Massive Wall Street layoffs feared as banking profits tank - New York Post Highlands Residential Mortgages corporate headquarters in Allen, texas also had layoffs and staff reductions. BAC - Bank of America Layoffs 2023: What to Know About the Latest BofA Palantir to cut less than 2% of staff as tech layoffs continue 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. Redwood Trust laid off numerous people prior to Thanksgiving including myself. Amazon announced it was laying off over 10,000 employees from its corporate offices and that it would implement a hiring freeze. Asia Martin , Kylie Robison . Along with financial results for the fourth quarter, Goldman Sachs (GS) and Morgan Stanley (MS) each reported Tuesday that thousands of job cuts occurred in the past two months a contrast from rivals JPMorgan Chase (JPM), Citigroup (C), and Bank of America (BAC), whose top executives asserted there were so far no plans eliminate workers. RoundPoint Mortgage, a wholly owned subsidiary of Freedom Mortgage announced to employees on July 28 that they are shutting down their retail operations. Mountain West Financial shut down their wholesale operations on 08/24/22. Your email address will not be published. My guess is theyre cutting the fat and prepping their balance sheet for a sale. RoundPoint is a wholly-owned subsidiary of Freedom Mortgage. The financial startups bubble is bursting and pink slips are being handed out. Academy Mortgage just shut down their Nebraska and New Mexico offices, no warning. Once a solid company that preached they wont lay people off, here we are. But they were told they need to finish out the day because the layoff isnt effective until July 1st. JPMorgan Chase CEO Jamie Dimon said that there is still much uncertainty heading into the new year, particularly with headwinds coming from the war in Ukraine, inflation, and the Feds unprecedented tightening cycle. Finance of America Companies Inc. to discontinue forward mortgage originations via both retail and wholesale channels by the end of the year (10/24/22) Collins Community Credit Union laid off 38 employees in Cedar Rapids, Iowa (10/15/22) Finance of America to shutter wholesale and correspondent lending channels (10/11/22) Banks eye layoffs as short-term crisis ends, long-term costs emerge 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. Finance of America plans more cuts after big losses in Q2 Hello I am trying to find out who acquired Peninsula Mortgage Bankers Corporation In Coral Gables Florida. We feel deeply for the individuals that were impacted by these reductions. Trying to clear up a release of lien on property. Latest USAA employee reduction impacts mortgage unit . Latest Finance of America Holdings Layoffs in USA - 6figr.com They were pretty quiet about it. I was one of those affected. In an interview with Yahoo Finance Live at the World Economic Forum in Davos, Switzerland Tuesday, Bank of America CEO Brian Moynihan, when asked about the prospect of mass layoffs at the bank, firmly said: "There'll be none.". Finance of America Mortgage Is this your company? 21 Things That Can Raise Your Mortgage Rate. How does loanDepot not make the list? Novus Home Mortgage is shutting down branches. The deadline to fund the wholesale pipeline and purchase a non-delegated correspondent pipeline is December 16. But of course the pandemic was radically different with all of the free money that was available. Good luck. The same flexibility hasn't been on display from others on the Street to kick off 2023. 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). ir@financeofamerica.com. This time its including managers in all departments. Neighborhood Loans had a Layoff May 9th, 2022. "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.". Number is unknown. Thank you!! OKTA. After a years-long pause during the pandemic, the big banks are cutting costs and letting go of underperformers. Wall Street sees a wave of layoffs as big banks face pressure to shrink Goldman Sachs Will Reportedly Cut More Than 3,000 JobsAs Major Layoffs Bank staff could shrink by an average of 5-10%, mainly at mid- and lower levels in technology, human resources and finance departments, according to Alan Johnson, head of the compensation . He said that during typical recessions, financing dries up, so the Wall Street firms end up getting hit like everybody else. . Finance of America exiting wholesale, correspondent lending Finance Of America Layoffs - GoLayoffs We have let people go both onshore, in the U.S., and we have a big operation in Manila weve had to reduce staff there as well.. How can I get this lien released? Its tough out there right now, I was just laid off on 3/07, I thankfully was lucky enough to have someone notice me and refer me to another lender. Monthly payroll gains averaged 391,000 across 2022, weekly filings for unemployment insurance have not budged much above 200,000, and on Wednesday, the latest Job Openings and Labor Turnover Survey, or JOLTS, showed a higher-than-expected 10.5 million job openings. CEO James Gorman said during a call with analysts Tuesday following earnings results that the bank took about 1,800 heads in early December.. They are no longer in business now. The 30 year mortgage was obtained in 2003 in Florida Property. White-collar layoffs soar amid worries about economic slowdown They will be merging with Union Home Mortgage. This year they have had over 500 layoffs throughout the country. I dont see it on the list but on July 8th, 2022 Sprout Mortgage closed it doors and laid the entire company off. Save my name, email, and website in this browser for the next time I comment. The company is