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


Record Pace of Mortgage Failures

DALLAS -- (April 6) /PRNewswire/ The mortgage sector is on pace to see a record number of failures this year as regulators seize banks at an accelerating rate, according to data tracked at the Mortgage Graveyard -- a journal of failed, ailing and acquired lenders. A lack of government loans programs and lost warehouse financing played a role in some of the closings.

From Jan. 1 through March 31, reported 50 mortgage-related company closings. The annualized rate of first-quarter failures, 200, would be a big leap from 120 during 2008 and higher than 2007's 160 -- the most of any year since tracking began in 1998.

At 21, federally insured bank failures are on pace to exceed 80 this year -- about three times last year's level. First-quarter nonbank closures were 25, while four credit unions were shut down.

JPMorgan Chase & Co. closed its mortgage broker unit during January in a move the company's chairman and CEO said he regretted not making sooner.

On one recent Friday, the FDIC took control of three banks, while two corporate credit unions were placed in conservatorship.

Credit unions have also had to contend with the collapse of Central States Mortgage and CU National Mortgage -- two firms that provided mortgage services to credit unions.

Chase and National City Corp. both closed their warehouse lending operations. As mortgage bankers have found it increasingly difficult to finance loan originations, many have failed. Recent warehouse casualties include Home Loan Consultants Inc., Popular Mortgage Corp. and Residential Loan Centers of America Inc.

Around 1,000 loan officers in 100 branches were impacted by the failure of Arizona-based Liberty One Lending. Among the reasons for the company's collapse was its slow adoption of FHA programs.

A resistance to FHA business also played a role in the closing of California-based First Security Loan Corp.

Mortgage Related Failures
Type of Company 2009
(through 3/31)
Non-Mortgage Firms 25 81
Banks 21 25
Credit Unions 4 14
Total 50 120

A complete report of all failed companies is available at:

Founded in 1998, is a dominant online source of mortgage news for the mortgage industry. Around 1 million 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