finance of america layoffs

Save. How do the non qualified loans companies still stay in business? FoA may exit the retail channel if it fails to sell the business, a source with direct knowledge of the negotiations said. ~60 people. CrossCountry Mortgage acquired PERL Mortgage, Inc. E-Trade exits wholesale mortgage business, Encore Credit merging with Bear Stearns Residential Mortgage, Finance of America Mortgage acquired Skyline Home Loans, First Magnus no longer funding or originating any mortgage loans, FNBA wholesale division and correspondent line shut down, Freedom Mortgage Corp. acquired J.G. Any help is appreciated. In the decade after the 2008 financial crisis, Wall Street firms contended with the industry's declining revenue pools by implementing annual layoffs that targeted those perceived to be the. Already lost one buyer and have another but can do nothing until lien is released. Thank you! Overview 128 Reviews 12 Jobs 51 Salaries 8 Interviews 33 Benefits -- Photos Follow + Add a Review Finance of America Mortgage Reviews Updated Feb 9, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 127 of over 128 reviews Sort Popular Popular COVID-19 Related Highest Rating And JPMorgan's Dimon said in a televised interview with Fox Business Network last week that the bank has "a lot of growth plans.". I havent seen anything about it in the news. On Wednesday, Amazon announced it was laying off 18,000 workers. The layoffs represent about 10% of Wayfair's corporate team, the company said, and will cost between $30 million and $40 million for severance and benefits for laid-off employees. The troubles in the tech space were even acknowledged by Federal Reserve Chair Jerome Powell, who said during a press conference last month these layoffs were "a story unto itself.". It sure opened my eyes to look for another industry. Spot on Sheila, on both the pigeonhole thing and the fact that theres opportunity within the industry. Anybody know the successor of First National Security Corp? According to data tracker layoffs.fyi, tech companies have collectively laid off 153,678 workers last year. But we also add to that a downside scenario, and what this results in is 95% of our reserve methodology is weighted toward a recessionary environment in 2023, Moynihan told investors. They are no longer in business now. For instance, Tesla reportedly implemented a hiring freeze last month and will be conducting a round of layoffs next quarter. 2006-2023 HW Media, LLC. Your email address will not be published. As recession fears swirl, a fresh round of layoffs is in the works for at least four corporate giants to start the new year. The company also has ended discussions to sell its retail mortgage division to Guaranteed Rate, according to a former company official.. Incredible work here. The past meetings I had were about the laying off the ones not being productive. Big cities run by Democrats for decades are now supposedly 'ungovernable', HBO's sexploitation is a workers' rights travesty, WATCH: Steven Spielberg likens rise in antisemitism to 'Germany in the '30s', AOC gloats after construction of Virginia Amazon headquarters delayed as company cuts jobs, Alex Murdaugh trial: Watch the key video that could've sealed guilty murder verdict. The economy added 223,000 more jobs in December, the Bureau of Labor Statistics reported last week, and the number of people applying for jobless claims each week (a forward-looking indicator of the labor market weakening) also shows no evidence of seriously increasing. Late last year, Facebook parent Meta Platforms (META) announced plans to lay off 11,000 workers, or 13% of its overall workforce. Amazon CEO Andy Jassy said late Wednesday the company would cut "just over 18,000 roles," a higher reduction than initially planned.Jassy's message came the same day Salesforce said it would slash 10% of its workforce while Vimeo cut headcount by 11% in its second wave . We are in foreclosure and are being considered for a loan modification. They closed and I need to obtain a release of mortgage. Do you know what is going on with this company? Its all public information, usually from WARN notices or other financial disclosures. Is this data verified? Thank you!! Finance of America Mortgage was owned by Blackstone but went public via a $1.9 billion SPAC deal in 2021. Rumor is they closed mutiple locations. Finance of America Holdings. 