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The Mortgage Graveyard 2007 Archives
Failed, Struggling and Acquired Mortgage-Related Companies

Non-Bank Closures 158
Bank Failures (FDIC) 3
Credit Union Failures (NCUA) 7
Total Mortgage-Related Failures


Year-to-date count: 168

1st National Bank Holding Co. (wholesale ops)

21st Century Financial Resources Inc.

Aapex Mortgage Corp.

ACT Mortgage Capital (nonprime wholesale ops)

AcuLink Mortgage Solutions LLC

Aegis Mortgage Corp. (originations)

Alliance Bancorp

Alterna Mortgage

Alternative Financing Corp.

Altivus Financial

American Home Mortgage Investment Corp.

Ameriquest Mortgage Co.

Ameritrust Mortgage Company LLC (subprime wholesale ops)

Amstar Mortgage Corp.

Bank of America (correspondent)

Bank of America (wholesale)

Bay Capital

Bay Finance Co.

BayRock Mortgage Corp. (wholesale ops)

Belvedere Trust Mortgage Corp.

BNC Mortgage LLC

BrooksAmerica Mortgage Corp.

Cal State 9 Credit Union

Central Pacific Mortgage

CFIC Home Mortgage

Charter One Bank's specialty lending group (wholesale ops)

Chevy Chase Bank (correspondent ops)

Choice Capital Funding

CIT Home Lending

Colony Mortgage Corp.

Columbia Home Loans LLC

Communities United Credit Union

ComUnity Lending

Concord Mortgage Co.

Dana Capital Group

Decision One Mortgage

Delta Financial Corp.

Deutsche Bank (correspondent unit)

Diablo Funding Group

Dillon Read Capital Management

Domestic Bank (wholesale ops)

E*TRADE Financial Corp. (wholesale ops)

Eagle First Mortgage

ECC Capital Corp. (mortgage ops)

EquiBanc Mortgage Corp.

Expanded Mortgage Credit

Express Capital Lending (halted new business Aug. 2007)

Family First Mortgage Corp.

Fieldstone Investment Corp.

First Bank Mortgage (wholesale division)

First Consolidated Mortgage Co. (subprime wholesale ops)

First Horizon Home Loans (subprime wholesale ops)

First Indiana Corp. (wholesale ops)

First Magnus Financial Corp.

First Mariner Bancorp (wholesale ops)

First Source Funding Group Inc.

First Street Financial Inc.

FlexPoint Funding

Flick Mortgage Investors Inc.

FMF Capital LLC

Franklin Credit Management Corp.

Freestand Financial Holding Corp.

Fremont General Corp. (mortgage ops)

GEM Capital Funding

Great Southwest Mortgage

GreenPoint Mortgage

Green Tree Federal Credit Union

Heartland Wholesale Mortgage

Heartwell Mortgage Corp. (originations)

Heritage Plaza Mortgage

H&R Block Mortgage Corp.

Home123 Corp.

Home Capital Inc.

Homefield Financial (wholesale ops)

Homeland Capital Group LLC

Honor State Bank (wholesale division)

HSBC Mortgage Services (correspondent channel)

Huron River Area Credit Union

Impac Home Loans

Impac Mortgage Holdings Inc. (warehouse, commercial and Alt-A channels)

Innovative Mortgage Capital

Investaid Corp. (mortgage ops)

Ivanhoe Financial Inc.

Kellner Mortgage Investments

Lancaster Mortgage Bankers LLC

Lenders Direct Capital Corp. (wholesale ops)

Liberty American Mortgage

Long Beach Mortgage Co.


LownHome Financial Corp. (mortgage leads)

Mandalay Mortgage (nonprime ops)

Market Street Mortgage Corp.

Master Financial Inc.

Mercantile Mortgage Co.

Metropolitan Savings Bank

Miami Valley Bank

Millennium Bankshares Corp. (mortgage ops)

Millennium Funding Group

MLSG Home Loans (wholesale ops)

Mortgage Investment Lending Associates (MILA)

Mortgage Lenders Network

MortgageIT Inc. (retail unit)

Mylor Financial

Nation One Mortgage Co.

National City (wholesale home equity unit)

National City (correspondent unit)

National City (wholesale unit)

Nationstar Mortgage LLC (wholesale ops)

NetBank Funding Services

NetBank Inc.

New Century Financial Corp.

New State Mortgage

New England Merchants Corp.

Nomura Holdings Inc. (RMBS ops)

No Red Tape Mortgage

Obelisk Federal Credit Union

OPFM Inc. aka Personal Financial Management and Image Masters Inc.

Opteum Financial Services LLC (correspondent and wholesale ops)

Option One Mortgage Corp.

Pacific American Mortgage Co.

Paul Financial

People's Choice Home Loan Inc.

Peoples First Choice Federal Credit Union

Peoples Mortgage Co.

Popular Financial Holdings (nonprime wholesale ops)

Preferred Advantage

Premier Mortgage Funding Inc.

