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Greenpoint Mortgage Closed


Greenpoint Mortgage was shut down today by parent Capital One Financial Corp., who said weak demand for residential home loans forced the company to shut the ailing mortgage lender.

Capital One announced that it would cease loan origination operations at Greenpoint Mortgage immediately, and according to initial reports, cut roughly 1,900 jobs.

Loans that are already in the pipeline and locked will continue to be processed and should ultimately fund as scheduled. It is unclear what will happen to loans far along in the process that haven’t been locked.

The news followed statements made by the VP of investor relations for Capital One last week, which sparked employee fear that the company was gearing up to close Greenpoint Mortgage.

Greenpoint Mortgage headquarters in Novato, California will be closed, along with 31 other branches in 19 states throughout the United States.

Greenpoint Mortgage specialized in Alt-A loans, offering programs for borrowers with low credit scores down to 620, as well as option-arms, second mortgages, jumbo loans, and other high-risk products.

Greenpoint’s Demise Started with Fewer Loan Programs

But earlier this year, Greenpoint narrowed their product offerings significantly, effectively sinking loan volume and forcing the closure of 13 branches and some 440 layoffs.

Amazingly, Capital One picked up the wholesale mortgage lender in their $13.2 billion North Fork Bancorp purchase just last December, with high hopes that Greenpoint would be a solid performer.

Unfortunately, the housing market turned at just the wrong time, quickly turning the lender’s profits into catastrophic losses.

Capital One had no intention of keeping mortgage loans on its balance sheet, and after winding up with more than $600 million in second mortgages on the books earlier this year, the company ultimately made the decision to shut the losing unit.

I received several e-mails from Greenpoint Mortgage employees this week who were concerned about their future at the company.

They mentioned that emergency meetings were held after the comments by their VP of investor relations last week, and that business was very slow, to the point where they felt it wouldn’t go on.

And it seems their worries were well-founded, as yet another lender closes its doors.

Greenpoint was the nation’s seventh largest originator of Alt-A mortgages, so this is pretty big news.

The shutdown will cost Capital One about $860 million, or $2.15 per share, cutting its 2007 earnings forecast to $5 a share from $7.15.

Capital One stock dropped $2.03, or 2.95%, to $66.72 in late trading, and an additional 22 cents in after-hours trading on the news.

Update: According to an internal Greenpoint e-mail, the commercial lending division is still open.

51 thoughts on “Greenpoint Mortgage Closed”

  1. Need to get some information about my green point loan on my mobile home in 2001-2004 Can u help?

  2. Linda,

    I believe Ocwen Loan Servicing, LLC acquired the servicing rights of Greenpoint’s mortgages, so you may want to contact Ocwen.

  3. Mary,

    If you can’t get in touch with Greenpoint you might want to check your county records via your local county website.

  4. I need divorce payoff proof from a loan I took out to pay my x-husband off in 2002. Who do I contact ? I need to show the proof to the court for a lawsuit I’m in.

    His new wife said I was “given” the house, which was not the case. I bought it. He is now deceased.

    I qualify to get some of his fire pension if I can produce the document. URGENT

  5. Karen Bittke-Greenberg

    I need a signed in ink lien release letter from GreenPoint Credit as soon as possible. I never received a certificate of title when I paid off my mobile home in 2003. Please help!

  6. I need a discharge of mortgage from 2007. How can i get this? I need Help ASAP Please . Building is about to sell need copy. Thanks

  7. $328,469.00 was the equity the check we were supposed to receive from Greenpoint Mortgage in June 2007 which we have never received. we are making payment to Capital One, we want to know what happened to the check.
    please contact us before we hire attorney of the fraud, or inform FBI.

  8. I was an employee and was let go because they were downsizing later to find out they closed out and I need to see where my 401k went to because it did not come to me and it was with Fidelity. any info would be helpful.

  9. Diana,

    Fidelity might be of better help than Greenpoint, seeing that the former is still in business.

  10. I’m looking for a payoff letter for a Greenpoint mortgage originated in 2003 and paid off in 2011. The property address is 38734 Lanse Creuse, Harrison Twp., MI 48045. Can you help? Thank you for your support.

    Rick Losh

  11. Woodland Trails Homes

    I am looking for the company that took over the greentree loans. I have an abandon home that was once their loan.
    If you can help I would really appreciate it.