11 bankruptcy Movement Mortgage acquired retail division of Platinum Mortgage Inc. Movement Mortgage acquired retail mortgage operations of Eagle Home Mortgage, LLC Movement Mortgage cut 100 jobs nationwide Movement Mortgage acquired First State Bank (VA) Movement Mortgage cut 180 jobs in Fort Mill, Norfolk, Richmond, and Tempe Mountain Heritage Bank shut by FDIC Mountain National Bank closed by FDIC Mr. Cooper acquired Pacific Union Financial LLC Mr. Cooper ceased wholesale lending operations, layoffs Mr. Cooper cut 109 jobs in Santa Ana, CA MutualBank acquired Summit Mortgage, Inc. Mutual Bank shut by FDIC Mutual of Omaha Bank closed mortgage processing operation in Lincoln, NE Mutual of Omaha Bank outsourced in-house mortgage origination channel to Guild Mortgage MVB Bank purchased Potomac Mortgage Group MVB Mortgage and Intercoastal Mortgage Company combined Mylor Financial closed National Bank Holdings Corp. to acquire Peoples Bank, which will sell or shut its national mortgage business by the end of 2017 National Bank of Commerce shut down by FDIC National City ceases wholesale lending National City exits correspondent lending business National City laid off 1,300 National City cut 50 jobs in San Diego National City to exit warehouse lending National Home Equity consolidated by National City Corp., suspended originations, layoffs National Wholesale Funding halted operations NationPoint halts loan origination, layoffs Nationpoint subsidiary of Merill Lynch laid off 60 people in August, 70 more in Nov. Nation One Mortgage Co. Inc. wholesale lender stopped origination and funding of mortgages Nationstar Mortgage changed name to Mr. Cooper Nationstar Mortgage cut 70 jobs at Lewisville, TX headquarters Nationstar Mortgage cut 150+ loan servicing jobs Nationstar Mortgage cut 105 jobs in Scottsbluff, NE Nationstar Mortgage closed St. Louis office, 115 layoffs Nationstar Mortgage sold wholesale division to Stonegate Mortgage, 1,000+ layoffs Nationstar Mortgage acquired Greenlight Financial Nationstar Mortgage purchased $10.4 billion in loan servicing rights from Bank of America Nationstar Mortgage acquired ResCap mortgage servicing assets Nationstar Mortgage acquired Champion Mortgage, closed multiple offices, incl. Morgan Stanley to Cut 1,600 Jobs as Rival Banks See Slowdown. Amid one of the most challenging mortgage markets since the great financial crisis, Finance of America Mortgage LLC (FAM) will shut down by the end of the year following its decision to exit the wholesale channel and the collapse of a forward retail deal with Guaranteed Rate earlier this month. It was owned by HSBC, which may have sold it to any number of different servicing companies. Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal, Optimizing client engagement and communication in 2023, Shared Equity: A required intervention for home affordability. The e-commerce giant first said in November that about 10,000 jobs would be axed. But unlike peers at [hotlink]Goldman Sachs[/hotlink] and [hotlink]Morgan Stanley[/hotlink] who have resorted to mass layoffs, Bank of America CEO Brian Moynihan and CFO Alastair Borthwick are opting for a different strategy. The title search reveled that Washtenaw Mortgage Company never released the Deed of Trust from the loan that was completed in 2002. HONG KONG, March 3 (Reuters) - Bank of America (BAC.N) and Citigroup (C.N) have cut a handful of investment banking jobs in Asia, people familiar with the matter told Reuters, joining global peers . The Last day to lock a loan Is October 31, 2022. I can verify that Lennar Mortgage laid off 114 people on 1/6/2023, then two weeks later gave the ones left 2% to 4% raises and a lot of promotions with 10% raises. Amid changes to the nonbank lenders C-Suite and business