Citifinancial windsor ontario consolidating
– its Belvedere subsidiary is in default and faces margin calls Apex Financial Group/Aapex Mortgage – commission checks delayed, licenses suspended Apex Mortgage/Aapex Mortgage – reportedly cease all opertions Apex Lending, Inc.– shut down Appalachian Community Bank – shut by FDIC APS Mortgages Limited (UK) – independent brokerage shut down Arcola Homestead Savings Bank – shut by FDIC Argent – sold to Citigroup Assured Lending Corp – to exit wholesale lending Atlantic Bank and Trust – shut by FDIC Atlantic Southern Bank – shut by FDIC Aurora – stopped wholesale and correspondent lending Aurora Loan Services – 160 employees laid off Aurora Loan Services – laid off 70 in Florida, 139 in NJ Aurora Loan Services – cut 93 jobs in El Toro, CA Axix Mortgage – closed Banco Santander – to buy UK lender Alliance & Leicester PLC Bank Atlantic – laid off 115 employees Bank First – shut by FDIC Bank of America – cut 34 jobs at Saratoga Springs, NY mortgage office Bank of America – halts reverse mortgage lending Bank of America – halts wholesale mortgage lending Bank of America – to cut up to 35,000 jobs Bank of America – to buy Countrywide Bank of America – Countrywide merger possibility, continued layoffs Badger State Bank – shut by FDIC Bank of America – cutting 3,000 jobs in investment banking unit Bank of America – to cease wholesale lending, 700 layoffs Bank of America – to cut 650 jobs, sell its prime brokerage unit Bank of America – cut 224 jobs in Tampa, 195 in Troy Bank of America – to cut 7,500 jobs post merger Bank of America – completes purchase of Countrywide Bank of America – to buy Merrill Lynch Bank of Choice – shut by FDIC Bank of Clark County – shut down by FDIC Bank of Ellijay – shut by FDIC Bank of Elmwood – shut down Bank of Granite and Granite Mortgage Inc.– ceased wholesale lending Bayside Savings Bank – shut by FDIC Bayview Financial – cut 60 jobs BB&T – bought Collateral Real Estate Capital BB&T – to shut subprime wholesale lending unit BC Bancorp – shut down BC National Banks – shut by FDIC Beach First National Bank – shut by FDIC Beacon Financial Mortgage Bankers Corp.– filed bankruptcy Bear Stearns – layoffs Bear Stearns – closed two hedge funds after huge subprime losses, 240 subprime layoffs Bear Stearns – merging Encore Credit and Bear Stearns Residential Mortgage into one unit Bear Stearns – more layoffs Bear Stearns – cuts 150 jobs in Irvine, CA Beazer Mortgage Corp.– shut down, layoffs All Fund Mortgage – rumored to be closed, acquired by Carlile Investments Inc.Allstate Home Loans – shut down after buyout Ally Financial – sold European mortgage assets/operations to Fortress Investment Group ALT Funding – believed to have ceased operations Alterna Mortgage – New Jersey wholesale lender closed Alternative Financing Corp.
– closed Bay National Bank – shut by FDIC Bay Rock Mortgage Corp.
– layoffs Desert Hills Bank – shut by FDIC Deutsche Bank Correspondent Lending Group – consolidating business to Mortgage IT Diablo Funding Group – shut down Direct Finance Corp. Ditech – 181 layoffs – cut 120 jobs at Costa Mesa, CA headquarters Dollar Mortgage Corp.
– being acquired by Shearson Financial Network Domestic Bank – shutting down wholesale unit Dover Mortgage Company – shutting wholesale mortgage division Dover Mortgage Co. – to shut down Downey Savings – shut down by the FDIC Downey Savings – shut wholesale channel Draper and Kramer Mortgage – merged with 1st Advantage Mortgage LLC Dwelling House Savings and Loan Association – shut by FDIC e Bank – shut down by FDIC E-Loan/Banco Popular Wholesale Mortgage – to cease lending E-loan – closed sub-prime wholesale division, layoffs E-Loan – layoffs E-Trade exits wholesale mortgage business E-Trade – to halt mortgage lending Earl Shilton building society (UK) – halts mortgage lending Earthstar Bank – shut by FDIC Eastern Financial Florida Credit Union – put in conservatorship Edgewater Lending Group – halts wholesale lending Egg Mortgages (Citi-owned UK finance unit) – no longer accepting applications Elizabeth State Bank – shut by FDIC Empire Bancorp Mortgage Bankers – shut down Encore Bank – laid off 300 employees ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug.
In the past decade, there have been many many changes in the landscape of lenders.
We have found a fairly comprehensive list on the Internet.