Complete List of Failed Banks, Mergers, Acquisitions and ...



Complete List of Failed Banks, Mergers, Acquisitions and Mortgage Bankers-Originators and Reduction in Force Notices

 

Latest updates as of 2010.03.10

Centennial Bank shut by FDIC

Waterfield Bank shut by FDIC

Bank of Illinois shut by FDIC

Sun American Bank shut by FDIC

Rainier Pacific Bank shut by FDIC

Carson River Community Bank shut by FDIC

La Jolla Bank shut by FDIC

George Washington Savings Bank shut by FDIC

The La Coste National Bank shut by FDIC

Marco Community Bank shut by FDIC

1st American State Bank of Minnesota shut by FDIC

ResCap layoffs

Complete list:

1st Choice Mortgage – to close, layoffs

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

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 – closed subprime wholesale lender

ACT Mortgage Capital – suspended all submissions/fundings until further notice

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

Alpha Bank & Trust – shut down 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

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.

AmeriBanc Corp. – ceased operations

Ameribank Inc. – shut down by FDIC

America One Finance – winding down

America West Bank – shut by FDIC

AmericasBank – shut mortgage unit

American Brokers Conduit – shut down all operations

American Business Financial Services – closed

American Equity Mortgage – closing 6 of 30 offices, laying off 40 employees

American Freedom Mortgage – filed bankruptcy

American Home Mortgage – closed

American Lending Group – merged with Premier Mortgage Group

American Marine 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 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

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 opertions

Apex Lending, Inc. – shut down

APS Mortgages Limited (UK) – independent brokerage shutting downn

Argent – sold to Citigroup

Assured Lending Corp – to exit wholesale lending

Aurora – stopped wholesale and correspondent lending

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

Banco Santander – to buy UK lender Alliance & Leicester PLC

BankAtlantic – laid off 115 employees

BankFirst – shut by FDIC

Bank of America – to cut up to 35,000 jobs

Bank of America – to buy Countrywide

Bank of America – Countrywide merger possibility, continued layoffs

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 Granite and Granite Mortgage Inc. – to combine, layoffs

BankUnited – ceased wholesale lending, layoffs

Bank of Clark County – shut down by FDIC

Bank of Elmwood – shut down

Bank of Leeton –shut by FDIC

Bank of Lincolnwood – shut by FDIC

Bank of Wyoming – shut by FDIC

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

Barnes Banking Company – shut by FDIC

Basis Yield – Australian hedge fund files for bankruptcy due to subprime woes

Bath Building Society (UK) – halt mortgage lending

Bay Capital Corp. – closed

BayRock Mortgage Corp. – ceased wholesale lending

Bayview Financial – cut 60 jobs

BB&T – bought Collateral Real Estate Capital

BB&T – to shut subprime wholesale lending unit

BC Bancorp – shut down

Bear Stearns – layoffs

Beacon Financial Mortgage Bankers Corp. – filed bankruptcy

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

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

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

Brickwell Community Bank – shut down by FDIC

Broad Street Mortgage – sold to Wausau Mortgage Corp.

BrokerSource – ceased operations

BrooksAmerica Mortgage Corp. – temporarily suspended new loan originations

BSM Financial – closed wholesale unit BrokerSource

Budget Finance Co. – layoffs

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

Calusa Investments – website down, thought to be closed

Cameron Financial Group – bankrupt

Cape Fear Bank –shut down by FDIC

CapitalSouth Bank – shut down by FDIC

Capital One – to buy 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

Carteret Mortgage Corp. – to be closed down, hundreds of layoffs loom

Castle Point Mortgage – will no longer accept wholesale broker applications

CBA Commercial – said to have had sizable layoffs

CBRE Realty Finance – halted lending

Centennial Mortgage and Funding Inc. / Award Mortgage – shut down

Centex Home Equity – changed its name to Nationstar Mortgage

Central Federal Credit Union – placed in conservatorship

Central Pacific Mortgage – closed, TMSF cancels deal to acquire company

Central States Mortgage Co. – suspends operations

Century Bank FSB – to halt wholesale lending

Century Bank FSB – shut down by FDIC

CFIC Home Mortgage – closing down

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 One – exits wholesale lending

Chase – to buy Bear Stearns

Chase – closing subprime loan facility in Ontario, CA 91 layoffs

Chase – Washington Mutual merger

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

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

CHL Mortgages (UK) – to cut 20% of staff

Choice Capital Funding – rumored to be closed

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

Citigroup – to cut 50,000+ jobs

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

Citi – to buy Wachovia

Citi – to cut 9,000 jobs

Citi – cut about 30 jobs in structured-credit group tied to mortgage losses

Citi – to close Future Mortgages (UK) and CitiFinancial (UK subprime), layoffs

Citi – cut 125 jobs in Texas

Citi – to cut up to 6,500 investment banking jobs

Citi 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 – 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 Community 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

