A List of Mortgage Closures, Mergers and Layoffs

February 21, 2007 Comments Off
A List of Mortgage Closures, Mergers and Layoffs

So why are all these mortgage companies consolidating, 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 adding mortgage lenders from 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 the mortgage crisis in one way or another.

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 July 23, 2014

Latest updates:

Altisource Portfolio Solutions to acquire Mortgage Builder
CIT Group to buy OneWest Bank (formerly IndyMac)
Wells Fargo to lay off 468 home mortgage workers in Homewood, AL
CoreLogic to close Charlotte office and lay off 46 employees
The Freedom State Bank closed by the FDIC
Valley Bank locations in Fort Lauderdale, FL and Moline, IL shut by FDIC
Guaranteed Rate to purchase the assets of FirsTrust Mortgage
Sun National Bank to lay off 242 employees, exit residential mortgage business
MutualBank to acquire Summit Mortgage, Inc.
Complete Financial Solutions to acquire American Patriot Bank
Naugatuck Valley Savings layoffs thanks to reduced mortgage volume
Bank of America cutting 540 loss mitigation jobs in Charlotte
Wells Fargo Home Mortgage office in Amherst, NY to close
Wells Fargo cuts 52 mortgage workers in Bay Area
Slavie Federal Savings Bank shut down by FDIC
OneMain Financial to halt mortgage lending in New York state
Royal Bank of Scotland to cut about 300 jobs in mortgage trading business
Columbia Savings Bank closed by FDIC
Bank of America to lay off 77 mortgage workers at St. Louis office
Radian Group to buy Clayton Holdings
Chase to cut 155 jobs at its Garden City, NJ mortgage office
Freedom Mortgage Corp. bought the assets of BluFi Lending
USA Mortgage / DAS Acquisition Company acquires Capital Mortgage Solutions
Allendale County Bank shut down by FDIC
Wells Fargo Home Mortgage to cut another 323 jobs nationwide
Assurant Specialty Property acquires StreetLinks
Universal American Mortgage Company (mortgage banking subsidiary of home builder Lennar Corporation) acquires branches of Pinnacle Mortgage Group, Inc.
Fenway Summer merges with Ethos Lending
Bank of America to cut 153 mortgage jobs in Pasadena, CA
CoreLogic acquires Marshall & Swift/Boeckh (MSB) and DataQuick
Montage Mortgage acquires Ameritrust
Chase to cut 165 jobs at Chatsworth, CA mortgage processing center
Fifth Third Bank to cease wholesale mortgage lending
Bank of America to cut mortgage jobs at locations in Richardson and Ft. Worth, TX
Nationstar Mortgage to cut 105 jobs in Scottsbluff, NE
Carrington Holding Company, LLC acquires Clear Financial Solutions Limited (UK)
InterLinc Mortgage Services LLC acquires HomeTown Mortgage Services Inc.
Vantage Point Bank closed by FDIC
Millennium Bank, NA closed by FDIC
IBM cuts mortgage jobs in Beaverton, OR
Guaranteed Rate acquires Sun State Home Loans, Nationwide Direct Mortgage, and Arbor Mortgage
Wells Fargo to cut 700 more jobs amid slowing mortgage demand
Chase plans to cut another 2,000 mortgage jobs nationwide in 2014
Chase to cut 156 mortgage jobs in Houston
Chase to lay off 168 employees from Irvine, CA mortgage office
PHH Corp. to cut 135 jobs in Amherst, NY
PHH Corp. to lay off 130 employees at its Mount Laurel, NJ mortgage servicing center
Nationstar Mortgage to close St. Louis office, 115 layoffs
Bank of America to cut 280 mortgage jobs in St. Charles, MO
Digital Risk LLC to cut 745 mortgage jobs in Florida
First Niagara Financial Group, Inc. to close mortgage processing office in Syracuse, 14 layoffs
American Advisors Group to acquire the assets of Associated Mortgage Bankers
Horizon Bank to acquire 1st Mortgage of Indiana, Inc.
Fulton Mortgage Co. (Lancaster, PA) cut 45 employees
Syringa Bank shut by FDIC
First American Financial to purchase Interthinx
Green Tree Servicing LLC to exit wholesale mortgage business
Stonegate Mortgage Corporation acquires Medallion Mortgage Company
AMS Servicing acquired by Seneca Mortgage Investments
Arch Capital to acquire CMG Mortgage Insurance Co.
GMAC Mortgage to cut 242 jobs in Fort Washington, PA
CapStar Bank to purchase Farmington Financial Group
Bank of America cutting 100+ mortgage jobs in Virginia
The Bank of Union closed by FDIC
Citi cutting 160 mortgage service jobs in Las Vegas
Berkshire Hills Bancorp acquires 20 Bank of America branches in state of New York
Citi to close default mortgage service centers in Fort Mill and Hagerstown, hundreds of layoffs
DuPage National Bank closed by FDIC
Flagstar to cut roughly 600 jobs thanks to slowing mortgage business
Fidelity Homestead Savings Bank purchased NOLA Lending Group LLC
Prospect Mortgage acquires certain retail mortgage branches of Excel Mortgage Servicing, Inc.
Investors Home Mortgage to halt wholesale lending
Cole Taylor may sell mortgage division
Fannie Mae and Freddie Mac wind down or merger?

Complete list:

1-800-East-West Mortgage Co. – suspended operations, cut roughly half of staff due to decline in business
1st American State Bank of Minnesota – shut by FDIC
1st Choice Mortgage – to close, layoffs
1st Commerce Bank (Las Vegas) – closed by FDIC
1st Pacific Bank of California – shut by FDIC
1st Regents Bank – shut by FDIC
1st Reverse Financial – to close
Aames Investment Corp – acquired by Accredited Home Lenders
ABN Amro Mortgage – 1700 layoffs
ABN-Amro Hypotheken-Gruppe – stopped lending in Germany
Ace Mortgage Funding – shut down
Accenture – cut 45 Charlotte jobs thanks to slowdown in refinancing
Accenture – purchased software company Mortgage Cadence
Access Bank – shut by FDIC
Access National Corporation – closed Denver mortgage production branch, potential layoffs
Accredited Home Lenders – filed bankruptcy
Accredited Home Lenders – ceased wholesale lending for second time in Aug 2008
Accredited Home – shut down retail lending, ceased wholesale, Lone Star lawsuit
Accredited Home agreed to Lone Star buyout
Accredited Home Lenders – shuts four operations centers, layoffs
Accredited Home Lenders – cuts 38 jobs in Cincinnati
ACC Capital Holdings – mass layoffs, closed Ameriquest, sold wholesale to Citigroup
Acoustic Home Loans – subprime wholesale lender closed its doors
ACT Mortgage Capital – suspended all submissions/funding until further notice
Adfitech Inc. – laid off 320 workers
Advanta Bank Corp. – shut by FDIC
Advantage Home Loans – closed
Advent Mortgage – merged with New Equity Mortgage
AIG – to buy Equity One
Aegis Funding – closed, seeking bankruptcy protection
Aegis Mortgage Corp. – laying off 401 employees
Affinity Bank (CA) – shut by FDIC
Aklero Risk Analytics Inc. – merged with NYLX, create LoanLogics
Alabama Trust Bank, National Association – shut by FDIC
All American Bank – shut by FDIC
Allegiance Bank of North America – shut by FDIC
Alliance Bancorp – closed, filed for Ch. 7 bankruptcy
Alliance Bank (Culver City, CA) – shut down by FDIC
Alliance Title Co. – shut down, layoffs
All Fund Mortgage – rumored to be closed, acquired by Carlile Investments Inc.
Allstate Home Loans – shut down after buyout
Ally (GMAC) – said it’s officially done with the mortgage business
Ally mortgage unit ResCap – filed for Chapter 11 bankruptcy
Ally Financial – sold European mortgage assets/operations to Fortress Investment Group
Alpha Bank & Trust – shut down by FDIC
ALT Funding – believed to have ceased operations
Alterna Mortgage – New Jersey wholesale lender closed
Alternative Financing Corp. – wholesale division closed
Altivus Financial – closed wholesale operations, now believed to be shut down
AMC Lending –ceases wholesale lending
AMC Mortgage – acquired by Transnational Financial Network Inc.
Amcore Bank, National Association – shut by FDIC
AmeriBanc Corp. – ceased operations
Ameribank Inc. – shut down by FDIC
America One Finance – winding down
America West Bank – shut by FDIC
AmericanFirst Bank – shut by FDIC
AmericasBank – shut mortgage unit
American Brokers Conduit – shut down all operations
American Business Financial Services – closed
American Capital Mortgage Investment – acquired Residential Credit Solutions, Inc.
American Eagle Savings Bank – shut by FDIC
American Equity Mortgage – closing 6 of 30 offices, laying off 40 employees
American Freedom Mortgage – filed bankruptcy
American Home Mortgage – closed
American Homes 4 Rent – layoffs
American Lending Group – merged with Premier Mortgage Group
American Marine Bank – shut by FDIC
American National Bank – shut by FDIC
American Mortgage Network – bought by Wachovia
American Sterling Bank – halted wholesale lending
American Sterling Bank – shut down by FDIC
American Southern Bank – shut down by FDIC
American Trust Bank – shut by FDIC
American United Bank – shut down
Ameriquest – closed, laid off 3,800, shut 229 retail branches after $325 million settlement
Ameritrust Mortgage Company – subprime wholesale division closed
AmPro Mortgage closed – (part of Alliance Bancorp)
Amstar Mortgage Corp. – most staff laid off, The Money Store to take over by Dec. 15
AmTrust Bank – shut by FDIC
ANB Financial – shut down by FDIC for lax lending standards
Annaly Capital Management, Inc. – acquired CreXus Investment Corp.