lines, veteran mortgage executive Bill Dallas left his position as president of Finance of America Mortgage in March. Scary times for all of us in the industry. In an effort to reduce overhead, Kalamazoo MI based AmeriFirst Home Mortgage terminated approximately 45 people. Numbers are unknown but my guess they likely reduced workforce by about a third in total. Not sure their track record on loan mods unfortunately. Many U.S. hospitals are turning to layoffs to cut costs as they recover from the financial hit of the COVID-19 . So maybe the bodybuilder CEO and his VS model wife can purchase another multimillion property in Chicagoland with those funds; it certainly didnt go to the employees that brought them back up when they re-opened after closing their doors in 2017. I happened to be traveling for work across the country from where I lived when I was laid off: as of today, you are no longer employed with Academy. Totally left stranded. I cannot recall who bought Round point in 2006-2007. Investor Relations. My mother has been informed that her mortgage with Beneficial is being taken over by Rushmore Loan Management, she didnt know that Beneficial was doing this. Today, Bank of America (NYSE:BAC) is grabbing a disproportionate amount of attention.News of Bank of America layoffs has led to an impressive surge of nearly 2% in BAC stock. Laurel, NJ PHH Mortgage Corp. laid off 69 employees in Amherst, NY PHH Mortgage Corp. cut 2250 jobs in New Jersey PHH Mortgage Corp. cut 135 jobs in Amherst, NY PHH Mortgage Corp. laid off 130 employees at its Mount Laurel, NJ mortgage servicing center PHH Mortgage Corp. merger terminated PHH Mortgage Corp. exited wholesale/correspondent mortgage lending channel PHH Mortgage Corp. cut 33 jobs in Mount Laurel, NJ PHH Mortgage Corp. cut 80 jobs in Amherst, NY, eventually close office in 2017 PHH Mortgage Corp. laid off 365 mortgage workers in Jacksonville PHH Mortgage Corp. laid off 140 in Providence, 300 more from NJ and FL offices Piedmont Community Bank shut by FDIC Pierce Commercial Bank shut by FDIC Pillar Processing cut 601 employees at Long Island offices Pimco bought stake in First Guaranty Mortgage Pinehurst Bank shut by FDIC Pinnacle Bank of Oregon shut down by FDIC Pinnacle Direct Funding Corp merged with Tri-Star Lending Pinnacle Financial Corp. acquired by Impac Mortgage Holdings, closed Pisgah Community Bank closed by FDIC Plantation Federal Bank shut by FDIC Platinum Community Bank (IL) shut down by FDIC PMI Group Inc. (mortgage insurer) filed for Chapter 11 bankruptcy PNC Bank acquired BBVA PNC Bank acquired National City PNC Bank to close Capstone Realty Advisors (commercial mortgage unit) PNC Bank shed dozens of mortgage workers amid refinance slowdown PNC Bank discontinued wholesale home equity lending PNC Bank to cut 5,800 jobs PNC Bank to cut 30 workers at loan servicing center in Dayton Polk County Bank shut by FDIC Popular Financial Holdings exited the wholesale sub-prime mortgage market Popular Inc. cut 167 loan servicing jobs in New Jersey Popular Mortgage Corp. shut down Popular Warehouse Lending no longer accepting applications Portellus, Inc. (software) winding down mortgage division, selling mortgage assets Precision Financial Inc. closed Preferred Home Mortgage Co. cut 75 jobs Premier American Bank shut by FDIC Premier Bank shut by FDIC Premier Bank (Denver) shut by FDIC Premier Community Bank of the Emerald Coast shut by FDIC Premier Mortgage Funding, Inc filed for bankruptcy Premium Funding Corp. closed Pretium acquired Deephaven Mortgage LLC Primary Residential Mortgage Inc. acquire The Executive Mortgage Group Principal Mortgage Fund, Inc. to buy Fair Home Lending Financial, Inc. Home Point Financial acquired wholesale division of Platinum Mortgage Inc. Home Point Financial acquired Maverick Funding Corp. HomeStreet Bank sold its stand-alone home loan centers to Homebridge Financial, HSBC closing 260 consumer lending branches, Impac Mortgage stops Alt-A lending, 144 laid off, Lehman Brothers filed Chapter 11 bankruptcy, Lexington Lending halts wholesale operations, Nationstar