Randall Mortgage Services Inc.

Regions Financial Corp. (warehouse lending operation)

ResMAE Mortgage Corp.

Right-Away Mortgage Inc.

Saxon Mortgage (correspondent ops)

Secured Bankers Mortgage Co. (aka SBMC)

SCME Mortgage Bankers (field operations)

Secured Funding Corp. (wholesale ops)

Seniors Lending Group

Sharebuilders Federal Credit Union

Silver State Mortgage

Solutions Funding Inc.

Southern Lenders Mortgage Corp.

Southern Star Mortgage

SouthStar Funding

Sovereign Bancorp (wholesale ops)

Spectrum Financial Group Inc.

Starpointe Mortgage

Summit Financial Group Inc. dba Summit Mortgage

Summit Mortgage LLC

The Lending Connection Inc.

The Lending Group Inc.

The Mortgage Store

The Mortgage Warehouse

The New York Mortgage Trust Inc. (mortgage ops)

TransLand Financial Services

Transnational Financial Network Inc. (wholesale ops)

UBS Home Finance

United Equity LLC

U.S. Mortgage

Valley Vista Mortgage

Wachovia Mortgage Corp. (correspondent channel)


Washington Mutual (correspondent / subprime / warehouse)

Webster Bank N.A. (wholesale and correspondent channels)

Wells Fargo Home Mortgage (wholesale and correspondent channels)

WinStar Mortgage Partners Inc.

WMC Mortgage

W.J. Bradley Co. (wholesale ops)

Zion United Community Credit Union

Year-to-date count: 56

ABN AMRO Mortgage Group

Accredited Home Lenders Holding Co.

Affiliated Mortgage Co.

All Fund Mortgage

Apartment Lending Group.

ARCS Commercial Mortgage

Argent Mortgage Co.

ATM Mortgage

Bankers Express Mortgage Inc.

Bankers Financial Mortgage Group Ltd.

Barrington Capital

BMC Mortgage Services Inc.

Broadway Premium Funding Corp.

BNY Mortgage Co.

Champion Mortgage

Collateral Real Estate Capital LLC

Community Bank & Trust Co.

Dollar Mortgage Corp.

ECC Capital Corp. (wholesale ops)

EquiFirst Corp.

Fair Home Lending Financial Inc.

Fidelity Capital Mortgage Co.

Fieldstone Investment Corp.

Flatirons Financial Inc.

GN Mortgage

Green Tree Servicing

HomeBanc Corp. (retail ops)

Home Loan Center

Huntington Financial

Irwin Mortgage Corp. (servicing operations)

Landmark Financial Corp.

LaSalle Bank Corp.

Liberty Reverse Mortgage Inc.

Lime FInancial Services

Litton Loan Servicing

Metrocities Mortgage LLC

MortgageTree Lending Corp.

MortgageIT Holdings Inc.

New Century Financial Corp. (loan servicing operations)

Opteum Financial Services LLC (retail ops)

Pinnacle Financial Corp.

Platinum Community Bank F.S.B. (wholesale ops)

Pocahontas Bancorp Inc.

Pulaski Bank and Trust Co.

Quality Home Loans

Republic Mortgage Company LLC

Resource Bank (mortgage assets)

Reverse Mortgage of America

Rutgers Investment Group LLC

Sac 1st Mortgage

Sendera Funding LLC

Sky Financial Group Inc.

Talx Corp.

Transnational Financial Network Inc. (mortgage ops)

Valley Mortgage Bankers

Vertical Lend

Mortgage Meltdown Leaves Failed & Bankrupt Lenders in Wake

The latest subprime meltdown has left many mortgage lenders out of business.

In addition, several mortgage bankers have filed for bankruptcy or been acquired.

The implosion from this subprime storm (more like a subprime tsunami) has resulted in many failed mortgage companies.

The Mortgage Graveyard focuses on mortgage lenders that have failed, been acquired or are currently struggling.

The new journal is supported by nearly a decade of mortgage industry news archives written by a variety of reporters for, the dominant source of online news for the mortgage industry.

"We've seen the secondary market for subprime mortgages disintegrate over the past six months -- leading to an unprecedented number of company failures," said Sam Garcia, creator of The Mortgage Graveyard. "Information about the companies -- and the lessons to be learned from their failures -- is now easily accessible for analysis by future mortgage executives, analysts and educators."

Before becoming's publisher in 2000, Mr. Garcia worked in mortgage lending for 20 years. His mostly subprime wholesale career included stints at companies that have gone out of business or been acquired.

Lender failures dating back to 1999 are featured in one of four columns.

Another column features lenders that have been acquired.

One column lists subprime mortgage bankers that are currently struggling.

Helping to keep things in perspective, a fourth column highlights recent mortgage company success stories.

By clicking on any of the companies listed in The Mortgage Graveyard, users are directed to a chronological listing of search results of news stories for that company.

read about The Mortgage Graveyard at the Wall Street Journal

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.

The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.

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