Anworth Mortgage Asset Corp. – its Belvedere subsidiary is in default and faces margin calls
Apex Financial Group/Aapex Mortgage – commission checks delayed, licenses suspended
Apex Mortgage/Aapex Mortgage – reportedly cease all operations
Apex Lending, Inc. – shut down
Appalachian Community Bank – shut by FDIC
APS Mortgages Limited (UK) – independent brokerage shut down
Arcola Homestead Savings Bank – shut by FDIC
Argent – sold to Citigroup
Associated Bank (WI) – closed eight branches, cut mortgage jobs at La Crosse location
Assurant Inc. – acquired Field Asset Services
Assured Lending Corp – to exit wholesale lending
Atlantic Bank and Trust – shut by FDIC
Atlantic Southern Bank – shut by FDIC
Aurora – stopped wholesale and correspondent lending
Aurora Bank FSB – cut 450 jobs in Indianapolis
Aurora Loan Services – 160 employees laid off
Aurora Loan Services – laid off 70 in Florida, 139 in NJ
Aurora Loan Services – cut 93 jobs in El Toro, CA
Axix Mortgage – closed
Banc of California – acquired CS Financial
Banco Santander – to buy UK lender Alliance & Leicester PLC
BankAtlantic – laid off 115 employees
BankEast – shut by FDIC
BankFirst – shut by FDIC
Bank of America – cut 24 mortgage servicing jobs in Brea, CA
Bank of America – cut 174 distressed mortgage jobs at Simi Valley, CA locations
Bank of America – closed home lending office in Marlton, NJ, 136 layoffs
Bank of America – cut 1,000 mortgage jobs in Ohio, closing offices in Beachwood, Cincinnati, and Independence
Bank of America – cut 152 jobs in Sunrise, FL
Bank of America – reportedly closing old Countrywide Mortgage branches
Bank of America – cut roughly 4,000 more mortgage jobs by end of 2013
Bank of America – cut 209 jobs at call center for distressed mortgages in Pittsburgh, PA
Bank of America – closed Maitland mortgage facility, cut 53 jobs
Bank of America – cut 411 loan servicing jobs in Texas
Bank of America – cut 543 jobs in Fresno
Bank of America – slashed 113 mortgage jobs in Dallas
Bank of America – cut 1,320 jobs at Getzville, New York mortgage-servicing facility
Bank of America – cut 469 jobs from Newark, NJ mortgage servicing center
Bank of America – cut 57 mortgage assistance jobs in Rancho Cordova, CA
Bank of America – laid off 675 workers in Fort Lauderdale
Bank of America – shut its correspondent mortgage business, layoffs
Bank of America – cut 34 jobs at Saratoga Springs, NY mortgage office
Bank of America – halts reverse mortgage lending
Bank of America – halts wholesale mortgage lending
Bank of America – to cut up to 35,000 jobs
Bank of America – to buy Countrywide
Bank of America – Countrywide merger possibility, continued layoffs
Badger State Bank – shut by FDIC
Bank of America – to cut 30,000 jobs
Bank of America – cutting 3,000 jobs in investment banking unit
Bank of America – to cease wholesale lending, 700 layoffs
Bank of America – to cut 650 jobs, sell its prime brokerage unit
Bank of America – cut 224 jobs in Tampa, 195 in Troy
Bank of America – to cut 7,500 jobs post merger
Bank of America – completes purchase of Countrywide
Bank of America – to buy Merrill Lynch
Bank of Choice – shut by FDIC
Bank of Clark County – shut down by FDIC
Bank of the Commonwealth – shut by the FDIC
Bank of Ellijay – shut by FDIC
Bank of Elmwood – shut down
Bank of Granite and Granite Mortgage Inc. – to combine, layoffs
Bank of Florida (Tampa, Southwest, Southeast) – shut by FDIC
Bank of Hiawassee – shut by FDIC
Bank of Illinois – shut by FDIC
Bank of Jackson County – closed by FDIC
Bank of Leeton – shut by FDIC
Bank of Lincolnwood – shut by FDIC
Bank of Shorewood – shut by FDIC
Bank of the Eastern Shore – shut by FDIC
Bank of Wausau – shut by FDIC
Bank of Whitman – shut by FDIC
Bank of Wyoming – shut by FDIC
BankMeridian – shut by FDIC
BankUnited – ceased wholesale lending, layoffs
BankUnited – bank failure
BankUnited – to close four wholesale mortgage sales offices, 200 layoffs
BankUnited – cut another 160 jobs
BankUnited – cut 115 jobs in Miami Lakes, FL
Bank USA – shut down
Barclays Bank PLC – bought Equifirst
Barclays Bank PLC – sold HomEq Servicing to Ocwen Financial
Barnes Banking Company – shut by FDIC
Bartow County Bank shut by FDIC
Basis Yield – Australian hedge fund files for bankruptcy due to subprime lending woes
Bath Building Society (UK) – halt mortgage lending
Bay Capital Corp. – closed
Bay National Bank – shut by FDIC
BayRock Mortgage Corp. – ceased wholesale lending
Bayside Savings Bank – shut by FDIC
Bayview Financial – cut 60 jobs
BB&T – bought Collateral Real Estate Capital
BB&T – to shut subprime wholesale lending unit
BC Bancorp – shut down
BC National Banks – shut by FDIC
Beach First National Bank – shut by FDIC
Beacon Financial Mortgage Bankers Corp. – filed bankruptcy
Bear Stearns – layoffs
Bear Stearns – closed two hedge funds after huge subprime losses, 240 subprime layoffs
Bear Stearns – merging Encore Credit and Bear Stearns Residential Mortgage into one unit
Bear Stearns – more layoffs
Bear Stearns – cuts 150 jobs in Irvine, CA
Beazer Mortgage Corp. – halts loan origination
Beazer Homes – closed office, layoffs, subpoenaed for fraud
Beazer Homes – cut 25% of staff
Belvedere Trust Mortgage – two default notices, unlikely to pay back loans
Ben-Ezra & Katz – cut nearly half of staff
Ben-Ezra Law Firm – cuts 146 jobs, exits foreclosure space
Benchmark Bank – shut by FDIC
Beneficial Finance – layoffs
BF Saul Wholesale Group – layoffs and closures, could be dissolved
BlackandWhite.co.uk – halts lending, layoffs
Blackstone Group – buying PHH Mortgage
Blue Ridge Savings Bank, Inc. – shut by FDIC
BMC Capital – to acquire NMB Capital
BNC Mortgage – filed bankruptcy
BNC Mortgage LLC – shut down – consolidated with Aurora Loan Services layoffs
BNC Mortgage – cut 175 jobs in Nor. Cal, 400 in So. Cal
BNY Mortgage – changes name to EverBank Reverse Mortgage
Bradford & Bingley (UK) – nationalized, 370 layoffs
Bradford Bank (MD) – shut by FDIC
Bramble Savings Bank – shut by FDIC
Brickwell Community Bank – shut down by FDIC
Bridger Commercial Funding – closing
Broad Street Mortgage – sold to Wausau Mortgage Corp.
Broadway Bank – shut by FDIC
BrokerSource – ceased operations
BrooksAmerica Mortgage Corp. – temporarily suspended new loan originations
BSM Financial – closed wholesale unit BrokerSource
Budget Finance Co. – layoffs
Butler Bank – shut by FDIC
Butte Community Bank – shut by FDIC
c2 Financial (UK lender) – to lay off roughly 20 percent of workforce
C & G Financial – suspended funding/production
C-BASS – acquired Fieldstone Investment Group, struggling with margin calls
California National Bank – shut down
California TD Investments LLC – filed for bankruptcy
CalPERS – home loan program suspended
Calusa Investments – website down, thought to be closed
Cambridge Home Capital – loses FHA approval
Cameron Financial Group – bankrupt
Canyon National Bank – shut by FDIC
Cape Fear Bank –shut down by FDIC
CapitalSouth Bank – shut down by FDIC
Capital One Financial – bought Beech Street Capital
Capital One Financial – bought Chevy Chase Bank
Capital One Home Loans – shutting Overland Park office, 300+ layoffs
Capital One Mortgage – 2,000 layoffs planned nationwide
Capital Six Funding – subprime and hard money lender suspended operations
CapitalSource Inc. – to acquire retail banking operations of Fremont General
Capmark Financial Group – files Chapter 11 bankruptcy
Carlile Investments Inc. – acquired All Fund Mortgage
Carolina Federal Savings Bank – shut by FDIC
Carson River Community Bank – shut by FDIC
Carteret Mortgage Corp. – to be closed down, hundreds of layoffs loom
CashCall – cut 486 jobs in Anaheim, CA
Castle Point Mortgage – will no longer accept wholesale broker applications
CBA Commercial – said to have had sizable layoffs
CBRE Realty Finance – halted lending
Centennial Bank – shut by FDIC
Centennial Mortgage and Funding Inc. / Award Mortgage – shut down
Centex Home Equity – changed its name to Nationstar Mortgage
Central Arizona Bank – closed by FDIC
Central Bank of Georgia – shut by FDIC
Central Federal Credit Union – placed in conservatorship
Central Florida State Bank – shut by FDIC
Central Pacific Mortgage – closed, TMSF cancels deal to acquire company
Central Progressive Bank – shut by FDIC
Central States Mortgage Co. – suspends operations
Century Bank FSB – to halt wholesale lending
Century Bank FSB – shut down by FDIC
Century Security Bank – shut by FDIC
CertusBank – acquired Resource Financial Services
CF Bancorp – shut by FDIC
CFIC Home Mortgage – closing down
Champion Bank – shut by FDIC
Champion Home Builders – 196 layoffs
Chapel Funding – bought by Deutsche Bank
Charcol Mortgages (UK) – cut up to 50 jobs
Charter Bank (Santa Fe, NM) –shut by FDIC
Charter Funding – believed to be closed by parent First Magnus Financial
Charter Mortgage – shut specialty lending unit
Charter National Bank and Trust – shut by FDIC
Charter Oak Bank – shut by FDIC
Charter One – exits wholesale lending
Chase – closed mortgage office in Irvine, CA, layoffs
Chase – cut 440 mortgage jobs in Columbus, Ohio area
Chase – shut mortgage office in Troy, Michigan that handled refis and loan mods, 360+ layoffs
Chase – cut 145 mortgage jobs at offices in Chicago and nearby Downers Grove
Chase – cut 42 mortgage servicing jobs in Iselin, NJ
Chase – shed 97 mortgage positions in Columbus, OH
Chase – cut 500+ mortgage jobs in Texas
Chase – cut 730 jobs at San Diego loan servicing unit, eventually close office
Chase – closed Florence, SC mortgage servicing center, laying off 450 employees
Chase – cut 94 jobs at Milwaukee mortgage center
Chase – to buy Bear Stearns
Chase – closing subprime loan facility in Ontario, CA 91 layoffs
Chase – Washington Mutual merger
Chase – closed mortgage facility in Albion, NY, 400 layoffs
Chase – cut 435 jobs at three separate offices in Tampa, FL
Chase – cut 500+ mortgage assistance jobs in Florence, SC
Chase – wholesale lending division shut down
Chase – shut home equity and subprime wholesale units, layoffs
Chase – shut warehouse lending unit, cutting another 2,800 WaMu jobs
Chase – closed operation centers in CA and NJ
Chase – shut home equity processing center in Rochester, 300 layoffs
Chase – cut roughly 100 home equity jobs in Indianapolis
Chase – cut 9,200 Washington Mutual jobs
Chase de Vere Mortgage Management (UK) – to close
Chase Home Finance – closed retail subprime operations center in Woodcliff, NJ