Mortgage changed name to Mr. Cooper, Envoy Mortgages correspondent lending division, Open Mortgage acquired Premier Home Mortgage, Paul Financial suspends loan origination, Synergy One Lending acquired BBMC Mortgage, Veritex Community Bank acquired 49% stake in Thrive Mortgage, LLC, Wells Fargo cut 350 mortgage jobs nationwide thanks to higher interest rates, Wells Fargo stops reverse mortgage lending. Thanks. Amazon ( AMZN) CEO Andy . As the volume goes down, the number of people you need goes down. . Cross Country Mortgage layoffs in August, September and October. Amazon announced it was laying off over 10,000 employees from its corporate offices and that it would implement a hiring freeze. Overall, FoA delivered a $64 million loss in the first quarter of 2022. I have searched however running into dead ends. "We expect more tech layoffs to persist as the tech sector was spending money like 1980s Rock Stars to keep up with demand and now pivots.". Thank you.! Theyre also in the process of being aquired by NYCB. 312 reviews from Finance of America employees about Finance of America culture, salaries, benefits, work-life balance, management, job security, and more. The job cuts are likely only to be the first in a series of layoffs across the finance world and Wall Street as the countrys economic condition becomes shakier. Dozens of other tech companies have taken similar actions. In 2007 Round point bought my previous mortgage holder. I had a mortgage loan with a company called AMC Mortgage Services in Santa Ana, CA. The increasingly darkening skies for banking and finance come after a year in which tech companies were buffeted by layoffs, despite most other parts of the labor market proving resilient. I was there to assist internal employees with software and technical issues, Glover said. Trying to clear up a release of lien on property. Moreover, Goldman Sachs reported operating expenses jumped 11% from the prior year, attributing the rise to higher compensation a sign the bank may evaluate more areas to cut headcount in coming months. Finance of America Companies Inc. 5830 Granite Parkway Suite 400 Plano, TX 75024 . Any help is appreciated. A survey of Fed participants released after the meeting shows that most foresee the target rate rising from 5% to 5.25% in 2023. CMG Financial, based in San Ramon CA, has been doing layoffs all year but it looks like theybare flying under the radar. Need a copy of a payoff statement. Fairway Independent Mortgage just closed a few branches affecting Colorado, California, Wyoming and Washington on 2/28/2023. Layoffs in 2022 have been rough already, with several companies cutting their workforces just this week. Academy Mortgage just shut down their Nebraska and New Mexico offices, no warning. February 2. Anyone?? Rocket Mortgage is consolidating heavily. How does loanDepot not make the list? This echoed a point the banks chief financial officer Alastair Borthwick made during a post-earnings call last week. Hey Colin, North American Savings Bank announced on Friday 1/6/23 they will be close their Consumer Direct Division. Chase laid off hundreds yesterday 6/22 in mortgage and home lending. A wave of layoffs that hit dozens of US companies toward the end of 2022 shows no sign of slowing down into 2023.. On Thursday, Yahoo announced plans to cut 20% of its global workforce, or more . The market downturn is a reason for the layoffs, for sure. FYI-I was laid off from Nova Home Loans out of Tucson AZ. Bank of America CEO Brian Moynihan said Friday that his firm is preparing for a recession, including a situation in which the recession is worse than anticipated and unemployment rises from the 3.5% level it is at now up to 5.5% this year. The discontinuation of the forward mortgage originations segment will allow Finance of America Companies to optimize its resources and prioritize businesses that have a distinct market opportunity and greater growth potential, Graham Fleming, interim chief executive officer at Finance of America, said in a statement. Why this site doesnt acknowledge is odd to me. KEY TAKEAWAYS "The Salesforce and Amazon layoffs add to the trend we expect to continue in 2023 as the tech sector adjusts to a softer demand environment," Wedbush analyst Dan Ives said. 