulte Homes 2,000 layoffsPulte Mortgage layoffsPulte
Mortgage shutting Charlotte processing center, nearly 90
layoffsQuality Home Loans filed for bankruptcy, sold to hedge fund
manager Michael KleinQuick Loan Funding layoffs, now reported
closedQuicken Loans Inc. suspended new hiringQuicken Loans
layoffsQuicken and RockBridge acquired One Reverse
MortgageQuoteMeARate.com Inc. closedQHL Holdings Fund Ten LLC filed
for bankruptcyR-G Premier Bank of Puerto Rico shut by FDICRadian
(mortgage insurer) cut 7% of its workforceRainier Pacific Bank shut
by FDICRAMS Home Loans (Australia) warned of profit losses after
only two weeks on stock marketRavenswood Bank shut by FDICRealty
Mortgage shut down, 300+ layoffsRegions Financial Corp. closed
warehouse lending unitRegions Financial Corp. shut Little Rock
mortgage servicing facilityRepublic Federal Bank shut by
FDICResidential Capital LLC filed for bankruptcyResCap
layoffsResCap halts Dutch mortgage lendingResCap
bankruptcyfearsResCap layoffsResCap closed offices, cut 470
jobsResidential Capital LLC cutting roughly 1,000 jobs (GMAC
company)ResMae Mortgage Corp. cut 182 jobs in BreaResMae Mortgage
Corp. layoffs, bankrupt/for sale, closing Dallas facilityResMae
Mortgage Corp. halted loan submission, cut over 150 jobsResidential
Mortgage Capital suspends operationsResidential Wholesale Mortgage,
Inc. acquires Government Loan CenterResource Bank selling
mortgage-related assets to Monarch BankResource Mortgage shuttered
wholesale divisionReunion Mortgage shut wholesale office in
FloridaRFC layoffsRight Away Mortgage closedRiver City Mortgage to
sell itself to Wintrust Financial CorpRiverside Bank of the Gulf
Coast shut down by FDICRiverside National Bank of Florida shut by
FDICRiverview Community bank shut downRockBridge Commercial Bank
shut by FDICRock River Bank shut by FDICRooftop Mortgages (Bear
Stearns UK mortgage unit) to closeRose Mortgage Corp.
closedRosemount National Bank shut by FDICRoyal Bank of Scotland to
cut 9,000 jobsSan Diego National Bank shut downSan Joaquin Bank
shut downSan Luis Trust, FSB shut by FDICSanderson State Bank shut
down by FDICSanta Cruz Mortgage suspended operations
indefinitelySatilla Community Bank shut by FDICSaxon Mortgage
wholesale closed, 1000 layoffsSaxon layoffs, closed correspondent
unitSaxon Mortgage closed two loan servicing facilities in Texas,
cut 680 jobsSaxon Mortgage Services cut 50 jobs in TexasSCB Bank
shut by FDICSCME ceases wholesale operationsSCME Mortgage Bankers
Inc. layoffs, branch closuresScottish RE large subprime exposure
drops stock into dangerzoneSea Breeze Financial Services, Inc.
Irvine, CA lender apparently closedSebring Capital Partners
closedSecured Bankers Mortgage Company halted operationsSecured
Funding closedSecurity Bank Corp. has six Georgia banks shut down
by FDICSecurity National Servicing Corp. to cut 31 jobsSecurity
Pacific Bank shut down by FDICSecurity One Lending acquired OMNI
ReverseSecurity Savings Bank shut down by FDICSecurity Savings
Bank, F.S.B. shut by FDICSenior Lending Network no longer taking
applicationsShearson Financial Network to acquire Dollar Mortgage
Corp. (fell through)Shearson Financial Network to file
bankruptcySherman County Bank shut down by FDICShoreBank shut by
FDICShoreline Bank shut by FDICSilver Hill Financial cut 45
jobsSierra Pacific Mortgage closed several branchesSilver Falls
Bank shut down by FDICSilver State Bank shut down by FDICSilver
State Mortgage closedSilverton Bank shut by FDICSolent Mortgage
Services (UK) closing its doorSolent Mortgage Services (UK)
layoffsSolstice Capital (HSBC retail) halted lending, 130
layoffsSonoma Valley Bank shut by FDICSolutionsBank shut by
FDICSolutions Funding closedSouthern Community Bank shut by
FDICSouthern Star Mortgage cut wholesale lendingSouthern Star
Mortgage halts loan originationSouthshore Community Bank shut by
FDICSouthstar Funding closedSouthwest Bank acquired BMC Mortgage
Services Inc.Southwest Community Bank shut by FDICSouthwestUSA Bank
shut by FDICSovereign Bancorp to cut 1,000 jobsSpectrum Financial
Groupfiles bankruptcySt. Stephen State Bank shut by FDICStarpointe
Mortgage closedState Bank & Trust of Fargo purchased Bell
MortgageState Bank of Aurora shut by FDICStatewide Bank shut by
FDICSterling Bank shut by FDICSteven J. Baum P.C. to close, 89
layoffsSteward Financial closedStone Creek Funding closedStonewater
Mortgage Corp. halts new originations, sold to Caliber Funding
LLCStrategic Capital Bank shut down by FDICSouthern Colorado
National Bank shut down by FDICSouthStar Funding closedSouthwest
Business Corp. purchased 15 Home Loan Corp. branchesSuburban
Federal Savings Bank shut down by FDICSummit Financial Group Inc.
