twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

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

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

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

Press Releases
Reports and announcements from

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









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.


Over 300 Mortgage-Related Failures

DALLAS -- (Jan. 12) /PRNewswire/ The number of non-bank mortgage companies to close eased last year, but bank and credit union failures soared, according to data tracked at the Mortgage Graveyard
, a journal of failed, ailing and acquired lenders. More than 300 mortgage-related companies have shut down since the credit crisis emerged in 2006.

During 2008, 116 mortgage bankers and financial institutions were closed down, according to the Mortgage Graveyard, which is maintained based on data reported at Failures, which generally involve companies with at least 50 employees, fell from a revised 160 tracked for the prior year.

Including two operations that wound down this year, the Mortgage Graveyard has tracked 305 mortgage-related firms that have ended independent operations since the beginning of the credit crisis in 2006.

"We've seen the capital crisis shift to financial institutions from unconventional mortgage bankers and non-agency securities," said Publisher Sam Garcia. "But TARP investments, Fed MBS purchases and the potential re-capitalization of ResCap point toward a strong first quarter for the mortgage sector."

In 2008, 25 FDIC-insured institutions failed -- soaring from just three during all of 2007. Among last year's most significant bank failures were Downey Savings and Loan Association, F.A., IndyMac Bank F.S.B. and Washington Mutual Bank -- the biggest bank failure in U.S. history.

Credit union failures totaled 14 last year, based on data from the National Credit Union Administration. Only seven credit unions were closed in 2007.

The biggest nonbank failures last year involved Fannie Mae and Freddie Mac. Other notable 2008 closings included the wholesale division of Accredited Home Lenders Inc., which was one of the few lenders to survive the subprime meltdown; Carteret Mortgage Corp., which had employed around 1,700 people in 2007; and E-LOAN Inc., which had been an online lending pioneer.

Mortgage-Related Failures
Year Non-bank
Banks Credit Unions Total
2008 77 25 14 116
2007 150 3 7 160
2006 18 0 9 27
total 245 28 30 303

A complete report of all failed companies is available at:

Founded in 1998, is a dominant online news source for the mortgage industry. Around one million mortgage business news pages are viewed monthly at and its affiliated publications.

Sam Garcia
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


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.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 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


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

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news