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


Bank Failures Double


DALLAS -- (April 12, 2010) /PRNewswire/ This year has seen a big decline in the number of non-bank mortgage lenders to close down, according to the Mortgage Graveyard from MortgageDaily.com. But the improvement was more than offset by a spike in failed financial institutions. More than twice as many federally insured banks have failed compared to the same point in 2009.

From Jan. 1 through April 9, MortgageDaily.com tracked 55 mortgage related closings. At about the same point last year, 50 closings had been tracked.

The increase was fueled by bank failures, which doubled compared to a year earlier.

Among the most notable bank failures were Florida Community Bank, with losses from its collapse projected at $353 million; Appalachian Community Bank, which the FDIC expects to lose $419 million on; and Horizon Bank, where Deposit Insurance Fund costs are estimated at $539 million.

Even more significant were the closings of First Regional Bank, with expected losses of $826 million; Community Bank and Trust, which the FDIC expects to lose $828 million from; and La Jolla Bank, FSB, where $882 million in losses are projected.

Credit union failures jumped by half from 2009.

But non-bank mortgage operations to close were two-thirds lower than where they stood at the same point last year. One notable non-bank closing was that of Equitable Reverse Mortgage Co., which claimed to be "the 14th largest reverse mortgage lender in the nation." Another company, Assurity Financial Services LLC, touted its standing as a "Top Non-Imploded" lender before throwing in the towel.

"We saw regulatory actions against U.S. financial institutions nearly double between the first-quarter 2009 and this year, suggesting the acceleration in bank failures is unlikely to abate," said MortgageDaily.com Founder and Publisher Sam Garcia. "However, a thawing of the market for mortgage-related assets could help move some institutions out of the 'troubled' category."

Type Through 4/12/10 Through 4/6/09 Full-year
2009
Nonbank 7 25 69
Banks 42 21 140
Credit Unions 6 4 20
Total 55 50 229


Complete details about all failed companies 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 for the mortgage industry. Around 1 million news pages are viewed monthly at MortgageDaily.com and affiliated publications. www.MortgageDaily.com.


CONTACT:
SamGarcia@MortgageDaily.com
214.521.1300
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


Source: MortgageDaily.com


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
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