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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 April 4, 2017 9:26 AM Central



Annual Activity

Flagstar Expands Retail Mortgage Biz W/Acquisition
An upcoming acquisition by Flagstar Bancorp Inc. will expand its retail lending business on the West Coast and boost its originations by nearly 10 percent.

Banc of California Completes Sale of Mortgage Unit
The planned sale of the residential lending unit owned by Banc of California Inc. has been signed, sealed and delivered.

US Earned $22 Billion from Bank Bailouts
The federal fund that was created to bail out the nation's banks during the financial crisis has earned nearly $22 billion for U.S. taxpayers.

Mortgage Expansion Planned for Bank Merger
A bank merger that was completed last summer was expected to enable the planned expansion of three business, including the residential lending business.

Mortgage Business Acquisitions Negotiated, Done
Recently announced mortgage-related mergers and acquisitions include a deal with alleged conflicts of interest. A new report highlights factors that will maximize value for sellers.

Few Mass Mortgage Layoffs
Despite a projected drop in home-lending activity this year, there have been few mass layoffs so far in the industry. Two bank mergers will result in job cuts.

Over 100 Layoffs at Banc of California
As the sale of Banc of California Inc.'s mortgage business approaches, the financial institution has disclosed plans to layoff more than a hundred employees.

Small Utah Bank Fails
A small bank in Utah has been shut down by regulators. The latest depository failure puts the nation on track to exceed the total for all of last year.

Buyer Found for PHH's Jacksonville PLS Unit
A buyer has emerged for PHH Mortgage Corp.'s private-label services operation that is located in Jacksonville, Florida.

PHH Mortgage Fundings Fall, Losses Balloon
Quarterly losses at the parent of PHH Mortgage soared past $200 million as home-lending volume fell. The company is transitioning into a smaller business.

Year Closed Acquired
2017 5 6
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.


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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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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