closed residential mortgage unitSummit Mortgage Co. to closeSun
American Bank shut by FDICSun Security Bank shut by FDICSun West
Bank shut by FDICSunset Direct Lending closedSunshine Mortgage
Corp. shut downSunshine State Community Bank shut by FDICSunFirst
Bank shut by FDICSunTrust cut 170 jobsSunTrust Bank cut 86
jobsSunTrust Bank closing wholesale lending officesSummit Bank shut
by FDICSuperior Bank shut by FDICTamalpais Bank shut by FDICTBW to
file for bankruptcy protection, around 1000 layoffsTeamBank shut
down by FDICTemecula Valley Bank shut by FDICTennessee Commerce
Bank shut by FDICThe Bank of Bonifay shut by FDICThe Bank of
Commerce shut by FDICThe Bank of Miami shut by FDICThe Buckhead
Community Bank shut by FDICThe Community Bank shut down by the
FDICThe Cowlitz Bank shut by FDICThe First National Bank of
Barnesville shut by FDICThe First National Bank of Olathe shut by
FDICThe First State Bank shut by FDICThe Gordon Bank shut by
FDICThe La Coste National Bank shut by FDICThe Lending Connection
believed to have laid off staff and ceased operationsThe Members
Own Federal Credit Union shut downThe Money Store will take over
Amstar Mortgage branchesThe Mortgage Lender (UK) cut hundreds of
jobs, may cease lendingThe Mortgage Store Financial Inc. rumored to
have ceased lending, laid off most of staffThe Mortgage Warehouse
closedThe Park Avenue Bank shut by FDICThe Peoples Bank shut by
FDICThe RiverBank shut by FDICThe Tattnall Bank shut by
FDICThornburg Mortgage filed bankruptcyThornburg Mortgage bankrupt,
100+ layoffsThornburg bankruptcyfears, suspends fundingsThornburg
Mortgage 5 downgrades, selling assets, denied BK, facing Wachovia
lawsuitThornburg Mortgage cut 29 jobsThunder Bank shut by
FDICTierOne closed all nine loan production officesTierOne Bank
shut by FDICTifton Banking Company shut by FDICTown Community Bank
& Trust shut by FDICTowne Bank of Arizona shut by FDICTransLand
Financial Services facing involuntary Ch. 11 bankruptcy petition,
layoffsTransnational Financial Network suspended wholesale lending
operationsTriad Guaranty halts new business, layoffsTri-Star
Lending Group acquired by Impac Mortgage HoldingsTrojan Lending
ceased wholesale productionTrump Mortgage closedTurnberry Bank shut
by FDICUBS to cut 8,700 jobsUBS to cut 5,500 jobsUBS to cut another
2,000 jobsUBS Home Finance stops wholesale lendingUlster Bank
(RBS-UK) cut 750 jobs, close First Active mortgage unitUnion Bank,
National Association shut by FDICUnique Mortgage Solutions closed,
layoffsUnited Americas Bank shut by FDICUnited Commercial Bank shut
by FDICUnited Equity LLC (Baltimore) shut downUnited Guaranty
layoffsUnited Residential Lending halts wholesale lendingUnited
Security Bank shut by FDICUnity National Bank shut by FDICUniversal
American Mortgage Co. shut down its processing center, 57
layoffsUniversal Mortgage Corp. to close, 100 layoffsUnlimited Loan
Resources closedUpland Mortgage filed Chapter 11 bankruptcyU.S.
