Another Wholesaler Falls
A California-based nonprime lender has closed its wholesale operations and laid off 150 people.

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Biggest Mortgage News in February
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Licenses Lost
Mortgage fraud is at the heart of several mortgage license revocations spanning two states.

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ResMAE Files for Bankruptcy
ResMAE Mortgage Corp. has filed for bankruptcy protection and reached an agreement to sell assets.

Subprime Storm Isn't Over
The co-founder and chief of America's largest originator told Wall Street analysts Tuesday that as many as 50 subprime lenders are going down a day -- a trend that he expects to continue though this year.

Chase Dumps Subprime Loans
JP Morgan Chase & Co. has sold off much of its subprime mortgage holdings as the industry continues to struggle through a brutal downturn. But given the right deal, the financial giant would again take a big position.

Mismanagement Kills Mortgage Firm
Arizona regulators are shutting down a mortgage company with over 80 branches because of extremely lax hiring practices, poor record keeping and incompetent management.

More Mortgage Mergers
A $5.7 billion portfolio and a wholesale mortgage operation will trade hands in two upcoming acquisitions.

Subprime Layoffs at WaMu
There was no Valentine's Day celebration for hundreds of Washington Mutual Inc. subprime employees.

Mortgage M&A
The acquisition of a troubled subprime wholesaler wasn't the first deal of its kind, but it did top the latest week's mergers, acquisitions and other corporate activity.

Former Exec Sues Ameriquest
A lawsuit filed against Ameriquest Capital Corp. by a former senior executive alleges the subprime giant owes him $30 million it agreed to pay him as a consultant so he wouldn't compete against the company. But an attorney for the lender calls the complaint "fiction."

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