Chase Home Finance – shut 430-employee branch in Lexington, KY
Chase Home Lending – cut 55 jobs in San Diego
Chase Home Lending – cut 52 wholesale mortgage jobs in Orange, CA
Chase Home Lending – cut 132 jobs in Ohio
Chase Home Lending – unit closing in Charlotte, 92 layoffs
Chase Home Lending – cut 266 jobs in Pennsylvania
Chase Home Mortgage – halts construction lending
Chase Wholesale Lending – shut four loan centers, cut 175 jobs
Chestatee State Bank – shut by FDIC
Chevy Chase – layoffs, to stop lending in CA
Chevy Chase – cut correspondent channel, facing class-action lawsuit
Chevy Chase – halts construction-to-perm lending
Chevy Chase – seized wholesale lending
Chevy Chase – layoffs
Chicago and Dallas Federal Home Loan Banks – proposed merger off
Chipola Community Bank – shut by FDIC
CHL Mortgages (UK) – to cut 20% of staff
Choice Capital Funding – rumored to be closed
Churchill Mortgage – laid off roughly 20 workers in Tennessee
CIBC – layoffs
CIT Group Inc. – shut down mortgage division 500+ layoffs
CIT – files for bankruptcy
CIT Group – sold remaining mortgage assets to Lone Star Funds
Citadel – buying ResMAE
Citi – cut more than 2,000 mortgage jobs by early 2014
Citi – laid off roughly 760 mortgage employees in Las Vegas
CitiFinancial – to close 376 branches, 500+ layoffs
Citigroup – shut Danville, IL call center created to handle excess refinance capacity, 121 layoffs
Citigroup – laid off 150 workers at Fort Mill, SC
Citigroup – layoffs as high as 45,000
Citigroup – bought ABN AMRO Mortgage Group, acquired assets of Argent Mortgage
Citigroup – mortgage layoffs reported
Citigroup – layoffs in collateralized debt obligation unit
Citigroup – to sell or shut down First Collateral Services
Citigroup – to layoff 2000 investment bankers/traders
Citigroup – stopped wholesale mortgage lending
Citigroup – to buy Wachovia
Citigroup – to cut 9,000 jobs
Citigroup – cut about 30 jobs in structured-credit group tied to mortgage losses
Citigroup – to close Future Mortgages (UK) and CitiFinancial (UK subprime), layoffs
Citigroup – cut 125 jobs in Texas
Citigroup – to cut up to 6,500 investment banking jobs
Citigroup correspondent – lending halted
Citi Home Equity – layoffs
CitiMortgage wholesale – to cut jobs, drop brokers
CitiMortgage – layoffs and closures
CitiMortgage – halts wholesale home equity lending, 500 layoffs
CitiMortgage – halted jumbo wholesale lending
CitiMortgage – cut 190 wholesale mortgage jobs in Des Moines, IA
CitiMortgage Wholesale – layoffs, territories realigned
Citi Residential Lending – retail mortgage unit to be consolidated
Citizens Bank – mortgage layoffs
Citizens Bank and Trust Company of Chicago – shut by FDIC
Citizens Bank of Effingham – shut by FDIC
Citizens Bank of Northern California shut by FDIC
Citizens Community Bank – shut by FDIC
Citizens First National Bank – shut by FDIC
Citizens National Bank – shut down
Citizens Republic Bancorp – to cut 60 jobs, mainly from mortgage processing
Citizens State Bank – shut by FDIC
City Bank – shut by FDIC
Clear Choice Financial – in default, bankruptcy possible
CliftonLarsonAllen – acquired Bankers Advisory Inc.
CMXL – acquired All Fund
Coast Bank – sold to First Banks of St. Louis
Coastal Bank – shut down by FDIC
Coastal Community Bank – shut by FDIC
Cobalt Capital (UK) – shut down
Cohen Financial – cut 25% of staff
Coldstream Financial Services – closed
Collateral Real Estate Capital – acquired by BB&T
Colonial Bank – shut by FDIC
Colonial National Mortgage – closing operations center in Ohio
Colonial National Mortgage – to halt wholesale lending
Colony Mortgage Corp. – closed
Colorado National Bank – shut down by FDIC
Columbia Bancorp – shut mortgage unit, cut 39 jobs
Columbia Home Loans – subprime lender closed
Columbia River Bank –shut by FDIC
Columbian Bank and Trust Co. (Kansas) – shut down by FDIC
Commerce Bank of Southwest Florida – shut by FDIC
Commercial First (UK) – halted new lending
Commonwealth Bank of Australia – to acquire Wizard Home Loans
Community Bank and Trust (Cornelia, GA) – shut by FDIC
Community Bank of Arizona – shut by FDIC
Community Bank of Lemont – shut down
Community Bank of Nevada – shut by FDIC
Community Bank of Rockmart – shut by FDIC
Community Bank of the Ozarks – shut by FDIC
Community Bank of West Georgia – shut by FDIC
Community Banks of Colorado – shut by FDIC
Community Capital Bank – shut by FDIC
Community Central Bank – shut by FDIC
Community First Bank – shut by FDIC
Community First Bank Chicago – shut by FDIC
Community National Bank – shut by FDIC
Community National Bank at Bartow – shut by FDIC
Community National Bank of Sarasota County – shut by FDIC
Community One Federal Credit Union – shut down
Community Resource Mortgage – closed its wholesale lending division, layoffs
Community Security Bank – shut by FDIC
Community South Bank (Parsons, TN) – closed by FDIC
Comunidades Federal Credit Union of Los Angeles – shut down
ComUnity Lending – halted operations, faces liquidation
Concord Mortgage Co. – believed to be out of business
Concorde Acceptance – rumored to be closed
Contact 4 (UK) – to cut 108 jobs
Cooperative Bank – shut by FDIC
Copper Star Bank – shut by FDIC
CoreLogic – closed offices in Lancaster (CA) and Simi Valley (CA), 154 layoffs
CoreLogic – purchased Case-Shiller home price indexes from Fiserv
CoreStar Financial Group – closed
Corn Belt Bank and Trust Co. – shut down by FDIC
Cortez Community Bank – shut by FDIC
Corus Bank – shut down by FDIC
Country Bank – shut by FDIC
Countrywide – combines wholesale and correspondent units
Countrywide – closing wholesale fulfillment centers
Countrywide – shut 16 wholesale loan fulfillment centers
Countrywide – believed to have shut 46 Full Spectrum Lending branches
Countrywide Correspondent Lending Division – cut 293 jobs
Countrywide Specialty Lending Division – layoffs
Countrywide Capital Market Division – cut 65 jobs
Countrywide – laid off 73 employees in Canoga Park
Countrywide – layoffs in subprime , may be bought out by Bank of America
Countrywide cutting up to 12,000 jobs, more about the Countrywide layoffs
County Bank (Merced, CA) – shut down by FDIC
Covenant Bank – shut by the FDIC
Covenant Bank & Trust – shut by FDIC
Credit Suisse – layoffs, bought LIME Financial
Credit Suisse – to cut 500 investment banking jobs
Credit Suisse – to cut 150 jobs in its investment bank unit in UK
Credit Suisse – cut 210 jobs in NYC
CreekSide Bank – shut by FDIC
Crescent Bank and Trust Company – shut by FDIC
CSB Mortgage Company – ceased wholesale mortgage lending, layoffs
CTX Mortgage – reportedly for sale
CU National Mortgage – halts lending
Dana Capital – closed
Darby Bank & Trust Co. – shut by FDIC
DB Home Lending – consolidated with MortgageIT, layoffs, rumored to be closed
Decatur First Bank – shut by FDIC
DeepGreen Financial – closed
Decision One – shut down, layoffs
Delta Financial – closed offices, 300 layoffs
Delta Financial – bankruptcy, suspends loan origination
Delta Financial Corp. – layoffs
Desert Hills Bank – shut by FDIC
Deutsche Bank Correspondent Lending Group – consolidating business to MortgageIT
DeWitt Mortgage Services & Property Management – halted lending in Georgia
Diablo Funding Group – shut down
Digital Risk – laid off 112 employees in Boca Raton, FL
Direct Finance Corp. – acquired First Call Mortgage Co.
Ditech – 181 layoffs
Ditech.com – cut 120 jobs at Costa Mesa, CA headquarters
Dollar Mortgage Corp. – being acquired by Shearson Financial Network
Domestic Bank – shutting down wholesale unit
Douglas County Bank – shut by FDIC
Dover Mortgage Company – shutting wholesale mortgage division
Dover Mortgage Co. – cut 17 employees
Downeast Mortgage Corp. – to shut down
Downey Savings – shut down by the FDIC
Downey Savings – shut wholesale channel
Draper and Kramer Mortgage – merged with 1st Advantage Mortgage LLC
Dwelling House Savings and Loan Association – shut by FDIC
eBank – shut down by FDIC
E-Loan/Banco Popular Wholesale Mortgage – to cease lending
E-loan – closed sub-prime wholesale division, layoffs
E-Loan – layoffs
E-Trade exits wholesale mortgage business
E-Trade – to halt mortgage lending
Earl Shilton building society (UK) – halts mortgage lending
Earthstar Bank – shut by FDIC
Eastern Financial Florida Credit Union – put in conservatorship
Edgewater Lending Group – halts wholesale lending
Edward Jones Mortgage – shut down, 200+ possible layoffs
Egg Mortgages (Citi-owned UK finance unit) – no longer accepting applications
Elizabeth State Bank – shut by FDIC
Ellie Mae – acquired MortgageCEO
Empire Bancorp Mortgage Bankers – shut down
Encore Bank – laid off 300 employees
ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug. 17
Encore Credit – laid off 100 Account Executives at wholesale unit in Irvine, CA
Encore Credit – merging with Bear Stearns Residential Mortgage
Enterprise Financial Services – bought Gorman & Gorman Home Loans
Entrust Mortgage – closed
Equibanc – closed by Wachovia
Equifirst – shutting down
Equifirst – layoffs, bought out by Barclays Bank PLC
EquiFirst – cut 64 jobs in Arizona
Equipoint – halted wholesale lending, shut 70+ branches
Equitable Reverse Mortgage – closed doors
Equitable Trust Mortgage Corp. – suspended by FHA
Equity One (a unit of Popular Inc.) – cut 147 jobs in Marlton, NJ
Equity Title (owned by Coldwell Banker) – layoffs
Eurobank – shut by FDIC
EverBank – laid off 302 employees in Jacksonville
EverBank Financial – ceased wholesale lending, closed three operations centers in Dallas, Jacksonville, and Sacramento while cutting 150 jobs
Evergreen Bank –shut by FDIC
Evergreen State Bank – shut by FDIC
Excel Bank – shut by FDIC
Exchange Financial – temporarily discontinuing its Wholesale/Correspondent business
Expanded Mortgage Credit – closed wholesale
Express Capital Lending – not accepting new submissions until further notice
Family First Mortgage Corp. – ceases operations, layoffs
Fannie Mae – layoffs
Fannie Mae – 200 layoffs
Fannie Mae and Freddie Mac – bailed out
Farmers’ and Traders’ State Bank – shut by FDIC
FBR Capital Markets – cut 75 jobs
FBR – selling subprime unit
Fidelity Bank – shut by FDIC
Fidelity National Financial – to buy LandAmerica (large title companies)
Fidelity National Financial – terminated LandAmerica merger
Fidelity National Information Services – cut 35 jobs in Jacksonville
Fidelity Trust Bank – selling residential mortgage company Fidelity Trust Mortgage Inc.
