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

www.reversefunding.com

subscribe to free Mortgage Daily email newsletter
The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.


www.lenderhomepage.com

PRESS RELEASE


Fewer Banks Failing


DALLAS -- (April 4, 2011) /PRNewswire/ A 37 percent year-over-year decline in bank failures has the number of mortgage-related operations to close or fail down steeply during the first quarter at the Mortgage Graveyard from MortgageDaily.com. Despite the subdued banking activity, the reverse mortgage sector took a beating.

During the first three months of 2011, a total of 37 mortgage-related firms or departments either failed or were closed down by management, based on coverage at MortgageDaily.com -- a leading online news publication for people with an interest in real estate finance.

The decline in casualties was primarily attributable to a slowdown in the number of bank failures. As of the end of last month, just 26 bank failures had been reported by the Federal Deposit Insurance Corp.

By the end of the first quarter of last year, 41 federally insured banks had already failed.

The latest quarter also saw fewer failed banks than the 30 in the final quarter of 2010.

Within the latest quarter, 23 of the bank failures occurred during either January or February; but only three banks failed during March.

"One sector that saw the exit of high-profile players was reverse mortgage lending," said Sam Garcia, founder and publisher of Mortgage Daily. "During the first quarter, Bank of America Home Loans disclosed plans to abandon reverse mortgage lending, Financial Freedom's parent OneWest Bank Group LLC said it decided to pull the plug on reverse lending, and Wells Fargo Home Mortgage announced it would eliminate its wholesale reverse mortgage channel."

The exit by the big players comes as reverse mortgage originations have plummeted. During fiscal 2010, only 96,971 home-equity conversion mortgages were endorsed by the Federal Housing Administration, tumbling from the previous year's 162,619.

While NetMore America Inc. hasn't necessarily closed down, the company did substantially reduce its operations during the period.


Type Q1 2011 Q1 2010
Nonbanks 5 7
Banks 26 41
Credit Unions 6 5
Total 37 53


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
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


Source: MortgageDaily.com


37 mortgage-related operations close or fail in first quarter
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.

www.lenderhomepage.com
Bank news


Credit Union news


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

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

www.mortgagebranchmanagerjobs.com

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 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

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

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news