  12. Greentree was purchased by ditech, which is a Walter Investment Management Corp. company. Hope that helps.

  13. My ex and I purchased a mobile home in 10/1998 and our original contract was with Greenpoint. We have since divorced and he kept the home. Judge ordered him to refinance and remove me from loan and he didn’t and is now in contempt of court. My question is that I do NOT have a signed contract with Ditech and ex is in default of the loan; my contract was with Greenpoint. Any suggestions as to what I can do? Court says I’m not responsible but Ditech says I am.

  14. Theresa,

    It sounds like the loan might still be on your credit report, and could now be hurting your credit scores because of his default? If court is saying you aren’t responsible, and you have something from the court in writing, perhaps that could help you, but Ditech may still be pursuing ALL borrowers on the loan until your ex actually removes you from it. Not a lawyer, but I could see why Ditech would hold all borrowers accountable until a borrower is actually removed from the loan, even if it’s not fair. For example, what if they remove your responsibility then the court changes its mind? It sounds like the issue is with your ex.

  15. I need a release of mortgage for a $35,000.00 second mortgage that was on a house I refinanced through Green Point Mortgage in 2006. The title agency says that it was never released making it senior to the Green Point Mortgages and must be paid before I can sell the house. Where can I go to find the information?

  16. Thank you for all of your research, you saved us a lot of time trying to track down liens from Greenpoint Mortgages!

  17. I had a loan that originated with B of A housing that was sold to Greenpoint credit. I am not trying to sell the mobile home and the lien holder was never released nor did I ever receive the release of title. Whom can I contact now that they are no longer in business?

  18. In 2001 I took out a mortgage through Wells Fargo which my mortgage ended up with Greenpoint Mortgage Funding..I got a mortgage plus a line of credit loan.. went to remortgage and the the line of credit loan did not receive a release but both loans were paid off…only one release and no release for the line of credit…who do I contact have exhausted myself searching for help, cannot sell condo without this……..its considered a lien against me but it is paid…no release………..please help

  19. I’m trying to buy a house and it has a lien on it from Greenpoint and can’t get a title untill they release the lien from the property any help you can give me would be appreciated. Property is in florida and I want to own this house and pay cash but not with the lien. Thanks Mark.

  20. I really hope you can help….I had a loan with Greenpoint back in 2006. My home was foreclosed on and the lender sent a 1099c to the irs stating I made 212,000 from the sale of this home….I tried contacting them numerous times in 06’ 07’ 08 to have a corrected 1099c sent to me and the irs but never responded…I am trying to straighten out my debt to the state and irs but need information from this lender….would appreciate any help…thanks in advance.

  21. Hey Keyna,

    As I’ve told others, I believe Ocwen Loan Servicing took over Greenpoint’s portfolio of home loans so they might have the information you need. The company was also a subsidiary of Capital One at one time. Good luck.

  22. I had a 20% second mortgage from Greenpoint.
    LOAN- DATE 5/4/2006. I’ m
    in the processes of selling the house.
    Ocwan Mortgage handled the main 80% amount and they are stating the did not handled 20%. I have a title agent trying to secure the 20% but they are having problems getting the information.

    Any help will be appreciate. I need a lien release.
    Thanks, Herman

  23. I have a Greenpoint lien on a mobile home to clear from 2000-2001. Ditech only took over in 2004 and cannot clear the lien. Owner deceased, no record of payoff available. I wrote to Capitol One, but no response. Now where??

  24. I have two loans from 2007 that were never released by Greenpoint. How do I get a hold of somebody to get me the copies showing those loans were paid?

  25. Annie,

    Maybe try Capital One or Ocwen Loan Servicing, the latter of which may now be known as PHH Mortgage.

  26. You may also want to try Select Portfolio Serivices, 800/258-8602 or Rushmore Loan Management, 888/504-6200. These were provided to me by Capital One

  27. I need lien release. Does anyone know how I can reach someone? Greenpoint had the mortgage until December 2005. Now the person we sold to is trying to sell and we can’t get the release that needed to be done in 2005.Who do I contact and how?

  28. I need to get a lien release from a purchase back in 2004. Loan was through Greenpoint. Thank you!

  29. Tonna,

    Greenpoint’s mortgage servicing rights were transferred to Ocwen Loan Servicing, LLC, in 2013, so perhaps getting in touch with them could clear things up.