Fieldstone Mortgage – bankruptcy
Fieldstone Mortgage Co. – halted new business, closed Las Vegas branch, layoffs
Fifth Third Bank – wholesale mortgage layoffs in Charlotte, NC as refinance demand wanes
Fifth Third Bank – 700 layoffs
Fifth Third – to discontinue Alt-A lending
Finance America – closed
Financial Freedom – cut 65 jobs in Irvine, CA office
Financial Title Company – closing, layoffs
First Advantage – acquired CredStar
First American Bank – to cease wholesale lending
First American Corp. (title insurer) – layoffs at 1,900
First Arizona Savings – shut by FDIC
FirstBank – purchased wholesale mortgage division of StellarOne Corp.
FirstBank – to shut down wholesale mortgage division Oct. 31
FirstBank Financial Services – shut down by FDIC
FirstCity – Bank shut down by FDIC
FirstLine Mortgages (Canada’s largest mortgage broker) – stopped mortgage lending
First BankAmericano – shut by FDIC
First Bank of Beverly Hills – shut down by FDIC
First Bank of Idaho – shut down by FDIC
First Bank of Jacksonville – shut by FDIC
First Bank of Kansas City – shut down by FDIC
First Banking Center – shut by FDIC
First Banks of St. Louis – bought Coast Bank
First Capital Bank – shut by FDIC
First Centennial Bank – shut down by FDIC
First Cherokee State Bank – shut by FDIC
First Choice Bank – shut by FDIC
First Choice Community Bank – shut by FDIC
First Collateral Services (Citi) – 126 layoffs
First Collateral Services (Citi) – cut 150 jobs
First Commerce Community Bank – shut by FDIC
First Commercial Bank – shut by FDIC
First Commercial Bank of Florida – shut by FDIC
First Commercial Bank of Tampa Bay – shut by FDIC
First Community Bancorp – layoffs
First Community Bank – shut by FDIC
First Community Bank of Southwest Florida (Community Bank of Cape Coral) – shut by FDIC
FirsTier Bank – shut by FDIC
First Consolidated Mortgage Co. – subprime wholesaler shutting down, in dispute
First Coweta Bank – shut down by FDIC
First DuPage Bank – shut down
First East Side Savings Bank – shut by FDIC
First Federal Bank – shut by FDIC
First Federal Bank of California – halted wholesale lending
First Federal Bank of California – shut by FDIC
First Federal Bank of North Florida – shut by FDIC
First Fidelity Financial – closed its doors
First Franklin to be shut down, 650 layoffs
First Franklin Financial – layoffs, sold to Merrill Lynch
First Franklin – firings/layoffs rumored
First Georgia Banking Company – shut by FDIC
First Georgia Community Bank – shut down by FDIC
First Guaranty Bank and Trust Company of Jacksonville – shut by FDIC
First Heritage Bank – shut by FDIC
First Horizon – shut down mortgage operations
First Horizon – cutting 1,500 jobs, closing 50 offices
First Horizon National Corp. – divested its subprime mortgage loan portfolio
First Horizon – discontinued national construction and commercial lending, 160 layoffs
First Horizon – to sell or shut down mortgage unit
First Indiana Wholesale – closed wholesale consumer lending operations
First Integrity Bank – shut down by FDIC
First International Bank – shut by the FDIC
First Lowndes Bank – shut by FDIC
First National Bank (Rosedale, MS) – shut by FDIC
First Madison Mortgage – shut down
First Magnus – no longer funding or originating any mortgage loans
First National Bank – shut by FDIC
First National Bank of Arizona – halts retail mortgage lending, 35 layoffs
First National Bank of Danville – shut by FDIC
First National Bank of Davis – shut down by FDIC
First National Bank of Florida – shut by FDIC
First National Bank of Georgia – shut by FDIC
First National Bank of the South – halts wholesale lending
First National Bank of the South – shut by FDIC
First National Mortgage Sources – shut down
First NLC bankrupt, halts lending
First NLC Financial Services LLC – 645 layoffs
First NLC – layoffs and closures
First Mariner Bancorp – closed its wholesale mortgage lending unit
First National Bank (also operating as The National Bank of El Paso En Espanol) – closed by FDIC
First National Bank of Anthony – shut by FDIC
First National Bank of Arizona – shut down by FDIC
First National Bank of Central Florida – shut by FDIC
First PacTrust Bancorp, Inc. – acquired Gateway Bancorp
First Peoples Bank – shut by FDIC
First Piedmont Bank – shut by FDIC
First Priority Bank – closed by FDIC
First Regional Bank – shut by FDIC
First Security Loan Corp. – to shut down
First Security National Bank – shut by FDIC
First Source Funding Group – closed
First Southern Bank – shut by FDIC
First Southern National Bank – shut by FDIC
First State Bank – shut by FDIC
First State Bank (AZ) – shut down by FDIC
First State Bank (Sarasota) – shut by FDIC
First State Bank of Altus – shut by FDIC
First State Bank of Winchester – shut by FDIC
First Street Financial – closed
First Suburban National Bank – shut by FDIC
First United Bank – shut by FDIC
First Vietnamese American Bank – shut by FDIC
Fitch Ratings – to cut 150 jobs
Flagship National Bank – shut down
Flagstar Bank – layoffs total 300 in Troy, MI due to outsourcing
Flexpoint Funding – reportedly closed wholesale division, now completely shut down
Flick Mortgage – closed
FMF Capital LLC – closed
Florida Community Bank – shut by FDIC
FNBA – wholesale division and correspondent line shut down, 541 layoffs
Fort Lee Federal Savings Bank, FSB shut by FDIC
Fortes Financial – halted lending
Fortes Financial – acquired five former National City regional wholesale offices
Founders Bank – shut by FDIC
Foxtons, Inc. – filed Chapter 11 bankruptcy
Franklin American – suspends jumbo wholesale lending
Franklin Bank – shut down by FDIC
Franklin Bank Corp. – closing warehouse line, layoffs
Franklin Credit Management Corp. – suspends loan acquisition and origination
Freddie Mac – cut 100+ jobs
Freedom Bank – shut down by FDIC
Freedom Bank of Georgia – shut down by FDIC
Freedom Financial – shutting down
Freestand Financial – closed
Fremont General – exited secondary sub-prime market, layoffs
Fremont General – filed Ch. 11 bankruptcy
Fremont Investment & Loan – laid off 243 employees in Ontario, CA
Fremont Investment & Loan – cut 243 jobs in CA
Frontier Bank – shut by FDIC
Frost Mortgage – partnered with First Houston
FundingAmerica – not accepting any new business
Gateway Bank – suspends wholesale lending
Gateway Bank of St. Louis – shut by FDIC
GB – Mortgage shutting down
GE – mulling sale of Australian mortgage unit Wizard Home Loans
General Electric – buying PHH Corporation
GE Money (Ireland) – halted mortgage lending, cut 80 jobs
GE Money (AU & NZ) – cut 335 jobs
GE Money Canada – to halt mortgage lending
Genpact Mortgage Services Inc. – cut 81 jobs in Irvine, CA
Genpact Mortgage Services Inc. – cut 65 mortgage processing jobs in Richardson, TX
Genworth Financial – cut 400 jobs to reduce costs
Genworth Financial – cutting roughly 1,000 jobs
Genworth Financial – acquired Liberty Reverse Mortgage
George Washington Savings Bank – shut by FDIC
Georgia Trust Bank – shut by FDIC
Georgian Bank – shut down by FDIC
Glasgow Savings Bank – shut by FDIC
Gleacher & Company – cut 160 employees in mortgage-backed securities unit
Global Commerce Bank – shut by FDIC
Global Mortgage Inc. – to be shut down
GMAC Mortgage – cutting 84 jobs in West Hartford, 45 in Charlotte
GMAC Mortgage – to shut all 200 retail offices
GMAC Mortgage – cut 68 jobs in Cherry Hill, New Jersey
GMAC Residential Funding (Canada) – suspended subprime mortgage origination
GMAC – in talks to sell Mexican mortgage units to Ixe Bank (Mexico)
GMAC-RFC (UK) – closed subprime subsidiary High Street Home Loans, 200 layoffs
GMAC-RFC (UK) – to halt loan origination, 130 layoffs
Gold Canyon Bank – shut by FDIC
Golden Empire Mortgage – closed wholesale division GEM Capital Funding
Golden State TD Investments LLC – filed for bankruptcy
Goldman Sachs – purchased Litton Loan Servicing
Goldman Sachs – to cut 1,500 jobs
Granite Community Bank – shut by FDIC
Great Basin Bank of Nevada – shut down by FDIC
Greater Buffalo Savings Bank – halted residential mortgage lending, closed unit
Great Southwest Mortgage – believed to be closed by parent First Magnus Financial
Greater Atlantic Bank – shut by FDIC
Greenpoint Mortgage – closed, 1900 employees laid off, 31 branches closed
Greenpoint Mortgage – shut servicing center in Columbus, GA, 220 layoffs
Group One Lending shut down
Guaranty Bank – sold Shelter Mortgage LLC to CIVC Partners
Guaranty Bank – shut down by FDIC
Guaranty Bank – to exit warehouse lending
Guaranty Bank – to shut correspondent lending unit
Guaranty Financial – cut 10 percent of workforce
Guaranty Residential – layoffs
Guardian Loan Co. – shut down
Guild Mortgage Co. – acquired Liberty Financial Group
Gulf State Community Bank – shut by FDIC
GulfSouth Private Bank – shut by FDIC
H&R Block Mortgage Corp. – 353 layoffs
H&R Block – to cut 505 jobs related to closure of Option One
Habersham Bank – shut by FDIC
Harbourton Mortgage Investment Corporation (HMIC) – closed
HarVest Bank of Maryland – shut by FDIC
Haven Trust Bank – shut down by FDIC
Haven Trust Bank Florida – shut by FDIC
HBOS – shut Mortgage Business (UK), 325 possible layoffs
Heartland Bank – shut by FDIC
Heartland Mortgage Co. – bought Merrlin Mortgage Corp.