Mortgage Corp. stops retail lendingUSA Bank shut by FDICUSA Federal
Credit Union layoffsValley Capital Bank shut by FDICValley
Community Bank shut by FDICValley Vista Mortgage shut down all
operationsVantus Bank (IA) shut down by FDICVelocity Commercial
Capital, LLC layoffs reportedVenture Bank shut down by FDICVertex
to cut 55 jobs related to DB Mortgages account (Deutsche Bank
UK)Vertical Lend changes name to World Alliance FinancialVertice
shut down (Wachovia wholesale lending channel)Vertice (Wachovia
unit) undisclosed number of job cuts in third quarter of
2007Vertice (wholesale mortgage unit of Wachovia) cutting 40 more
jobsVictoria Mortgage Funding closed(UK subprime lender)ViewPoint
Bankers Mortgage acquired 45 former CTX Mortgage employeesVineyard
Bank shut by FDICVirgin Money U.S. closedVirginia Business Bank
shut by FDICVirtual Bank Mortgage now Lydian MortgageVision
Development Group of Broward County LLC (condo developer) Ch. 11
bankruptcyW.J. Bradley Mortgage Capital Corp. merges with State
MortgageWachovia halted wholesale lending, 11,000 layoffsWachovia
closed Equibanc, 115 layoffs in bay areaWachovia shut Waterbury, CT
retail mortgage office, 65 layoffsWachovia cut 50 mortgage
processing jobs in Boynton Beach, FLWachovia cut 240 mortgage and
banking jobs in San AntonioWachovia cut 200 positions in corporate
and investment banking unitWachovia reportedly closed four offices
in Germany due to crisisWachovia stopped offering mortgages at many
branches, 600 layoffsWachovia shut mortgage center in Tampa, 57
layoffsWakulla Bank shut by FDICWalter Mortgage Co. to wind down
mortgage lendingWarehouse USA closedWarren Bank shut down by
FDICWashington First International Bank shut by FDICWashington
Mutual shut downWaMu stopped wholesale lending, 3,000
layoffsWashington Mutual layoffs, halting subprime
lendingWashington Mutual laying off 50 in Capital MarketsWashington
Mutual to cut 1,200 jobsWashington Mutual cuts Commercial
Correspondent/Wholesale LendingWashington Mutual layoffs, exited
warehouse/correspondent marketWashington Mutual layoffsas high as
1,000, closing 3 fulfillment centersWashington Savings Bank stopped
wholesale lendingWashtenaw Mortgage Company closedWaterfield Bank
shut by FDICWaterford Village Bank shut by FDICWCI Communities cut
575 jobsWealthbridge Mortgage shut down, layoffsWebster Bank to
cease wholesale and correspondent lendingWebster Financial to cut
240 jobsWeichert Financial laid off 70+ operations staffWells Fargo
cut 113 home retention workers in Bellevue, WAWells Fargo stops
reverse mortgage lendingWells Fargo closed Grand Junction, CO
mortgage center, 55 layoffsWells Fargo cuts 4,500 mortgage
jobsWells Fargo halts wholesale reverse mortgage lendingWells Fargo
cutting jobs as HARP demand fallsWells Fargo cutting 145 wholesale
mortgage jobs in Orange CountyWells Fargo to buy WachoviaWells
Fargo Financial to close 638 stores, halt origination of non-prime
portfolio mortgagesWells Fargo Home Mortgage halts wholesale
non-conforming lendingWells Fargo Alternative Lending Wholesale
closed, layoffs nationwideWells Fargo Home And Consumer Finance
Group layoffsWells Fargo stops mortgage lending in CanadaWells
Fargo layoffs in home equity divisionWells Fargo layoffs in
Billings, MTWells Fargo shutting wholesale division in Concord, CA,
137 layoffsWells Fargo Home Mortgage acquired Pride MortgageWells
Fargo Home Mortgage cut jobs in Fort Mill, SCWescom Credit Union
exited wholesale lendingWestBridge Bank and Trust Company shut by
FDICWesternbank Puerto Rico shut by FDICWestern Commercial Bank
shut by FDICWestern Corporate (WesCorp) Federal Credit Union placed
in conservatorshipWestern National Bank shut by FDICWestern Springs
National Bank and Trust shut by FDICWestsound Bank shut down by
FDICWest Texas Credit Union shut downWestWorks Mortgage
closedWheatland Bank shut by FDICWilliamsburg First National Bank
shut by FDICWilmington Finance stopped wholesale lending, hundreds
of layoffsWindsor Capital Mortgage Corp. closed downWinstar
Mortgage ceased operationsWintrust Mortgage Corp. shut wholesale
mortgage divisionWMC GEs subprime unit cut 460 jobs, reported
closed and for saleWMC Mortgage
HYPERLINK
"http://www.thetruthaboutmortgage.com/wmc-mortgage-cuts-most-of-staff/"
\o "WMC Mortgage layoffs"
HYPERLINK
"http://www.thetruthaboutmortgage.com/wmc-mortgage-cuts-most-of-staff/"
\o "WMC Mortgage layoffs" layoffsWNS (India outsourcing)
redeploying employees due to mortgage shakeupWoodlands Bank shut by
FDICWorld Savings sold to WachoviaWSB Financial Group Inc. cutting
33 mortgage jobsXBancorp closed wholesaleXceed Mortgage (Canada) to
stop originating loans via brokersXceed Mortgage Corp. (CA) cut
two-thirds of staff (74 jobs)Xceed Mortgage Corp. (CA) issued
profit warning, halted dividendXceed Mortgage Corp. (CA) cut 26
jobs, about 18 percent of staff
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