  30. I have a mobile home financed thru Greenpoint. It was paid off in 2003. How do I get a lien release on it. It is located at 573 Ft. Lindley Rd in Laurens South Carolina. Any help would be appreciated.

  31. I also have a mobile home financed thru Greenpoint. It was paid off in 2000 but apparently the paper work was never filed and now there is a lien on it. Can’t seem to find any help with this because when Greenpoint mortgages where transferred ours was not because of it being paid off. I see a lot of others on here with the same problem….has anyone been able to resolve this problem?

  32. I need to find out who Greenpoint Mortgage used for title insurance in 2002.
    In Charlotte NC if that matters?
    Closing attorney information doesn’t go back that far and I have lost the paperwork in a move.
    There is a HELOC from the previous owner that was never satisfied.
    I am currently selling property

  33. Hi Karen,
    Did you ever get a response about your mobile home title? If you did could you please let me know how?
    Sincerely Sarah W.

  34. Carrie Richardson

    Approaches a mobile home through the link with taxes and when I got down to the highway department to get the title I found out that it had a lien on the title trying to get in contact with anybody that know anything about Greenpoint credit out of it to get in contact with anybody

  35. I have been trying for two years to get a proper lien release. I have been through CapOne, Ditech, NewRez (and all affiliated companies). Ditech DID give me a lien release right before they shut down their phones and emails but it had the wrong manufacturer and year of the mobile home on it so it is useless at the DMV. I am trying to get a title so I can get this house demolished and out of my name. I am disabled and until this house is gone, I cannot get a new one or I risk losing my medical and other benefits (one of my meds alone is over $6500/mo. so not an option). The home is full of mold, half of it has no electricity, I’ve had no a/c, central heat or hot water for over 3 years. I desperately need to find out how to get a corrected lien release so I can get a title and get out of this place before it kills me.

    Help please?

  36. I have a client with at GreenPoint Mortgage loan from 2003 and need a lien release/recon who can I contact??

  37. I’ve noticed that a lot of people have tried to get lien releases from Greenpoint and other lenders but have been unable to do so. I issue Lost Instrument Bonds in the state of California to remove old deeds of trust from the chain of title. Email me with any questions or feel free to call my office at 661-679-7953 ext. 5. I do these all the time with lenders that are defunct. You can email me at

    Myers Insurance Agency is the largest producer of lost instrument bonds in the State of California and we issue more lost instrument bonds and all other insurance companies in the state COMBINED!

  38. I had a lien mortgage with Greenpoint back in 2001. And never received my title when discharge, who do I contact about my title asap?

  39. Hi,

    My husband Chester Holliday has a loan that was with Bank of America in 1998, he had received a letter stating that Greenpoint was acquiring the loan on September 30, 1998. He is in the process in selling the property. He needs a release that states it is paid off. Thank you for your help.

  40. hi i am trying to get a pay off satisfaction letter for a loan from greenpoint 10/26/99
    i am selling this property but cannot close because of this

    please i need help

  41. Edyanelisse Gonzalez

    I’m interested in a multifamily but was bought by Greenpoint which they no longer exist located in Bridgeport Connecticut. How can I get more information towards the multifamily home? We spoke to to the owner who last owned the home but she has no clue on who now took over the home after Greenpoint.

  42. I had a 2003 loan with Greenpoint I have the letter saying it’s paid off I also have a letter stating the were sending the release of lien however I never received that lien release now I am selling that house and this is a huge issue any suggestions on how to resolve this in a timely manner?

  43. I need a lien release on a mobile home that has been paid off since for several years. This was financed through GreenPoint. Who can I contact for assistance?

  44. Like everyone else here I an trying to get a lien release from greenpoint that was paid off in 1999 . Been through several others like ditech and phh and capital one with no results . Anyone have any better luck ?

  45. Found out that Capital One purchased Green Point. Green Point was holding a 2007 second mortgage (HELOC) for a client. Apparently Capital One is still Investor (owner of loan) but Servicer is now Rushmore Loan Management Services . They sent me quick payoff and letters showing Capital One had transferred, sold or assigned the mortgage servicing rights to Rushmore back in 2018.
    Here are numbers from letters:
    Rushmore (888.699.5600 or 949.341.0777)
    Capital One (877 535-1212)
    If you need assistance, please don’t hesitate to contact me.

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