Heartland Wholesale Funding – ceased wholesale lending
Heartwell Mortgage – closed
Heritage Bank – shut down by FDIC
Heritage Bank of Florida – shut by FDIC
Heritage Bank of North Florida – shut by FDIC
Heritage Banking Group shut by FDIC
Heritage Community Bank – shut down by FDIC
Heritage Plaza Mortgage – closed
HFF Inc. – cut 57 jobs
High Desert State Bank – shut by FDIC
High Trust Bank – shut by FDIC
Hillcrest Bank – shut by FDIC
Hillcrest Bank Florida – shut down
HMIC – closed
Home 123 Mortgage – closed
HomeBanc Mortgage Corp. – layoffs, filed bankruptcy, sold branches to Countrywide
Home Capital Inc. – closes
Homecomings Financial – to cease lending
Homecomings Financial – laid off 284, including 207 AEs
Homecomings Financial – cut 60 jobs in Bellevue, WA
Home Equity Mortgage Co. – placed in temporary receivership
Home Equity of America – layoffs
Home Federal Savings Bank – shut by FDIC
Homefield Financial – closed
Homeland Capital Group – subprime wholesaler closed
Home Loan Center Inc. / Lending Tree – hundreds of layoffs nationwide
Home Loan Center Inc. / Lending Tree – cut 119 jobs in Irvine
Home Loan Consultants – closes
Home Loan Corp. – closed Expanded Mortgage Credit subsidiary
Home Loan Investment Bank – laid off roughly 30 employees
Home Loan Services (Merrill servicing arm) – for sale
Home Loan Specialists Inc. (HLS) – closed its doors
Home National Bank – shut by FDIC
Home Savings of America – shut by FDIC
Home Valley Bank – shut by FDIC
Homestead Mortgage – will close its wholesale division
Hometown Community Bank – shut by FDIC
Homeview Lending Inc. – layoffs, now appears to be closed
Homeward Residential – cut 370 jobs
Homewide Lending Corp. – closed
Honor State Bank – closed wholesale lending department
Horizon Bank – shut by FDIC
Housevalues Inc. – laid off 160 workers, closed Yakima call center, shut mortgage lead biz
HSBC – stopped wholesale, correspondent lending
HSBC – to cut 1100 jobs
HSBC Holdings PLC – closing mortgage office, 600 layoffs
HSBC Mortgage – cut 80 jobs in NY
HSBC Mortgage Services (Correspondent division) – closed, layoffs
HSBC Financial Corp. Ltd. (Canada) closing 30 branches, 300 potential layoffs
HSBC – to shut down HFC, Beneficial
HSBC – shuts down Decision One
HSBC Financial Corp. Ltd. (Canada) – closing 30 branches, 300 potential layoffs
HSBC – halts trading of mortgage-backed securities in U.S., 120 layoffs
HSBC – closing 260 consumer lending branches
HSBC Mortgage – laid off 302 employees in Jacksonville
HSBC Mortgage Services – cut 48 jobs in Virginia
HUD – to close some regional offices thanks to budget cuts, 900 employees affected
Huntington Bancshares – laid off 200 mortgage employees during third quarter
Huntington Financial – to be acquired by Oxford Funding
Hypo Real Estate (Germany) – nationalized
Icon Residential Lenders, LLC – sold to Rushmore Loan Management Services
Ideal Federal Savings Bank – shut by FDIC
Ideal Mortgage Bankers – to exit wholesale lending, layoffs
Igate Global Solutions (India) – redeploying roughly 150 employees into other services
IKB Industriebank (Germany) – losses near $1bn as a result of subprime exposure in US
Impac Mortgage – closed 23 retail branches and one fulfillment center, cut 180 jobs
Impac Mortgage – sold AmeriHome Mortgage Corp. subsidiary
Impac Mortgage – stops Alt-A lending, 144 laid off
Impac Mortgage – 350 recent layoffs, halted Alt-A loan production
Imperial Capital Bank – shut by FDIC
Imperial Savings and Loan Association – shut by FDIC
InBank (IL) – shut down by FDIC
Independent Bankers’ Bank – shut FDIC
Independent National Bank – shut by FDIC
Indymac – sold to private investor group
Indymac Federal – now OneWest Bank Group
Indymac – filed bankruptcy
Indymac – shut down
Indymac – halts most lending, thousands of layoffs
IndyMac – layoffs, branch closures
Indymac – bought retail arm of New York Mortgage Trust, Indymac layoffs
IndyMac – stopped construction-to-perm lending
IndyMac – closed Ontario, CA-based operations center
IndyMac Commercial Lending Corp. – halted lending operations
ING – cut 2,400 jobs
ING – to cut 7,000 jobs
ING – to buy Interhyp AG (largest German residential mortgage broker)
ING Direct – exited wholesale mortgage business
ING Netherlands – cut 10 percent of jobs at mortgage unit
Innovative Bank – shut by FDIC
Innovative Mortgage Capital – closed
Integra Bank National Association – shut by FDIC
Integrity Bank – shut by FDIC
Integrity Bank of Alpharetta, Georgia – shut down by FDIC
InterBay Funding – laid off 75 workers
Inter Savings Bank – shut by FDIC
Investaid Corp. – suspended operations indefinitely
Irwin Home Equity – layoffs
Irwin Union Bank –shut down by FDIC
Irwin Union Bank and Trust Co. – shut down by FDIC
Irwin Union Bank & Trust Co. – stopped wholesale lending
ISN Bank – shut by FDIC
Ivanhoe Mortgage – closed
Jasper Banking Company – shut by FDIC
Jennings State bank – shut down by FDIC
John Warner Bank – shut by FDIC
JPMorgan Chase – will cut 13,000 to 15,000 mortgage jobs by year-end 2014
JPMorgan Chase – cut 839 temporary employees after foreclosure review overhaul
JP Morgan Chase – layoffs reported in loan structuring group, CMBS group , and UW group
K Bank – shut by FDIC
KBC Bank NV (Belgium) – bought Vertical Lend
Kensington Mortgages (UK) – temporarily withdrawing from the mortgage market
Kensington Mortgages (UK) – cut 20 percent of staff
Kensington Mortgages (UK) – cut 75 jobs
KeyBank Real Estate Capital – halted lending
KeyBank Real Estate Capital – cut 100+ jobs
Keycorp – exited subprime mortgage business, layoffs
Key West Bank – shut by FDIC
Keys Federal Credit Union – shut down
KH Funding – filed for Chapter 11 bankruptcy
Kirkwood Financial Corp. – suspended wholesale originations
KKR Financial Holdings –no longer intends to invest in residential real estate
Kondaur Capital Corp. – cut 155 jobs
La Jolla Bank – shut by FDIC
Lakeside Community Bank – shut by FDIC
Lancaster Mortgage Bankers – closed
LandAmerica Financial Group Inc. – will cut 1,100 jobs (title company)
Landesbank Sachsen Girozentrale (Germany) – sold to Landesbank Baden-Württemberg
LandMark Bank of Florida – shut by FDIC
Law Offices of David J. Stern – to shut down, layoffs
Legacy Bank – shut down by FDIC
Lehman Brothers – filed Chapter 11 bankruptcy
Lehman Brothers – cut 140 mortgage-securities trading jobs
Lehman Brothers cut 850 jobs
Lehman Brothers – to cut 1425 jobs globally + another 1,500
Lehman Brothers – cut 200 jobs from its UK mortgage firms
Lehman Brothers – to close UK subprime lending units SPML and Preferred Mortgages
Lehman Brothers Bank – cut 126 jobs in Lake Forest, CA
Lehman Brothers Bank – cut 85 jobs in Lake Forest, CA
Lehman Bros. Small Business Finance – no longer accepting loan applications
Lehman Bros Dutch mortgage unit “Elq Hypotheken” – ceased lending
Lend America – closed
Lender’s Direct Capital Corporation – closed wholesale lending operations
Lending group Inc. – suspended operations
LendingTree.com – closed Carmel, IN office, 64 layoffs
Lending Tree – 20% of workforce laid off (fresh ones on Aug. 17)
LendingTree – layoffs, mainly in Irvine, CA
Lennar Corp. – over 4,000 layoffs at big Miami home builder
Lenox Financial Mortgage – receives cease and desist from Georgia Department of Banking and Finance
Lexington Lending halts wholesale operations
Levitt and Sons LLC (homebuilder) – laid off a third of staff
Levitt and Sons LLC (homebuilder) – filed for Ch. 11 bankruptcy
Liberty American Mortgage – halted wholesale lending
LibertyBank – shut by FDIC
Liberty Home Lending – ceased wholesale lending
Liberty Mortgage Corp. – ceased wholesale lending
Liberty Mortgage Funding Co. – filed for Ch. 7 bankruptcy
Liberty One Lending – ceased operations
LIME Financial Services (Credit Suisse wholesale) – ceased lending
LIME Financial Services, Ltd – sold to Credit Suisse, downsized from 450 to 225
Lincoln Park Savings Bank – shut by FDIC
Lloyds TSB – to buy Halifax Bank of Scotland for $22 billion
Loancity – closed 7 branches, shut down
LoanDepot and imortgage.com – merged
Loans 123 – no longer taking anymore business
London & Scottish Mortgages (LSM:UK) – stopped accepting new applications
Lone Star – facing lawsuit over purchase of Accredited Home Lenders
Lone Star – to buy Bear Stearns Residential Mortgage Corp.
Long Beach Mortgage Co. (WAMU) – winding down operations
Long Mortgage – lost financing, parent First Magnus trying to dissolve unit
Los Padres Bank – shut by FDIC
LowerMyPayment.com – closed, mortgage lead company
Lownhome Financial – closed
Luminent– layoffs, two default notices, selling equity stake to Arco Capital Corp.
