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Mortgage Graveyard

Failed, Closed and Acquired Mortgage-Related Entities

read about Mortgage Graveyard at FHFA | Wall Street Journal

Q1 mortgage casualties at 13

Latest Mortgage Graveyard Headlines

Last Updated June 21, 2017 9:37 AM Central



Annual Activity

Marketplace Home Lender Closing Down
A four-year-old marketplace home lender that was created to transform the manual mortgage process is closing down. Among the factors cited for the demise was regulation.

Stearns Lending Makes Acquisition
Just months after unloading its own correspondent lending platform, Stearns Lending LLC has made an acquisition that includes a correspondent business.

AMC Acquisitions, Partnerships and Expansions
In the valuation industry, an appraisal management company has been acquired, while several AMCs have partnered to create a bigger firm. Other AMCs have enhanced their offerings.

Stonegate Acquisition a Done Deal
After less than four years as an independent, publicly traded company, Stonegate Mortgage Corp. has, itself, been acquired.

123-Year-Old Bank Fails
A 123-year old financial institution that was able to weather the Great Depression was unable to survive the Great Recession.

Wells Fargo Ending Renovation Mortgages
Wells Fargo & Co.'s home lending unit will no longer offer renovation mortgage products due to the complexity and risk of the loans.

Staffing, Servicing Grow at Lake Michigan CU
Despite a drop in quarterly home-lending volume at Lake Michigan Credit Union, the size of the mortgage servicing portfolio and payroll expanded.

PHH Mortgage Production Drops, More Decline Ahead
Loan originations moved lower at PHH Mortgage and are likely down even more in the current quarter. The servicing portfolio was further reduced.

Investors Baffled Over OCC's Closure of WI Bank
Investors who were on the verge of pumping $100 million into a Wisconsin bank were baffled last week when a federal regulator shut down the bank.

Failed Wisconsin Bank to Cost FDIC Nearly $150 Mil
A financial institution in Wisconsin was the fifth federally insured bank failure this year -- costing the Deposit Insurance Fund nearly $150 million.

Year Closed Acquired
2017 13 10
2016 31 25
2015 27 30
2014 45 39
2013 63 35
2012 86 29
2011 142 30
2010 212 44
2009 235 61
2008 129 47
2007 168 55
2006 32 24
2005 8 14
2004 10 14
2003 12 11
2002 13 3
2001 7 7
2000 13 2
1999 5 2
1998 0 4

archive of MortgageGraveyard.com stories




 

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

www.lenderhomepage.com
Financial Regulation News | Mortgage Regulations | Financial Regulation Newsletter
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

www.mortgagebranchmanagerjobs.com
Bank news

Credit Union news

The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.


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4th-quarter 2008 corporate bankruptcy lawsuits

3rd quarter 2008 corporate bankruptcy lawsuits

2nd quarter 2008 corporate bankruptcy litigation


Success Stories

February

Expansion Plans at PRMI
A new branch opening at Primary Residential Mortgage Inc. is expected to be followed by more than dozen more. In addition, dozens of hirings are planned.


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