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The layoffs were a result of the bank's decision to exit the channel, a spokeswoman confirmed. Not giving any severance packages, also not paying employees their accrued sick and vacation time. US WILL HIT DEBT CEILING NEXT WEEK, YELLEN SAYS IN ANNOUNCING EXTRAORDINARY MEASURES. Alexandra Semenova is a reporter for Yahoo Finance. Wells Fargo to exit correspondent lending channel, Zillow Offers shut down, 25% of staff to be let go, Figure to merge with Homebridge Financial Services, AmeriSave Mortgage Corp. bought origination business of The Money Source (TMS), Bank of America to cease wholesale lending, Caliber Home Loans bought Banc Home Loans, CIT Group Inc. bought OneWest Bank (formerly IndyMac), CitiMortgage halts wholesale home equity lending, Citizens Financial Group acquired Franklin American Mortgage Company. Rocket has a plan to drastically cut costs. My mortgage is with Wells Fargo and they are trying to sort this out but time is the critical factor. Its unknown if they laid off other positions as well so it could be a much higher number. Central bank officials will huddle and decide by what degree to raise interest rates, and most investors hope that the Fed will slow down its hiking in order to help avoid job loss. In. Were already starting to see layoffs at Wall Street firms and there is talk about some restructuring in the banking industry, Thomas Smythe, a finance professor at Florida Gulf Coast University, told the Washington Examiner. Novus Home Mortgage is shutting down branches. need help to find who acquired and when Commodore Financial Services Corp., Dallas Texas and if it was Matrix Financial Services Corp., Dallas or wherever. What can I do to have this removed from title when the company no longer exists? Palantir Technologies Inc. plans to cut less than 2% of its workforce in the latest round of technology layoffs. I think there are some very dated ones because I know of one transaction that took place 2 years ago but was positioned below a more recent event that I also know just happened within the last few weeks. The company reported a loss of $168 million. Paramount Residential Mortgage Group/PRMG is cutting 30-35% of staff; there were two rounds of layoffs already on July 27th and a smaller on July 29th, New American Funding laid off hundreds on Tuesday August 2nd. I was one of those affected. I dont know if they merged. Mountain West Financial shut down their wholesale operations on 08/24/22. Brian Moynihan, chief executive officer of Bank of America Corp., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Wednesday, Oct. 12 . Meanwhile, the call centers were expected to be under Kristen Sieffert, president of Finance of America Reverse. Write me, I am also in Santa Ana. But of course the pandemic was radically different with all of the free money that was available. The bank is expecting a modest deterioration in its macroeconomic outlook reflecting a mild recession in the central case.. +0.24%. Finance of America insights Based on 165 survey responses What people like Time and location flexibility Areas for improvement Sense of belonging Trust in colleagues Inclusive work environment Left because mtg division closed Senior Underwriter (Remote) (Former Employee) - Valencia, CA - February 8, 2023 Left because mtg division closed. I am trying to find out who is the successor of Colony Mortgage Corp. I cant believe it hasnt been reported anywhere, Monday Freedom Mortgage laid off 160 Government Underwriters Monday May 23rd, Provident Funding laid off roughly 50 in Nov 2021 and had another round on June 2nd 2022 (exact figures unknown but estimates around 20-40 people). I assume more to come as there is no loans to purchase. 