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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