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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 Friday, April 18, 2014 08:16 AM Texas Time



Annual Activity

Former Officials of Failed $2.7 Billion Bank Sued
Former directors and officers of a failed $2.7 billion bank are being sued for loans they made and rules they broke while at the helm of the financial institution.

AMC Giant Acquired
An appraisal management company that claims to be among the biggest of its kind has been acquired by an insurance product provider.

2014 Is Year of Mergers for Mortgage Firms
Although the number of mortgage-related casualties has significantly declined this past year, wholesale lenders are disappearing at a brisk pace. Meanwhile, mortgage mergers are on the rise.

Q1 mortgage casualties at 13

Former Officials at 2 Failed Banks Sued by FDIC
Two lawsuits recently filed by the Federal Deposit Insurance Corp. bring to 23 the number of failed Georgia banks that have seen former officers and directors sued during the past three years.

Banks Scoop Up Mortgage Bankers
A trio of recent mortgage banking deals were made by banks, and one involves a former Wells Fargo & Co. joint venture.

Builder's Mortgage Unit Acquires Retail Originator
Just a month after announcing it would eliminate wholesale lending from its business, Universal American Mortgage Company LLC is acquiring retail mortgage banking assets.

Fmr CFPB Official's Firm to Offer Wholesale Non-QMs
A company founded by a former Consumer Financial Protection Bureau official has agreed to a merger that has it providing non-Qualified Mortgage through the wholesale channel.

Nationstar Executive Joins loanDepot
A top executive at Nationstar Mortgage LLC's retail lending subsidiary has jumped ship and joined another fast growing company.

Valuation Services Being Acquired
A mortgage service provider that helps home lenders manage their risk is unloading its suite of home valuation services. The acquirer also picked up a compliance company.

Warehouse Lender Agrees to Be Acquired
The parent of warehouse lender Southwest Securities, FSB, has reached an agreement to be acquired in a move that will create one of the largest Texas banks.

Year Closed Acquired
2014 13 21
2013 62 32
2012 83 27
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.

C F P B Compliance Relief
Control Solutions International is helping mortgage firms and banks maintain compliance with an array of new C F P B rules.
story | www.ControlSolutions.com | email | 888.902.8348 x 8102



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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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.

August

Servicer is Fastest Growing Mortgage Company
In all, nine mortgage-related businesses are among the country's 500 fastest-growing companies. While an appraisal management company was the fastest-growing mortgage-related company last year, this year's top spots were taken by two distressed loan service providers.

Mortgage Insurance Success Story
For half a century, United Guaranty Corp. has been insuring the nation's home loans. It has survived some difficult times to become the top mortgage insurance company in the country.

From Startup to Hundreds of Employees in 6 Years
An Andover, Minn., mortgage firm that launched during the heat of the mortgage meltdown has survived -- growing its ranks to hundreds of employees.

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