Luminent Mortgage – filed Chapter 11 bankruptcy
Lydian Mortgage – shut wholesale, layoffs
Lydian Private Bank – shut by FDIC
M&T Bank – cut wholesale mortgage jobs
M&T Bank – acquired Hudson City Savings Bank, 384 layoffs
MacQuarie Mortgages USA – halts loan origination
MacQuarie Mortgages USA – laid off 69 employees
McIntosh Commercial Bank – shut by FDIC
McIntosh State Bank – shut by FDIC
Madisonville State Bank – shut down
MagnetBank – shut down by FDIC
Main Street Bank – shut down by FDIC
Mainstreet Bank (MN) – shut by FDIC
Mainstreet Savings Bank – shut by FDIC
Mandalay Mortgage – closed
Marco Community Bank – shut by FDIC
Maribella Mortgage – closed
Maritime Savings Bank – shut by FDIC
Market Street Mortgage – layoffs
Market Street Mortgage – to be broken up and sold in pieces, 53 layoffs
Marlin Mortgage Company, LLC – shut it doors
Marshall Bank – shut by FDIC
Master Financial – layoffs, ceased wholesale production
Maverick Residential Mortgage – reportedly closed
MCAN Mortgage Corporation – acquired Xceed Mortgage (Canada)
MEM Financial Solutions – filed for bankruptcy
Mercantile Mortgage – ceased operations
Meridian Bank – shut down by FDIC
Meridias Capital – layoffs, rumors of employees not being paid
Meritage Mortgage – closed, staff employed by LIME Financial
Merrill Lynch – bought First Franklin
Merrill Lynch – to cut 4,000 jobs
Merrill Lynch – halted all lending at UK subsidiary Wave, layoffs
Merrlin Mortgage Corp. – acquired by Heartland Mortgage Co.
MetLife – halted reverse mortgage lending, sold servicing rights to Nationstar Mortgage
Metlife – shut down its forward mortgage division, 4,000+ layoffs
MetLife – acquired EverBank Reverse Mortgage LLC
MetLife – to buy First Horizon mortgage unit
MetLife Bank – cut 116 jobs in Irving, Texas
Metro Bank of Dade County – shut by FDIC
Metrocities Mortgage – now Prospect Mortgage
Metrocities Mortgage – stopped wholesale lending
Metrocities Mortgage – dissolved No Red Tape Mortgage, layoffs
Metrocities Mortgage – acquired Mortgage Services Unlimited
Metro Pacific Bank – shut by FDIC
MCAP Financial (Canada) – suspended subprime lending through its Eclipse division
MGIC – bought rival mortgage insurance provider Radian Group (abandoned)
MGIC Investment Corp. – cut 19 jobs at Milwaukee headquarters
Miami Valley Bank – shut down by the FDIC
Michigan Mutual – cut 68 mortgage jobs in Southfield
Mid City Bank, Inc. – shut by FDIC
Midwest Bank and Trust Company – shut by FDIC
Millenium Bankshares – closed mortgage division
Millenium Funding Group – closed
Millennium Mortgage Corp. – halted wholesale lending
Millennium State Bank of Texas – shut by FDIC
Mirae Bank –shut by FDIC
MLSG – halted lending operation
Montgomery Bank & Trust – shut by FDIC
Morgan Stanley – sold Saxon Mortgage to Ocwen
Morgan Stanley – to lay off 300 employees in securities division
Morgan Stanley – to sell City Mortgage Bank (Russian mortgage unit)
Mortgage Bankers Association – layoffs
Mortgage Capital Resource Corp. – closed
MortgageIT – layoffs and branch closure
Mortgage Investors Group (MIG) – closed wholesale division
Mortgage Investment Lending Associates (MILA) – subprime wholesale closed
Mortgage Network Inc. – halted wholesale and correspondent lending
Monarch Bank – buying mortgage-related assets from Resource Bank
Morgan Stanley – bought Saxon Mortgage
Morgan Stanley – cut over 1,000 jobs
Morgan Stanley – to cut 1,500 jobs
Morgan Stanley cuts 600 mortgage jobs
Mortgage Investment Lending Associates – closed
Mortgage Investors Corp. – cut 380 jobs in St. Petersburg, Florida
Mortgage Investors Corp. – cut 476 employees, stopped taking new applications
MortgageIT – halted wholesale lending
MortgageIT – consolidated with DB Home Lending, rumored to be offering agency loans only
Mortgage Network Inc. – acquired Partners Group Unlimited
Mortgage Next (UK) – layoffs
Mortgage Lenders Network – stopped residential loan production
MortgageTree Lending – closed, website down
Mortgages Ltd. – filed for Ch. 11 bankruptcy
Mountain Heritage Bank – shut by FDIC
Mountain National Bank – closed by FDIC
Mutual Bank – shut by FDIC
MVB Bank – purchased Potomac Mortgage Group
Mylor Financial – closed
National Bank of Commerce – shut down by FDIC
National City – ceases wholesale lending
National City – exits correspondent lending business
National City – laid off 1,300, National City branch closures and layoffs
National City – cut 50 jobs in San Diego
National City – to exit warehouse lending
National Home Equity – consolidated by National City Corp., suspended originations, layoffs
National Wholesale Funding – halted operations
NationPoint – halts loan origination, layoffs
Nationpoint – 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 mortgages
Nationstar Mortgage – sold wholesale division to Stonegate Mortgage, 1,000+ layoffs
Nationstar Mortgage – acquired Greenlight Financial
Nationstar Mortgage – purchased $10.4 billion in loan servicing rights from Bank of America
Nationstar Mortgage – acquired ResCap mortgage servicing assets
Nationstar Mortgage – acquired Champion Mortgage, closed multiple offices, incl. Denver office Sept. 10
Nationstar Mortgage – halts wholesale lending
Neighborhood Community Bank – shut by FDIC
NetBank – shut down by FDIC due to excessive mortgage defaults
Netbank Funding – closed
NetMore America Inc. – layoffs
Nevada Commerce Bank shut by FDIC
Nevada Security Bank – shut by FDIC
New Century – filed bankruptcy
New Century Bank – shut by FDIC
New City Bank – shut by FDIC
New England Merchants Corp. – received cease and desist order
New Equity Mortgage – merged with Advent Mortgage
New Frontier Bank – shut by FDIC
New Horizons Bank shut by FDIC
New Horizons Reverse Mortgage Inc. – filed for Chapter 7 bankruptcy
New Liberty Bank – shut by FDIC
New Penn Financial LLC – acquired Resurgent Mortgage Servicing
New South Federal Savings Bank – halts all mortgage lending
New South Federal Savings Bank – shut by FDIC
New State Mortgage Company – ceased wholesale lending operations
New Vision Residential Lending – to close at end of month
Nexity Bank shut by FDIC
Nikko Citigroup – to cut 10% of staff
Nomura Securities – closed its nonconforming mortgage conduit and laid off staff
Nomura Holdings – to shut mortgage-backed securities business, 1300 job cuts
Norddeutsche Landesbank – made offer for Deutsche Hypothekenbank AG
No Red Tape Mortgage – dissolved by Metrocities
Northern Georgia Bank – shut by FDIC
Northern Rock (UK) – seeks Bank of England bailout, issued profit warning
Northern Rock – sold $4.3 billion mortgage portfolio to JP Morgan Chase
Northern Rock – to cut 2000 jobs
North County Bank – shut by FDIC
North Houston Bank – shut down
Northstar Bank of Texas – acquired Goldome Financial, Inc.
Northwest Bank & Trust – shut by FDIC
NOVA Bank – shut by FDIC
NovaStar layoffs
Novastar – closed wholesale unit, facing potentially huge lawsuit, laying off 37% of workforce
Novastar cutting 275 jobs, closing 12 retail origination offices
Novastar – job cuts expected from sale of servicing unit
Novelle Financial – said to have ceased operations
NVR Mortgage Finance (builder) – restricted from offering Alt-A, subprime and piggyback loans
Oakmont Mortgage – closed
Oak Street Mortgage – closed, files bankruptcy
Ocala National Bank – shut down by FDIC
Ocwen Financial Corp. – cut 800+ jobs nationwide
Ocwen Financial Corp. – bought Clearpoint Mortgage
Ocwen Financial Corp. – completed purchase of reverse mortgage lender Liberty Home Equity Solutions
Ocwen Financial Corp. – bought Kent County State Bank
Ocwen Financial Corp. – acquired Homeward Residential Holdings Inc.
Oglethorpe Bank – shut by FDIC
Old Harbor Bank – shut by FDIC
Old Southern Bank – shut by FDIC
Olde Cypress Community Bank – shut by FDIC
OMG Wholesale – suspended operations
Omni National Bank – shut down by FDIC
One Georgia Bank – shut by FDIC
OneCap Mortgage Corp. – license revoked
OneWest Bank – to halt reverse mortgage lending
OneWest Bank – cut 78 jobs in Pasadena, 102 in Irvine, CA
OneWest Bank – cut 725 jobs in Austin, TX after Ocwen purchases mortgage servicing rights (MSRs)
Opteum – closed conduit and wholesale operations
Optima Funding – reported to have ceased operations
Optimal Blue – acquired LoanSifter
Option One – shut down
Option One – buyout in jeopardy
Option One – layoffs, pending sale to Cerberus Capital Management LP
Option One – cut 50 jobs in Bay Area
Opus Mortgages (UK) – put into liquidation
Own It Mortgage – closed
Origen Correspondent Mortgage Group – to be shut down
Origen Financial – ceased Texas ops, cut 96 jobs
Orion Bank – shut by FDIC
Oxford Funding – acquiring Huntington Financial
Pacific American Mortgage (PAMCO) – no new submissions, halted operations
Pacific Coast National Bank – shut by FDIC
Pacific Mercantile Bank – exited the consumer mortgage origination business
Pacific National Bank – shut down
Pacific State Bank – shut by FDIC
Pacific Union Financial – layoffs
Palm Desert National Bank – shut by FDIC
Palos Bank and Trust Company – shut by FDIC
Pan American Mortgage – cut 443 jobs
Paragon Home Lending – said to be shut down
Paragon Mortgages (UK) – laid off 62 Mortgage Trust staff
Paramount Bank – shut by FDIC
Park National Bank – shut down
Parkway Bank – closed by FDIC
Partners Bank – 100th bank failure of 2009
Partners Group Unlimited – bought out by Mortgage Network Inc.