43. Citigroup's chief financial officer Mark Mason also said last week in an earnings call that the bank was actively hiring to execute against our strategy, while also replacing where that makes sense in light of the environment that we're in.". We provide the first and only end-to-end vertically integrated platform in the lending business. After three consecutive quarterly losses, Finance of America Companies (FoA) is negotiating to sell its retail mortgage division, while also planning to shut down its forward wholesale channel. Finance of America exiting wholesale, correspondent lending The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000. Finance of America Mortgage LLC ("FAM") is discontinuing its residential forward mortgage operations. Funny, as the CEO was announcing this, hes still talking about Growing Happiness! January 5, 2023, 10:25 AM. There were some 86,126 mortgage job cuts in 2007, and countless more in subsequent years as major institutions like Bear Stearns, Countrywide Financial, IndyMac, and Washington Mutual all shuttered. Not in bankruptcy? 11 bankruptcy Fremont Investment & Loan laid off 243 employees in Ontario, CA Fremont Investment & Loan cut 243 jobs in CA Freedom Mortgage Corporation bought select residential mortgage assets from New York Community Bank Frontier Bank shut by FDIC Frontier Bank, FSB (El Paseo Bank) shut by the FDIC Frost Mortgage partnered with First Houston Fulton Mortgage Co. (Lancaster, PA) cut 45 employees FundingAmerica not accepting any new business Gateway Bank suspends wholesale lending Gateway Bank Mortgage, Inc. ceased mortgage operations Gateway Bank of St. Louis shut by FDIC Gateway Mortgage Group acquired Farmers Exchange Bank Gateway Mortgage Group closed eight retail mortgage branches in California, 25 layoffs GB Mortgage shutting down GE mulling sale of Australian mortgage unit Wizard Home Loans GE Money (Ireland) halted mortgage lending, cut 80 jobs GE Money (AU & NZ) cut 335 jobs GE Money Canada to halt mortgage lending Generation Mortgage halted reverse mortgage lending, layoffs Genpact Mortgage Services Inc. cut 124 jobs in Richardson, TX Genpact Mortgage Services Inc. cut 81 jobs in Irvine, CA Genpact Mortgage Services Inc. cut 65 mortgage processing jobs in Richardson, TX Genworth Financial cut 400 jobs to reduce costs Genworth Financial cutting roughly 1,000 jobs Genworth Financial acquired Liberty Reverse Mortgage George Washington Savings Bank shut by FDIC Georgia Trust Bank shut by FDIC Georgian Bank shut down by FDIC Glasgow Savings Bank shut by FDIC Gleacher & Company cut 160 employees in mortgage-backed securities unit Global Commerce Bank shut by FDIC Global Mortgage Inc. to be shut down GMAC Mortgage cut 242 jobs in Fort Washington, PA GMAC Mortgage cutting 84 jobs in West Hartford, 45 in Charlotte GMAC Mortgage to shut all 200 retail offices GMAC Mortgage cut 68 jobs in Cherry Hill, New Jersey GMAC Residential Funding (Canada) suspended subprime mortgage origination GMAC in talks to sell Mexican mortgage units to Ixe Bank (Mexico) GMAC-RFC (UK) closed subprime subsidiary High Street Home Loans, 200 layoffs GMAC-RFC (UK) to halt loan origination, 130 layoffs Gold Canyon Bank shut by FDIC Golden Empire Mortgage closed wholesale division GEM Capital Funding Golden State TD Investments LLC filed for bankruptcy Goldman Sachs acquired Genesis Capital Goldman Sachs purchased Litton Loan Servicing Goldman Sachs to cut 1,500 jobs Granite Bank acquired Cousins Home Lending Granite Community Bank shut by FDIC Great Basin Bank of Nevada shut down by FDIC Greater Buffalo Savings Bank halted residential mortgage lending, closed unit Great Southwest Mortgage believed to be closed by parent First Magnus Financial Greater Atlantic Bank shut by FDIC GreenChoice Bank, fsb closed by FDIC Greenpoint Mortgage closed, 1900 employees laid off, 31 branches closed Greenpoint Mortgage shut servicing center in Columbus, GA, 220 layoffs Green Tree Servicing cut 31 jobs in Birmingham, AL Green Tree Servicing exited wholesale mortgage business Green Tree Servicing and Ditech Mortgage Corp. merge, become ditech, a Walter company Green Tree Servicing close Tennessee office, cut 32 jobs Group One Lending shut down Guaranteed