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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 September 26, 2016 5:24 PM Central



Annual Activity

114-Year-Old Bank Fails
An Arkansas bank has failed. Meanwhile, the failure of a much larger bank seven years ago proved to be very profitable for the acquirer.

Nationstar Unit Closing
A company created three years ago as a joint venture between Nationstar Mortgage LLC and a home builder is in the process of winding down.

PNC Agrees to Settle 2nd Mortgage Class Action
The PNC Financial Services Group Inc. has agreed to settle a class-action lawsuit alleging excessive fees and illegal kickbacks on second mortgages.

Appraisal Integrations and Acquisitions
Appraisal service providers have been enhancing their offerings through integrations, though at least two have turned to acquisitions to improve options for their lender clients.

Massive Taylor Bean Lawsuit Settled
A $5.5 billion lawsuit filed by the trustee for bankrupt Taylor Bean and Whitaker Mortgage Corp. against an auditor has been settled.

Florida Mortgage Banker Dies
A Florida mortgage banking executive who previously sold his mortgage company to Warren Buffett's Berkshire Hathaway Inc. has died of heart failure.

4th Bank Failure of 2016
For the fourth time this year, a federally insured bank has failed. This time it was a financial institution out of the South.

FDIC Settlement Nets Chase Over $600 Million
A settlement reached between JPMorgan Chase & Co.'s banking unit and the Federal Deposit Insurance Corp. will cover more than $600 million in litigation costs paid by the bank.

Mortgage M&As Move Forward
A home lender that focuses on the Hispanic market recently received an equity injection. Two other mortgage businesses were acquired, while another is part of a bank acquisition.

Mortgage Servicer Defrauds Ginnie
The president of a servicer has been charged with stealing nearly $3 million from loans included in mortgage-backed securities guaranteed by the Government National Mortgage Association.

Year Closed Acquired
2016 27 18
2015 26 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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Bank news

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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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