Clear Choice Financial – in default, Bankruptcy possible

CMXL – acquired All Fund

Coast Bank – sold to First Banks of St. Louis

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 West Georgia – shut by FDIC

Community First Bank – shut by FDIC

Community National Bank of Sarasota County – shut by FDIC

Community Resource Mortgage – closed its wholesale lending division, layoffs

Community One Federal Credit Union – shut down

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

CoreStar Financial Group – closed

Corn Belt Bank and Trust Co. – shut down by FDIC

Corus Bank – shut down 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

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

CTX Mortgage – reportedly for sale

CU National Mortgage – halts lending

Dana Capital – closed

DB Home Lending – consolidated with MortgageIT, layoffs, rumored to be closed

DeepGreen Financial – closed

Decision One – shut down, layoffs

Delta Financial – closed offices, 300 layoffs

Delta Financial – bankruptcy, suspends loan origination

Delta Financial Corp. – layoffs

Deutsche Bank Correspondent Lending Group – consolidating business to MortgageIT

Diablo Funding Group – shut down

Direct Finance Corp. – acquired First Call Mortgage Co.

Ditech – 181 layoffs

– cut 120 jobs at Costa Mesa, CA headquarters

Dollar Mortgage Corp. – being acquired by Shearson Financial Network

Domestic Bank – shutting down wholesale unit

Draper and Kramer Mortgage – merged with 1st Advantage Mortgage LLC

Downeast Mortgage Corp. – to shut down

Downey Savings – shut down by the FDIC

Downey Savings – shut wholesale channel

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

Eastern Financial Florida Credit Union – put in conservatorship

Edgewater Lending Group – halts wholesale lending

Egg Mortgages (Citi-owned UK finance unit) – no longer accepting applications

Elizabeth State Bank – shut by FDIC

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

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 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

Evergreen 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

FBR Capital Markets – cut 75 jobs

FBR – selling subprime unit

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 Bancorp – 700 layoffs

Fifth Third – to discontinue Alt-A lending

Finance America – closed

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

FirstBank – to shut down wholesale mortgage division Oct. 31

FirstBank Financial Services – shut down by FDIC

FirstCity – Bank shut down by FDIC

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 Kansas City – shut down by FDIC

First Banks of St. Louis – bought Coast Bank

First Centennial Bank – shut down by FDIC

First Collateral Services (Citi) – 126 layoffs

First Collateral Services (Citi) – cut 150 jobs

First Community Bancorp – layoffs

First Consolidated Mortgage Co. – subprime wholesaler shutting down, in dispute

First Coweta Bank – shut down by FDIC

First DuPage Bank – shut down

First Federal Bank of California – halted wholesale lending

First Federal Bank of California – 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 Community Bank – shut down by FDIC

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 Madison Mortgage – shut down

First Magnus – no longer funding or originating any mortgage loans

First National Bank of Arizona – halts retail mortgage lending, 35 layoffs

First National Bank of Danville – shut by FDIC

First National Bank of Georgia – shut by FDIC

First National Bank of the South – halts wholesale lending

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 of Anthony – shut by FDIC

First National Bank of Arizona – shut down 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 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

Fitch Ratings – to cut 150 jobs

Flagship National Bank – shut down

Flagstar Bancorp – mortgage layoffs, restructuring

Flagstar Bancorp – layoffs

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

Fortes Financial – halted lending

Fortes Financial – acquired five former National City regional wholesale offices

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

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

Frost Mortgage – partnered with First Houston

Founders Bank – shut by FDIC

Foxtons, Inc. – filed Chapter 11 bankruptcy

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

Genworth Financial – cutting roughly 1,000 jobs

Genworth Financial – acquired Liberty Reverse Mortgage

Georgian Bank – shut down 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

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

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 – 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

H&R Block Mortgage Corp. – 353 layoffs

H&R Block – to cut 505 jobs related to closure of Option One

Harbourton Mortgage Investment Corporation (HMIC) – closed

Haven Trust Bank – shut down by FDIC

HBOS – shut Mortgage Business (UK), 325 possible layoffs

Heartland Mortgage Co. – bought Merrlin Mortgage Corp.

