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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 July 15, 2015 9:01 AM Central



Annual Activity

Wingspan Bankrupt
After a spectacular rise to the top during the foreclosure crisis, special servicer Wingspan Portfolio Advisors LLC has landed in bankruptcy.

2 Financial Institutions Shut Down By Regulators
A small Colorado bank was seized by regulators last week and sold to the highest bidder, while a similar demise was met by a Pennsylvania financial institution.

Mortgage Layoffs Linger
Hundreds of positions in residential finance have been, or are slated, to be eliminated. Mergers are behind job cuts at two firms.

Former Fannie CEO's Firm Makes Mortgage Acquisition
A mortgage banking firm run by the former chief executive officer of Fannie Mae has announced plans to make a mortgage acquisition.

Big Decision in Repurchase Lawsuit
A federal judge has handed down a decision in a case that could have big implications on other repurchase lawsuits.

Discover Home Loans To Close Down
The home lending unit of Discover Financial Services has failed in its attempt to become the next Quicken Loans Inc. and will shut down.

CFPB Reaches YSP Settlement With 6th Lender
Just days after  disclosing a settlement with a lender over the use of yield spread premiums, the Consumer Financial Protection Bureau is at it again -- bringing to six the number of recent YSP-related settlements.

Appraisal Services Target FHA EAD, AMC Utilization
A new service is designed to help lenders connect to the electronic portal for government loans, while appraisal management companies are vying for business. An appraisal technology firm was acquired.

Bank Failures Slow to a Trickle
This year is turning out to be a very quiet one for bank failures -- which have slowed to a trickle compared to just a few years ago. Even credit union failures, which have traditionally numbered far fewer than banks, are keeping pace.

Settlements Reached With Taylor Bean Note Investors
Settlements have been reached between Bank of America Corp. and note investors of a company that spectacularly collapsed.

Year Closed Acquired
2015 14 10
2014 44 39
2013 62 34
2012 86 28
2011 141 30
2010 212 44
2009 235 61
2008 128 47
2007 168 55
2006 32 24
2005 8 13
2004 10 14
2003 12 10
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.

Mortgage Banking Consultants
Mergers & acquisitions, broker-to-bank transitions & accounting are among the services offered by Mortgage Banking Solutions.
www.mortgagebankingsolutions.com



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



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

Stonegate Expanding Florida Staff
More than a hundred new mortgage jobs are planned for a new office facility being opened in Florida by Stonegate Mortgage Corp.


November

Just 1 Mortgage Firm Ranks Among Best Small Companies
Only one company in the mortgage industry made a prestigious list of the best small publicly traded firms in the nation.


October

Fastest Growing Mortgage Employers
A ranking of the 100-fastest growing U.S. employers included nine mortgage-related businesses. The fastest growing mortgage firm added more than 1,500 new jobs over a one-and-a-half-year period.


September

Some Firms Expanding to Minnesota
As larger firms scale back mortgage staffing to adjust to falling originations, some smaller lenders expanding in Minnesota.


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