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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 Monday, August 18, 2014 12:11 PM Texas Time



Annual Activity

BofA's Countrywide Losses Exceed $50 Billion
Bank of America Corp.'s 2008 acquisition of Countrywide Financial Corp. has cost it $50 billion, and the total continues to grow.

Failed Bank's Founder, Directors Agree to Settle
The founder of a Florida bank that failed four years ago and seven of its former directors have agreed to settle for more than $5 million allegations that they played a role in the bank's demise.

Ellie Mae to Acquire AllRegs
The mortgage industry's curator of lending guidelines is being acquired by the developer of widely used origination software.

FIRREA Saves Chase Again in Lawsuit
For the second time in the past month, JPMorgan Chase & Co. has prevailed in litigation because of provisions in the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

Zillow Acquisition Creating Online Real Estate Giant
An agreement has been reached for Zillow Inc. to acquire Trulia Inc. in a stock deal valued at $3.5 billion -- creating an online real estate powerhouse.

End of the Line for Century Old Bank
This week saw the failure of a bank that was more than a century old. Poor management of the financial institution was blamed for its demise.

Citi Sues Former Owners of Defunct Mortgage Lender
CitiMortgage Inc. is suing the former owners of a defunct mortgage banker alleging that it was defrauded on several loans it acquired from the lender.

Former IndyMac to Be Acquired
The formerly high-flying mortgage lender that operated as IndyMac Bank FSB is being acquired by a company that previously abandoned the mortgage business.

South Sees Two Financial Institution Failures
Two financial institutions, one in Georgia and another in Kentucky, were recently seized and closed down by regulators.

New Business Leaps at Radian
Radian Guaranty Inc. reported a solid month-over-month gain in new business, while there was an equally impressive improvement in delinquency.

Year Closed Acquired
2014 31 23
2013 62 33
2012 85 28
2011 140 30
2010 212 44
2009 235 61
2008 128 47
2007 168 53
2006 32 24
2005 8 13
2004 10 14
2003 12 8
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.



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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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