Rate acquired Owning Guaranteed Rate acquired Stearns Lending Guaranteed Rate acquired assets/staff from Honolulu HomeLoans and Hawaii Lending Alliance Guaranteed Rate acquired Sun State Home Loans, Nationwide Direct Mortgage, and Arbor Mortgage Guaranteed Rate acquired 75 loan officers from Discover Home Loans Guaranteed Rate purchased the assets of FirsTrust Mortgage Guaranteed Rate Affinity acquired four PHH Home Loans regional mortgage origination and processing centers Guaranty Bank (DBA BestBank in Georgia & Michigan) shut by FDIC Guaranty Bank sold Shelter Mortgage LLC to CIVC Partners Guaranty Bank shut down by FDIC Guaranty Bank to exit warehouse lending Guaranty Bank to shut correspondent lending unit Guaranty Financial cut 10 percent of workforce Guaranty Residential layoffs Guardian Loan Co. shut down Guild Mortgage acquired Residential Mortgage Services Holdings, Inc. Guild Mortgage Co. acquired Cornerstone Mortgage Guild Mortgage Co. bought AmeriPro Home Loans Guild Mortgage Co. acquired Liberty Financial Group Guild Mortgage Co. acquired Comstock Mortgage Guild Mortgage Co. acquired Northwest Mortgage Gulf State Community Bank shut by FDIC GulfSouth Private Bank shut by FDIC H&R Block Mortgage Corp. 353 layoffs H&R Block to cut 505 jobs related to closure of Option One Habersham Bank shut by FDIC Hanna Holdings Inc. acquired 1st Priority Mortgage Inc. HarborOne Bank acquired Cumberland County Mortgage HarborOne Bank bought Merrimack Mortgage Company Harbourton Mortgage Investment Corporation (HMIC) closed HarVest Bank of Maryland shut by FDIC Harvest Community Bank closed by FDIC Haven Trust Bank shut down by FDIC Haven Trust Bank Florida shut by FDIC HBOS shut Mortgage Business (UK), 325 possible layoffs Heartland Bank shut by FDIC Heartland Mortgage Co. bought Merrlin Mortgage Corp. Heartland Wholesale Funding ceased wholesale lending Heartwell Mortgage closed Heritage Bank shut down by FDIC Heritage Bank of Florida shut by FDIC Heritage Bank of North Florida shut by FDIC Heritage Banking Group shut by FDIC Heritage Community Bank shut down by FDIC Heritage Plaza Mortgage closed HFF Inc. cut 57 jobs High Desert State Bank shut by FDIC Highland Community Bank closed by FDIC High Trust Bank shut by FDIC Hillcrest Bank shut by FDIC Hillcrest Bank Florida shut down HMIC closed HPS Investment Partners acquired Citadel Servicing Corp. Home 123 Mortgage closed HomeBanc Mortgage Corp. layoffs, filed bankruptcy, sold branches to Countrywide Homebridge Financial Services acquired Prospect Mortgage Home Capital Inc. closed Homecomings Financial to cease lending Homecomings Financial laid off 284, including 207 AEs Homecomings Financial cut 60 jobs in Bellevue, WA Home Equity Mortgage Co. placed in temporary receivership Home Equity of America layoffs Home Federal Savings Bank shut by FDIC Homefield Financial closed Homeland Capital Group subprime wholesaler closed Home Loan Center Inc. / Lending Tree hundreds of layoffs nationwide Home Loan Center Inc. / Lending Tree cut 119 jobs in Irvine Home Loan Consultants closes Home Loan Corp. closed Expanded Mortgage Credit subsidiary Home Loan Investment Bank laid off roughly 30 employees Home Loan Services (Merrill servicing arm) for sale Home Loan Specialists Inc. (HLS) closed its doors HomeLight acquired mortgage startup Eave Home National Bank shut by FDIC Home Point Financial acquired wholesale division of Platinum Mortgage Inc. Home Point Financial acquired Maverick Funding Corp. Home Point Financial closed mortgage unit in Charlotte, 54 layoffs Home Point Financial bought Stonegate Mortgage Corp. Home Point Financial acquired mortgage originations and operations of Emery Financial Home Savings of America shut by FDIC HomeStreet Bank sold its stand-alone home loan centers to Homebridge Financial HomeStreet Inc. acquired Simplicity Bancorp Home Valley Bank shut by FDIC Homestead Mortgage will close its wholesale division HomeStreet Bank to close/consolidate 19 home lending centers, cut 127 jobs HomeStreet Bank cut 133 mortgage jobs Hometown Community Bank shut by FDIC Hometown