twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map


subscribe to free Mortgage Daily email newsletter


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





PRESS RELEASE


Mortgage and Bank Failures Fall in 2011


DALLAS -- (Jan. 3, 2012) The U.S. mortgage industry saw a marked decline in business closings last year. Non-bank casualties fell to the lowest level since before the financial crisis, while bank failures fell for the first time in six years. The biggest players in reverse mortgage lending called it quits.

During 2011, Mortgage Daily tracked the failure or closing of 131 mortgage-related entities.

Business closings in real estate finance tumbled 35 percent from 2010.

Just 20 of last year's closings were non-bank entities, less than the two dozen tracked a year earlier and the lowest number since 2005's eight.

Among last year's biggest events was Bank of America Home Loans' decision to exit correspondent lending. The business originated around $100 billion annually.

PMI Mortgage Insurance Co. stopped writing new policies and was seized from parent The PMI Group Inc. by the Arizona Department of Insurance.

Much of the non-bank activity was concentrated in the reverse mortgage sector, with three of the biggest reverse mortgage lenders -- BofA, Wells Fargo Home Mortgage and Financial Freedom -- all disclosing in the first half plans to exit the sector.

Type 2011 2010
Nonbanks 20 24
Banks 92 157
Credit Unions 19 22
Total 131 203

Last year saw 92 federally insured banks fail, fewer than in 2010. It was the first time since 2005 that bank failures have declined.

Among last year's most significant bank failures were Community Bank, where assets were $2.3 billion; Integra Bank, N.A., which had $2.2 billion in assets; and United Western Bank, with $2.1 billion in assets.

Other high-profile banks to close included Lydian Private Bank, with $1.7 billion in assets; Community Banks of Colorado, which had $1.4 billion in assets; and Bank of Choice, where there were $1.1 billion in assets

Mortgage Daily tracked the failure of 19 credit unions last year, a few less than in 2010.


Complete details about all failed and closed mortgage companies and operations are available at:
http://www.MortgageDaily.com/MortgageGraveyard.asp?spcode=pr

About MortgageDaily.com
Founded in 1998, MortgageDaily.com is a dominant online source of mortgage news and mortgage statistics for the mortgage industry.



CONTACT:
Holly Himelright
NewsAlert@MortgageDaily.com


Source: MortgageDaily.com


Q4-2011 Mortgage Graveyard Report
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



Bank news

Credit Union news


Reverse Mortgage News
Home equity conversion mortgages, HECM lenders and HECM reports. Reverse mortgage lending issues, analysis and compliance.



Financial Regulation News | Mortgage Regulations | Financial Regulation Newsletter
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.



Public Relations News | PR Agencies | Mortgage Daily Press Releases
Announcements about mortgage industry public relations firms. Stories about building your brand and increasing your exposure.




Logout forgot
password?
Closer Look at Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This 16-page summary looks at various provisions of the new law that will affect how the residential mortgage industry operates for the foreseeable future.

Q1 2013 regulatory lawsuits

Q4 2012 regulatory lawsuits

Q3 2012 regulatory lawsuits

Q2 2012 regulatory lawsuits

Q1 2012 regulatory lawsuits

Q4 2011 regulatory lawsuits

Q3 2011 regulatory lawsuits

Q2 2011 regulatory lawsuits

Q1 2011 regulatory lawsuits

Q4 2010 regulatory lawsuits

Q3 2010 regulatory lawsuits

Q2 2009 federal preemption lawsuits

Q4 2008 federal preemption lawsuits

Q3 2008 federal preemption lawsuits

Q2 2008 federal preemption lawsuits

full-year 2007 federal preemption lawsuits


Financial Regulation News
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
Bank news


Credit Union news


Mortgage Regulation Table


Regulatory Actions Against Financial Institutions

Q1 2011

Q4 2010

Q3 2010

Q2 2010

Q1 2010


Q4 2009

Q3 2009

Q2 2009

Q1 2009

Q4 2008

Q3 2008


Q3 2009 Regulator Litigation


Regulatory Statistics



SUBSCRIBERS: Edit Subscription | Subscription Help | or call Holly at 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2014 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

sales blog

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news