Heartland Wholesale Funding – ceased wholesale lending

Heartwell Mortgage – closed

Heritage Bank – shut down by FDIC

Heritage Community Bank – shut down by FDIC

Heritage Plaza Mortgage – closed

HFF Inc. – cut 57 jobs

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

Homestead Mortgage – will close its wholesale division

Homeview Lending Inc. – layoffs, now appears to be closed

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 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

Huntington Financial – to be acquired by Oxford Funding

Hypo Real Estate (Germany) – nationalized

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 – stops Alt-A lending, 144 laid off

Impac Mortgage Holdings – 350 recent layoffs, halted Alt-A loan production

Imperial Capital Bank – shut by FDIC

InBank (IL) – shut down by FDIC

Independent Bankers’ Bank – shut 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 – to cut 7,000 jobs

ING – to buy Interhyp AG (largest German residential mortgage broker)

ING Netherlands – cut 10 percent of jobs at mortgage unit

Innovative Mortgage Capital – closed

Integrity Bank – shut by FDIC

Integrity Bank of Alpharetta, Georgia – shut down by FDIC

InterBay Funding – laid off 75 workers

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

Ivanhoe Mortgage – closed

Jennings State bank – shut down by FDIC

John Warner Bank – shut by FDIC

JP Morgan – layoffs reported in loan structuring group, CMBS group , and UW group

KBC Bank NV (Belgium) – buying 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

Keys Federal Credit Union – shut down

Kirkwood Financial Corp. – suspended wholesale originations

KKR Financial Holdings –no longer intends to invest in residential real estate

Lancaster Mortgage Bankers – closed

LandAmerica Financial Group Inc. – will cut 1,100 jobs (title company)

Landesbank Sachsen Girozentrale (Germany) – sold to Landesbank Baden-Württemberg

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

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

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

Liberty Home Lending – 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

Lloyds TSB – to buy Halifax Bank of Scotland for $22 billion

Loancity – closed 7 branches, shut down

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

– 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

M&T Bank – cut wholesale mortgage jobs

MacQuarie Mortgages USA – halts loan origination

MacQuarie Mortgages USA – laid off 69 employees

Madisonville State Bank – shut down

MagnetBank – shut down by FDIC

Main Street Bank – shut down by FDIC

Mainstreet Bank (MN) – shut by FDIC

Mandalay Mortgage – closed

Maribella Mortgage – closed

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

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 – to acquire EverBank Reverse Mortgage LLC

MetLife – to buy First Horizon mortgage unit

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 (pending)

Miami Valley Bank – shut down by the FDIC

Millennium State Bank of Texas – shut by FDIC

Mirae Bank –shut by FDIC

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

Millenium Bankshares – closed mortgage division

Millenium Funding Group – closed

Millennium Mortgage Corp. – halted wholesale lending

MLSG – halted lending operation

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

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

Mutual Bank – shut by FDIC

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 – acquired Champion Mortgage, closed multiple offices, incl. Denver office Sept. 10

Nationstar – halts wholesale lending

Neighborhood Community Bank – shut by FDIC

NetBank – shut down by FDIC due to excessive mortgage defaults

Netbank Funding – closed

New England Merchants Corp. – receives cease and desist order

New Century – filed bankruptcy

New Equity Mortgage – merged with Advent Mortgage

New Frontier Bank – shut by FDIC

New Horizons Reverse Mortgage Inc. – filed for Chapter 7 bankruptcy

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

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, now offering hard money and bridge loans

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 Houston Bank – shut down

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 – to buy Kent County State Bank

OMG Wholesale – suspended operations

Omni National Bank – shut down by FDIC

Opteum – closed conduit and wholesale operations

Optima Funding – reported to have ceased operations

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 National Bank – shut down

Paragon Home Lending – said to be shut down

Paragon Mortgages (UK) – laid off 62 Mortgage Trust staff

Park National Bank – shut down

Partners Bank – 100th bank failure of 2009

Partners Group Unlimited – bought out by Mortgage Network Inc.

Paul Financial – suspends loan origination

Paul Financial LLC – cut 57 jobs

People’s Choice Financial Corp. – bankrupt

Peoples Community Bank – shut by FDIC

Peoples First Community Bank – shut by FDIC

People’s Mortgage – closed

PFF Bank and Trust – shut down by the FDIC

PHH – merger terminated

PHH Mortgage – laid off 140 in Providence, 300 more from NJ and FL offices

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

Platinum Community Bank (IL) – shut down by FDIC

PNC – to close Capstone Realty Advisors (commercial mortgage unit)

PNC Bank – discontinued wholesale home equity lending

PNC Bank – to cut 5,800 jobs

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

Westsound Bank shut down by FDIC

Preferred Home Mortgage Co. – cut 75 jobs

Premier American Bank – shut by FDIC

Premier Mortgage Funding, Inc – filed for bankruptcy

Premium Funding Corp. – closed

Principal Mortgage Fund, Inc. – to buy Fair Home Lending Financial, Inc.