Patriot Bank of Georgia – shut by FDIC
Patriot Bank Minnesota – shut by FDIC
Paul Financial – suspends loan origination
Paul Financial LLC – cut 57 jobs
Peninsula Bank – shut by FDIC
People’s Choice Financial Corp. – bankrupt
Peoples Community Bank – shut by FDIC
Peoples First Community Bank – shut by FDIC
People’s Mortgage – closed
Peoples State Bank – shut by FDIC
Peotone Bank and Trust Company – shut by FDIC
PFF Bank and Trust – shut down by the FDIC
PHH – merger terminated
PHH Mortgage – laid off 365 mortgage workers in Jacksonville
PHH Mortgage – laid off 140 in Providence, 300 more from NJ and FL offices
Piedmont Community Bank – shut by FDIC
Pierce Commercial Bank – shut by FDIC
Pillar Processing – cut 601 employees at Long Island offices
Pinehurst Bank – shut by FDIC
Pinnacle Bank of Oregon – shut down by FDIC
Pinnacle Direct Funding Corp – merged with Tri-Star Lending
Pinnacle Financial Corp. – acquired by Impac Mortgage Holdings, closed
Pisgah Community Bank – closed by FDIC
Plantation Federal Bank – shut by FDIC
Platinum Community Bank (IL) – shut down by FDIC
PMI Group Inc. (mortgage insurer) – filed for Chapter 11 bankruptcy
PNC – to close Capstone Realty Advisors (commercial mortgage unit)
PNC Bank – shed dozens of mortgage workers amid refinance slowdown
PNC Bank – discontinued wholesale home equity lending
PNC Bank – to cut 5,800 jobs
PNC Banl – to cut 30 workers at loan servicing center in Dayton
Polk County Bank – shut by FDIC
Popular Financial Holdings – exited the wholesale sub-prime mortgage market
Popular Inc. – cut 167 loan servicing jobs in New Jersey
Popular Mortgage Corp. – shut down
Popular Warehouse Lending – no longer accepting applications
Portellus, Inc. (software) – winding down mortgage division, selling mortgage assets
Precision Financial Inc. – closed
Preferred Home Mortgage Co. – cut 75 jobs
Premier American Bank – shut by FDIC
Premier Bank – shut by FDIC
Premier Community Bank of the Emerald Coast – shut by FDIC
Premier Mortgage Funding, Inc – filed for bankruptcy
Premium Funding Corp. – closed
Primary Residential Mortgage Inc. – acquire The Executive Mortgage Group
Principal Mortgage Fund, Inc. – to buy Fair Home Lending Financial, Inc.
Priority Funding Mortgage Bankers – believed to have ceased operations
Promontory Financial Group – cut hundreds of employees conducting foreclosure reviews
Progress Bank of Florida – shut by FDIC
Prospect Mortgage – acquired Diamond Mortgage Group
Prosperan Bank – shut by FDIC
Provident Financial Plc (top UK subprime lender) – slashed 170 jobs
Provincial Bank – acquired United Residential Mortgage
Property Finance Group (New Zealand) – halted trading amid liquidity concerns
Prospect Mortgage – to acquire 80 Indymac branches, 750 employees
Prospect Mortgage – buying Fidelity Trust Mortgage Inc.
Prospect Mortgage – acquired Indymac branches
PSM Holdings, Inc. – acquired Brookside Mortgage LLC
Public Savings Bank – shut by FDIC
Pulte Homes – 2,000 layoffs
Pulte Mortgage – layoffs
Pulte Mortgage – shutting Charlotte processing center, nearly 90 layoffs
Putnam State Bank – shut by FDIC
Quality Home Loans – filed for bankruptcy, sold to hedge fund manager Michael Klein
Quick Loan Funding – layoffs, now reported closed
Quicken Loans Inc. – suspended new hiring
Quicken Loans – layoffs
Quicken and RockBridge – acquired One Reverse Mortgage
QuoteMeARate.com Inc. – closed
QHL Holdings Fund Ten LLC – filed for bankruptcy
R-G Premier Bank of Puerto Rico – shut by FDIC
Radian (mortgage insurer) – cut 7% of its workforce
Rainier Pacific Bank – shut by FDIC
RAMS Home Loans (Australia) – warned of profit losses after only two weeks on stock market
Ravenswood Bank – shut by FDIC
Realty Mortgage – shut down, 300+ layoffs
Regions Financial Corp. – closed warehouse lending unit
Regions Financial Corp. – shut Little Rock mortgage servicing facility
Renasant Corporation and First M&F Corporation – merged
Republic Federal Bank – shut by FDIC
Residential Capital LLC – filed for bankruptcy
ResCap – layoffs
ResCap – halts Dutch mortgage lending
ResCap – bankruptcy fears
ResCap – layoffs
ResCap – closed offices, cut 470 jobs
Residential Capital LLC – cutting roughly 1,000 jobs (GMAC company)
Residential Finance of Columbus Ohio – reportedly “hacked 19 branches yesterday and a regional manager,” per reader tip
ResMae Mortgage Corp. – cut 182 jobs in Brea
ResMae Mortgage Corp. – layoffs, bankrupt/for sale, closing Dallas facility
ResMae Mortgage Corp. – halted loan submission, cut over 150 jobs
Residential Finance Corp. – branch closures, layoffs, per Inside Mortgage Finance
Residential Mortgage Capital – suspends operations
Residential Wholesale Mortgage, Inc. – acquires Government Loan Center
Resource Bank – selling mortgage-related assets to Monarch Bank
Resource Mortgage – shuttered wholesale division
Retreat Capital Management, Inc. – cut 73 jobs in Dallas
Reunion Mortgage – shut wholesale office in Florida
RFC – layoffs
Right Away Mortgage – closed
River City Mortgage to sell itself to Wintrust Financial Corp
Riverside Bank of the Gulf Coast –shut down by FDIC
Riverside National Bank of Florida – shut by FDIC
Riverview Community bank – shut down
RockBridge Commercial Bank – shut by FDIC
Rock River Bank – shut by FDIC
Rooftop Mortgages (Bear Stearns UK mortgage unit) – to close
Rose Mortgage Corp. – closed
Rosemount National Bank shut by FDIC
Royal Bank of Scotland – to cut 9,000 jobs
Royal Bank of Scotland – will slash 1,400 jobs over next two years (2013-2015)
San Diego National Bank – shut down
San Joaquin Bank – shut down
San Luis Trust, FSB – shut by FDIC
Sanderson State Bank – shut down by FDIC
Santa Cruz Mortgage – suspended operations indefinitely
Satilla Community Bank – shut by FDIC
Saxon Mortgage – wholesale closed, 1000 layoffs
Saxon – layoffs, closed correspondent unit
Saxon Mortgage – closed two loan servicing facilities in Texas, cut 680 jobs
Saxon Mortgage Services – cut 50 jobs in Texas
SCB Bank – shut by FDIC
SCME – ceases wholesale operations
SCME Mortgage Bankers Inc. – layoffs, branch closures
Scottish RE – large subprime exposure drops stock into dangerzone
Sea Breeze Financial Services, Inc. – Irvine, CA lender apparently closed
Sebring Capital Partners – closed
Second Federal Savings and Loan Association of Chicago – shut by FDIC
Secured Bankers Mortgage Company – halted operations
Secured Funding – closed
Security Bank Corp. – has six Georgia banks shut down by FDIC
Security Bank, National Association – shut down by FDIC
Security Exchange Bank – shut by FDIC
Security National Servicing Corp. – to cut 31 jobs
Security Pacific Bank – shut down by FDIC
Security One Lending – acquired OMNI Reverse
Security Savings Bank – shut down by FDIC
Security Savings Bank, F.S.B. – shut by FDIC
Senior Lending Network – no longer taking applications
Shearson Financial Network – to acquire Dollar Mortgage Corp. (fell through)
Shearson Financial Network – to file bankruptcy
Sherman County Bank – shut down by FDIC
ShoreBank – shut by FDIC
Shoreline Bank – shut by FDIC
Silver Hill Financial – cut 45 jobs
Sierra Pacific Mortgage – closed several branches
Silver Falls Bank – shut down by FDIC
Silver State Bank – shut down by FDIC
Silver State Mortgage – closed
Silverton Bank – shut by FDIC
Solent Mortgage Services (UK) – closing its door
Solent Mortgage Services (UK) – layoffs
Solstice Capital (HSBC retail) – halted lending, 130 layoffs
Sonoma Valley Bank – shut by FDIC
SolutionsBank – shut by FDIC
Solutions Funding – closed
Southern Community Bank – shut by FDIC
Southern Star Mortgage – cut wholesale lending
Southern Star Mortgage – halts loan origination
Southshore Community Bank – shut by FDIC
Southstar Funding – closed
Southwest Bank – acquired BMC Mortgage Services Inc.
