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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 August 14, 2017 5:34 PM Central



Annual Activity

Mortgage LOS Updates, Acquisition
In addition to an acquisition involving a loan origination system, two LOS service provides have upgraded there systems -- with one labeled as a "major" release. Meanwhile, LOS integrations continue.

US Still Grappling With Too Big to Fail
Nearly a decade after the financial crisis, Democrats and Republicans are still battling over how to liquidate behemoth financial institutions that fail.

Mortgage Firms Acquired and Not Acquired
While some mortgage acquisitions have recently closed, one fell through just hours before it was supposed to be consummated. One company that was set to close down is back in business.

Michigan Credit Union to Acquire Florida Bank
A deal has been reached for Grand Rapids, Michigan-based Lake Michigan Credit Union to acquire Naples, Florida-based Encore Bank.

PHH Continues to Reduce Mortgage Business
As the parent of PHH Mortgage continues to execute on its strategy to shrink its mortgage business, losses grew from a year earlier as originations and servicing were slashed.

Ocwen Exits Correspondent Channel, Lending Sinks
An exit from the correspondent lending channel had quarterly mortgage originations plunging at Ocwen Financial Corp. The slowdown was accompanied by continued losses.

Mortgage Results Drive HomeStreet Layoffs
With home-lending business coming in more slowly than expected, HomeStreet Inc. has begun reducing its mortgage workforce. Further downsizing could be ahead.

Flagstar's Home Lending Soars, Could Jump Again
A quarterly leap in mortgage originations at Flagstar Bancorp Inc. is set to repeat in the current quarter. But the primary mortgage servicing portfolio was reduced.

Home Lending, Servicing Rises at Lake Mich CU
A healthy increase in mortgage originations was reported by Lake Michigan Credit Union. Also expanding was the organization's servicing portfolio.

HSBC Cutting Nearly 200 Florida Jobs
The wind down of HSBC Holdings Plc.'s U.S. finance unit has nearly 200 Florida employees losing their jobs during the next few months.

Year Closed Acquired
2017 14 12
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.

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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

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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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