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Biggest Mortgage News in April
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The Mortgage Graveyard
A new journal chronicles mortgage lenders that have failed, been acquired or are currently struggling.

Wholesaler Closes Shop
An Irvine, Calif.-based nonprime wholesaler that originated more than $1 billion during its first two years in business is shutting down.

Wholesale Operation Shuttered
An Inc. 500 company has abandoned mortgage broker business.

2 Wholesalers Close
Two niche wholesalers have ceased operations.

Wholesaler Still Open
A California-based wholesale lender is denying reports it has closed down -- though it has stopped taking applications for certain types of loans and reduced staff by 20 percent as a result of volume fallout.

Quicken Soaring
Quicken Loans is hiring hundreds of people every month -- helping its mortgage production reach an all-time record.

Mergers Dissolve
While there are plenty of mortgage mergers going down, two deals recently fell apart. Meanwhile, a Connecticut-based bank has shut down its mortgage subsidiary.

NC Subprime Wholesaler Finished
One of the fastest-growing private companies has stopped funding subprime loans for mortgage brokers.

Earnings Devastated by Subprime
A rash of mortgage-related companies announced subprime hits to their earnings -- with some exiting mortgage lending altogether. Meanwhile, some banks and net branch operations are still growing.

WMC Fundings Free Fall
WMC Mortgage has stopped underwriting subprime loans based on what Wall Street wants. But the move has had a pronounced impact on production.

Read the full text of these articles and many more at: www.MortgageDaily.com

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Thanks,
Sam Garcia
Publisher
www.MortgageDaily.com
Mortgage Industry News


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