Southwest Community Bank – shut by FDIC
SouthwestUSA Bank – shut by FDIC
Sovereign Bancorp – to cut 1,000 jobs
Spectrum Financial Group files bankruptcy
St. Stephen State Bank – shut by FDIC
Starpointe Mortgage – closed
State Bank & Trust of Fargo – purchased Bell Mortgage
State Bank of Aurora – shut by FDIC
State Bankshares Inc. – bought The Business Bank of Minnetonka and its Prime Mortgage division
Statewide Bank – shut by FDIC
Sterling Bank – shut by FDIC
Sterne Agee Group Inc. – acquired FBC Mortgage
Steven J. Baum P.C. – to close, 89 layoffs
Steward Financial – closed
Stone Creek Funding – closed
Stonegate Mortgage – acquired Crossline Capital
Stonegate Mortgage – acquired NattyMac
Stonewater Mortgage Corp. – halts new originations, sold to Caliber Funding LLC
Strategic Capital Bank – shut down by FDIC
Southern Colorado National Bank – shut down by FDIC
SouthStar Funding – closed
Southwest Business Corp. – purchased 15 Home Loan Corp. branches
Stewart Lender Services – acquired key assets of Allonhill, LLC
Suburban Federal Savings Bank – shut down by FDIC
Summit Financial Group Inc. – closed residential mortgage unit
Summit Mortgage Co. – to close
Sun American Bank – shut by FDIC
Sun Security Bank – shut by FDIC
Sun West Bank – shut by FDIC
Sunset Direct Lending – closed
Sunshine Mortgage Corp. – shut down
Sunshine State Community Bank – shut by FDIC
SunFirst Bank – shut by FDIC
Sunrise Bank – closed by FDIC
Sunrise Bank of Arizona – shuttered by FDIC
SunTrust – exited wholesale channel, 67 layoffs in Tampa, FL
SunTrust – cut 800 mortgage employees nationwide
SunTrust – layoffs total roughly 100 in bank’s mortgage operations nationwide
SunTrust – cut 170 jobs
SunTrust Bank – cut 86 jobs
SunTrust Bank – closing wholesale lending offices
Summit Bank – shut by FDIC
Superior Bank shut by FDIC
Tamalpais Bank – shut by FDIC
TBW – to file for bankruptcy protection, around 1000 layoffs
TeamBank – shut down by FDIC
Temecula Valley Bank – shut by FDIC
Tennessee Commerce Bank – shut by FDIC
Texas Community Bank, National Association shut by FDIC
The Bank of Bonifay – shut by FDIC
The Bank of Commerce shut by FDIC
The Bank of Miami – shut by FDIC
The Buckhead Community Bank – shut by FDIC
The Community Bank – shut down by the FDIC
The Community’s Bank (Connecticut) – shut by FDIC
The Cowlitz Bank – shut by FDIC
The Farmers Bank of Lynchburg – shut by FDIC
The First National Bank of Barnesville – shut by FDIC
The First National Bank of Olathe – shut by FDIC
The First State Bank – shut by FDIC
The Gordon Bank – shut by FDIC
The La Coste National Bank – shut by FDIC
The Lending Connection – believed to have laid off staff and ceased operations
The Members’ Own Federal Credit Union – shut down
The Money Store – will take over Amstar Mortgage branches
The Mortgage Lender (UK) – cut hundreds of jobs, may cease lending
The Mortgage Store Financial Inc. – rumored to have ceased lending, laid off most of staff
The Mortgage Warehouse – closed
The Park Avenue Bank – shut by FDIC
The Peoples Bank – shut by FDIC
The RiverBank – shut by FDIC
The Royal Palm Bank of Florida – shut by FDIC
The Tattnall Bank – shut by FDIC
Thornburg Mortgage – filed bankruptcy
Thornburg Mortgage – bankrupt, 100+ layoffs
Thornburg – bankruptcy fears, suspends fundings
Thornburg Mortgage – 5 downgrades, selling assets, denied BK, facing Wachovia lawsuit
Thornburg Mortgage –cut 29 jobs
Thunder Bank – shut by FDIC
TierOne – closed all nine loan production offices
TierOne Bank – shut by FDIC
Tifton Banking Company – shut by FDIC
Town Community Bank & Trust – shut by FDIC
Towne Bank of Arizona – shut by FDIC
TransLand Financial Services – facing involuntary Ch. 11 bankruptcy petition, layoffs
Transnational Financial Network – suspended wholesale lending operations
Triad Guaranty – halts new business, layoffs
Tri-Star Lending Group – acquired by Impac Mortgage Holdings
Trojan Lending – ceased wholesale production
Truman Bank –shut by FDIC
Trump Mortgage – closed
Turnberry Bank – shut by FDIC
Two Harbors – purchased Matrix Financial Services
UBS – to cut 8,700 jobs
UBS – to cut 5,500 jobs
UBS – to cut another 2,000 jobs
UBS Home Finance – stops wholesale lending
Ulster Bank (RBS-UK) – cut 750 jobs, close First Active mortgage unit
Union Bank, National Association – shut by FDIC
Unique Mortgage Solutions – closed, layoffs
United Americas Bank – shut by FDIC
United Commercial Bank – shut by FDIC
United Equity LLC (Baltimore) – shut down
United Guaranty – layoffs
United Residential Lending – halts wholesale lending
United Security Bank – shut by FDIC
Unity National Bank – shut by FDIC
Universal American Mortgage Co. – shut down its processing center, 57 layoffs
Universal Mortgage Corp. – to close, 100 layoffs
Unlimited Loan Resources – closed
Upland Mortgage – filed Chapter 11 bankruptcy
U.S. Mortgage Corp. – stops retail lending
USA Bank – shut by FDIC
USA Federal Credit Union – layoffs
USA Mortgage/DAS Acquisition Co. – cut 25 jobs
Valley Capital Bank – shut by FDIC
Valley Community Bank – shut by FDIC
Valley Vista Mortgage – shut down all operations
Vantus Bank (IA) – shut down by FDIC
Velocity Commercial Capital, LLC – layoffs reported
Venture Bank – shut down by FDIC
Vericrest Financial Inc. – changed its name to Caliber Home Loans Inc.
Vertex – to cut 55 jobs related to DB Mortgages account (Deutsche Bank UK)
Vertical Lend – changes name to World Alliance Financial
Vertice – shut down (Wachovia wholesale lending channel)
Vertice (Wachovia unit) – undisclosed number of job cuts in third quarter of 2007
Vertice (wholesale mortgage unit of Wachovia) – cutting 40 more jobs
Victoria Mortgage Funding – closed (UK subprime lender)
ViewPoint Bankers Mortgage – acquired 45 former CTX Mortgage employees
Vineyard Bank – shut by FDIC
Virgin Money U.S. – closed
Virginia Business Bank – shut by FDIC
Virtual Bank Mortgage – now Lydian Mortgage
Vision Development Group of Broward County LLC (condo developer) – Ch. 11 bankruptcy
W.J. Bradley Mortgage Capital Corp. – merged with State Mortgage
W.J. Bradley Mortgage Capital LLC – acquired Legacy Group Lending Inc.
Waccamaw Bank – shut by FDIC
Wachovia – halted wholesale lending, 11,000 layoffs
Wachovia – closed Equibanc, 115 layoffs in bay area
Wachovia – shut Waterbury, CT retail mortgage office, 65 layoffs
Wachovia – cut 50 mortgage processing jobs in Boynton Beach, FL
Wachovia – cut 240 mortgage and banking jobs in San Antonio
Wachovia – cut 200 positions in corporate and investment banking unit
Wachovia – reportedly closed four offices in Germany due to crisis
Wachovia – stopped offering mortgages at many branches, 600 layoffs
Wachovia – shut mortgage center in Tampa, 57 layoffs
Wakulla Bank – shut by FDIC
Walter Investment Management Corp. – acquired reverse mortgage lender Security One Lending
Walter Mortgage Co. – to wind down mortgage lending
Warehouse USA – closed
Warren Bank – shut down by FDIC
Washington First International Bank – shut by FDIC
Washington Mutual – shut down
WaMu – stopped wholesale lending, 3,000 layoffs
Washington Mutual – layoffs, halting subprime lending
Washington Mutual – laying off 50 in Capital Markets
Washington Mutual – to cut 1,200 jobs
Washington Mutual – cuts Commercial Correspondent/Wholesale Lending
Washington Mutual – layoffs, exited warehouse/correspondent market
Washington Mutual – layoffs as high as 1,000, closing 3 fulfillment centers
Washington Savings Bank – stopped wholesale lending
Washtenaw Mortgage Company – closed
Waterfield Bank – shut by FDIC
Waterford Village Bank – shut by FDIC
Waukegan Savings Bank – shut by FDIC
WCI Communities – cut 575 jobs
Wealthbridge Mortgage – shut down, layoffs
Webster Bank – to cease wholesale and correspondent lending
Webster Financial – to cut 240 jobs
Weichert Financial – laid off 70+ operations staff
Wells Fargo – cut another 1,800+ mortgage jobs nationwide
Wells Fargo – cut another 925 mortgage jobs
Wells Fargo – cut 763 more mortgage jobs, including 126 in St. Louis
Wells Fargo – cut 350 mortgage jobs nationwide thanks to higher interest rates
Wells Fargo – cut 2,323 mortgage jobs nationwide, including 365 in Birmingham, 330 in Orange County, CA, 292 in Phoenix, and 284 in Charlotte
Wells Fargo – closed retail mortgage fulfillment center in Dayton, OH, cut 63 jobs
Wells Fargo – halted wholesale mortgage lending
Wells Fargo – cut 113 home retention workers in Bellevue, WA
Wells Fargo stops reverse mortgage lending
Wells Fargo – closed Grand Junction, CO mortgage center, 55 layoffs
Wells Fargo – cuts 4,500 mortgage jobs
Wells Fargo – halts wholesale reverse mortgage lending
Wells Fargo – cutting jobs as HARP demand falls
Wells Fargo – cutting 145 wholesale mortgage jobs in Orange County
Wells Fargo – to buy Wachovia
Wells Fargo Financial – to close 638 stores, halt origination of non-prime portfolio mortgages
Wells Fargo Home Mortgage – halts wholesale non-conforming lending
Wells Fargo Alternative Lending Wholesale – closed, layoffs nationwide
Wells Fargo Home And Consumer Finance Group – layoffs
Wells Fargo – stops mortgage lending in Canada
Wells Fargo – layoffs in home equity division
Wells Fargo – layoffs in Billings, MT
Wells Fargo – shutting wholesale division in Concord, CA, 137 layoffs
Wells Fargo Home Mortgage – acquired Pride Mortgage
Wells Fargo Home Mortgage – cut jobs in Fort Mill, SC
Wescom Credit Union – exited wholesale lending
WestBridge Bank and Trust Company – shut by FDIC
Westernbank Puerto Rico – shut by FDIC
Western Commercial Bank – shut by FDIC
Western Corporate (WesCorp) Federal Credit Union – placed in conservatorship
Western National Bank – shut by FDIC
Western Springs National Bank and Trust – shut by FDIC
Westside Community Bank – shut by FDIC
Westsound Bank – shut down by FDIC
West Texas Credit Union – shut down
WestWorks Mortgage – closed
Wheatland Bank – shut by FDIC
Williamsburg First National Bank – shut by FDIC
Wilmington Finance – stopped wholesale lending, hundreds of layoffs
Windsor Capital Mortgage Corp. – closed down
Wipro – purchased Opus Capital Markets Consultants
Winstar Mortgage – ceased operations
Wintrust Financial – bought certain assets and liabilities from Surety Financial Services
Wintrust Mortgage Corp. shut wholesale mortgage division
WMC – GE’s subprime unit cut 460 jobs, reported closed and for sale
WMC Mortgage layoffs
WNS (India outsourcing) – redeploying employees due to mortgage shakeup
Woodlands Bank – shut by FDIC
World Savings – sold to Wachovia
WSB Financial Group Inc. – cutting 33 mortgage jobs
XBancorp – closed wholesale
Xceed Mortgage Corp. (Canada) – stopped originating loans via brokers
Xceed Mortgage Corp. (Canada) – cut two-thirds of staff (74 jobs)
Xceed Mortgage Corp. (Canada) – cut 26 jobs, about 18 percent of staff

Comments are closed.