Lenders acquired TotalChoice Mortgage Hometown National Bank (WA) shut by FDIC Homeview Lending Inc. layoffs, now appears to be closed Homeward Residential cut 370 jobs Homeward Residential combined wholesale/correspondent sales divisions Homewide Lending Corp. closed Honor State Bank closed wholesale lending department Horizon Bank shut by FDIC Horizon Bank acquired 1st Mortgage of Indiana, Inc. Housevalues Inc. laid off 160 workers, closed Yakima call center, shut mortgage lead biz Howard Bank (MD) discontinued its mortgage banking business HSBC cut 197 mortgage jobs at its Brandon, FL office HSBC stopped wholesale, correspondent lending HSBC to cut 1100 jobs HSBC Finance laid off 357 workers in Brandon, FL, and 150 in Chicago HSBC Financial Corp. Ltd. (Canada) closing 30 branches, 300 potential layoffs HSBC Holdings PLC closing mortgage office, 600 layoffs HSBC Mortgage cut 80 jobs in NY HSBC Mortgage Services (Correspondent division) closed, layoffs HSBC to shut down HFC, Beneficial HSBC shuts down Decision One HSBC halts trading of mortgage-backed securities in U.S., 120 layoffs HSBC closing 260 consumer lending branches HSBC Mortgage laid off 302 employees in Jacksonville HSBC Mortgage Services cut 48 jobs in Virginia HUD to close some regional offices thanks to budget cuts, 900 employees affected Huntington Bancshares laid off 200 mortgage employees during third quarter Huntington Financial to be acquired by Oxford Funding Huron Valley Financial acquired Home Point Financials reverse mortgage business Hypo Real Estate (Germany) nationalized IBM cut mortgage jobs in Beaverton, OR IBM cut jobs at its Seterus loan servicing unit in Beaverton, OR Icon Residential Lenders, LLC sold to Rushmore Loan Management Services Ideal Federal Savings Bank shut by FDIC Ideal Mortgage Bankers to exit wholesale lending, layoffs Igate Global Solutions (India) redeploying roughly 150 employees into other services IKB Industriebank (Germany) losses near $1bn as a result of subprime exposure in US Impac Mortgage acquired CashCall mortgage operations Impac Mortgage closed 23 retail branches and one fulfillment center, cut 180 jobs Impac Mortgage sold AmeriHome Mortgage Corp. subsidiary Impac Mortgage stops Alt-A lending, 144 laid off Impac Mortgage 350 recent layoffs, halted Alt-A loan production Imperial Capital Bank shut by FDIC Imperial Savings and Loan Association shut by FDIC InBank (IL) shut down by FDIC Independent Bankers Bank shut FDIC Independent National Bank shut by FDIC Indymac sold to private investor group Indymac Federal now OneWest Bank Group Indymac filed bankruptcy Indymac shut down Indymac halts most lending, thousands of layoffs IndyMac layoffs, branch closures Indymac bought retail arm of New York Mortgage Trust IndyMac stopped construction-to-perm lending IndyMac closed Ontario, CA-based operations center IndyMac Commercial Lending Corp. halted lending operations ING cut 2,400 jobs ING to cut 7,000 jobs ING to buy Interhyp AG (largest German residential mortgage broker) ING Direct exited wholesale mortgage business ING Netherlands cut 10 percent of jobs at mortgage unit Innovative Bank shut by FDIC Innovative Mortgage Capital closed Integra Bank National Association shut by FDIC Integrity Bank shut by FDIC Integrity Bank of Alpharetta, Georgia shut down by FDIC InterBay Funding laid off 75 workers Intercontinental Exchange (ICE) purchased Simplifile InterFirst Mortgage shut down in 2017, relaunched in 2020 InterLinc Mortgage Services LLC acquired HomeTown Mortgage Services Inc. Inter Savings Bank shut by FDIC Investaid Corp. suspended operations indefinitely Investors Home Mortgage halted wholesale lending Invitation Homes laid off 51 in Scottsdale, AZ Irwin Home Equity layoffs Irwin Union Bank shut down by FDIC Irwin Union Bank and Trust Co. shut down by FDIC Irwin Union Bank & Trust Co. stopped wholesale lending ISN Bank shut by FDIC Ivanhoe Mortgage closed Ixonia Bank acquired Novus Home Mortgage Jasper Banking Company shut by FDIC Jennings State bank shut down by FDIC J.G.

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