Priority Funding Mortgage Bankers – believed to have ceased operations

Prosperan Bank – shut by FDIC

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

Pulte Homes – 2,000 layoffs

Pulte Mortgage – layoffs

Pulte Mortgage – shutting Charlotte processing center, nearly 90 layoffs

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

Inc. – closed

QHL Holdings Fund Ten LLC – filed for bankruptcy

RAMS Home Loans (Australia) – warned of profit losses after only two weeks on stock market

Realty Mortgage – shut down, 300+ layoffs

Regions Financial Corp. – closed warehouse lending unit

Regions Financial Corp. – shut Little Rock mortgage servicing facility

Republic Federal Bank – shut by FDIC

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)

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 Mortgage Capital – suspends operations

Resource Bank – selling mortgage-related assets to Monarch Bank

Resource Mortgage – shuttered wholesale division

Reunion Mortgage – shut wholesale office in Florida

RFC – layoffs

Right Away Mortgage – closed

Riverside Bank of the Gulf Coast –shut down 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

Royal Bank of Scotland – to cut 9,000 jobs

San Diego National Bank – shut down

San Joaquin Bank – shut down

Sanderson State Bank – shut down by FDIC

Santa Cruz Mortgage – suspended operations indefinitely

Saxon Mortgage – wholesale closed, 1000 layoffs

Saxon – layoffs, closed correspondent unit

Saxon Mortgage Services – cut 50 jobs in Texas

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

Secured Bankers Mortgage Company – halted operations

Secured Funding – closed

Security Bank Corp. – has six Georgia banks shut down 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

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

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

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

Southstar Funding – closed

Southwest Bank – acquired BMC Mortgage Services Inc.

Sovereign Bancorp – to cut 1,000 jobs

Spectrum Financial Group – files bankruptcy

St. Stephen State Bank – shut by FDIC

Starpointe Mortgage – closed

Steward Financial – closed

Stone Creek Funding – closed

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

Suburban Federal Savings Bank – shut down by FDIC

Summit Financial Group Inc. – closed residential mortgage unit

Summit Mortgage Co. – to close

Sunset Direct Lending – closed

Sunshine Mortgage Corp. – shut down

SunTrust – cut 170 jobs

SunTrust Bank – cut 86 jobs

SunTrust Bank – closing wholesale lending offices

TBW – to file for bankruptcy protection, around 1000 layoffs

TeamBank – shut down by FDIC

Temecula Valley Bank – shut by FDIC

The Buckhead Community Bank – shut by FDIC

The Community Bank – shut down by the 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 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

TierOne – closed all nine loan production offices

Town Community Bank & Trust – 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

Trump Mortgage – closed

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 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

Universal American Mortgage Co. – shut down its processing center, 57 layoffs

Unlimited Loan Resources – closed

Upland Mortgage – filed Chapter 11 bankruptcy

U.S. Mortgage Corp. – stops retail lending

USA Federal Credit Union – layoffs

Valley Capital 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

Vertex – to cut 55 jobs related to DB Mortgages account (Deutsche Bank UK)

Vertical Lend – changes name to World Alliance Financial

Vertice – shutting 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

Virtual Bank Mortgage – now Lydian Mortgage

Vision Development Group of Broward County LLC (condo developer) – Ch. 11 bankruptcy

W.J. Bradley Mortgage Capital Corp. – merges with State Mortgage

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

Walter Mortgage Co. – to wind down mortgage lending

Warehouse USA – closed

Warren Bank – shut down 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

Waterford Village Bank – shut by FDIC

WCI Communities – cut 575 jobs

Webster Bank – to cease wholesale and correspondent lending

Webster Financial – to cut 240 jobs

Weichert Financial – laid off 70+ operations staff

Wells Fargo – to buy Wachovia

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 Home Mortgage – acquired Pride Mortgage

Wells Fargo Home Mortgage – cut jobs in Fort Mill, SC

Wescom Credit Union – exited wholesale lending

Western Corporate (WesCorp) Federal Credit Union – placed in conservatorship

West Texas Credit Union – shut down

WestWorks Mortgage – closed

Wilmington Finance – stopped wholesale lending, hundreds of layoffs

Windsor Capital Mortgage Corp. – closed down

Winstar Mortgage – ceased operations

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

World Savings – sold to Wachovia

WSB Financial Group Inc. – cutting 33 mortgage jobs

XBancorp – closed wholesale

Xceed Mortgage Corp. (CA) – cut two-thirds of staff (74 jobs)

Xceed Mortgage Corp. (CA) – issued profit warning, halted dividend

Xceed Mortgage Corp. (CA) – cut 26 jobs, about 18 percent of staff

 

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