now partially reversing those hires as investment banking revenues have dropped. Required fields are marked *. Trying to find who acquired ICA acquired by American Residential Mortgage Company around Pa. Sierra Pacific Mortgage actually closed the branches they opened in CO after 5 months. Finance of America Reverse (FAR) provides HECMs, HECMs for Purchase, jumbo loans and refinancing reverse mortgages for homeowners aged 55 and up (for certain HomeSafe products only, excluding. About Us - Finance of America Companies Need a copy of the payment that was used to pay off a Mortgage for my parents home in 1995. I can confirm Supreme Lending let go at least 300 people. Many of the tech firms that lobbied for more temporary visas for high-skilled immigrants are now firing these workers, leaving them with 60 days to find a new job or leave the country. I was a very long term employee. In. I had a mortgage loan with a company called AMC Mortgage Services in Santa Ana, CA. The U.S. job market has been remarkably strong, even in the face of other economic head winds. FAR However, the company offered severance payments based on tenure and job position. Your email address will not be published. The e-commerce giant first said in November that about 10,000 jobs would be axed. This list gives us a perspective to get out of the mortgage industry and pivot to some else. For instance, Tesla reportedly implemented a hiring freeze last month and will be conducting a round of layoffs next quarter. The company reported a loss of $168 million. They have laid off 80% of their staff in the last few months. Citibank layoffs August 3rd 2022. Same reason as everyone else rates and lower demand. Just got my severance package. HSBC Confirms up to 4,700 Layoffs London-based HSBC, which is the seventh largest bank in the world, is ready to discharge up to 4,700 employees this year, the financial institution confirmed recently. Management did not elaborate on criteria used to determine who would be affected. Bank of America Plans Job Cuts in Its Investment Bank A Long List of Mortgage Layoffs, Mergers, and Closures Rumor is they closed mutiple locations. The Truth About Mortgage. Even better, didnt even take the time to look anyone in the eye, a thank you, handshake, or apology. The employees have received notice not to come to work. Bank of America layoffs not in the cards for chief Brian Moynihanhe'll They did a round of layoffs this year. The company ranked no. Prospect Mortgage acquired Indymac branches PSM Holdings, Inc. acquired Brookside Mortgage LLC Public Savings Bank shut by FDIC Pulte Homes 2,000 layoffs Pulte Mortgage layoffs Pulte Mortgage shutting Charlotte processing center, nearly 90 layoffs Putnam State Bank shut by FDIC Quality Home Loans filed for bankruptcy, sold to hedge fund manager Michael Klein Quick Loan Funding layoffs, now reported closed Quicken Loans suspended new hiring during the crisis Quicken Loans layoffs (250 jobs cut in 2008) Quicken Loans subsidiary In-House Realty purchased OpenHouse Realty Quicken and RockBridge acquired One Reverse Mortgage QuoteMeARate.com Inc. closed QHL Holdings Fund Ten LLC filed for bankruptcy R-G Premier Bank of Puerto Rico shut by FDIC Radian (mortgage insurer) cut 7% of its workforce Radian Group bought Clayton Holdings Rainier Pacific Bank shut by FDIC Randolph Savings Bank cut 16 mortgage employees (8% of staff) RAMS Home Loans (Australia) warned of profit losses after only two weeks on stock market Randolph Savings Bank acquired First Eastern Mortgage Ravenswood Bank shut by FDIC Reali acquired online direct mortgage lender Lenda Realty Mortgage shut down, 300+ layoffs Redfin cut workforce by approximately 7% Regions Bank acquired EnerBank USA Regions Financial Corp. sold wholesale lending division to M&T Mortgage Corporation Regions Financial Corp. exited correspondent lending channel Regions Financial Corp. closed warehouse lending unit Regions Financial Corp. shut Little Rock mortgage servicing facility Renasant Bank acquired FirstBanks wholesale mortgage division Renasant Corp. acquired Brand Group Holdings Renasant Corporation and First M&F Corporation merged Renovate America, Inc. laid off 71 in San Diego, CA Republic Federal Bank shut by FDIC Republic First Bancorp acquired Oak Mortgage Company ResiCentral Mortgage acquired One American Mortgage Residential Capital LLC filed for bankruptcy ResCap halts Dutch mortgage lending ResCap bankruptcy fears ResCap layoffs ResCap closed offices, cut 470 jobs Residential Capital LLC cutting roughly 1,000 jobs (GMAC company) Residential Finance of Columbus Ohio reportedly hacked 19 branches yesterday and a regional manager, per reader tip ResMae Mortgage Corp. cut 182 jobs in Brea ResMae Mortgage Corp. layoffs, bankrupt/for sale, closing Dallas facility ResMae Mortgage Corp. halted loan submission, cut over 150 jobs Residential Credit Solutions closed Fort Worth facility, 134 layoffs Residential Finance Corp. branch closures, layoffs, per Inside Mortgage Finance Residential Mortgage Capital suspends operations Residential Wholesale Mortgage, Inc. acquires Government Loan Center Resolute Bank shut by FDIC Resource Bank selling mortgage-related assets to Monarch Bank Resource Mortgage shuttered wholesale division Retreat Capital Management, Inc. cut 73 jobs in Dallas Reunion Mortgage shut wholesale office in Florida Reverse Mortgage Solutions Inc. closed office in Charlotte, 79 layoffs RFC layoffs Right Away Mortgage closed River City Mortgage to sell itself to Wintrust Financial Corp Riverside Bank of the Gulf Coast shut down by FDIC Riverside National Bank of Florida shut by FDIC Riverview Community bank shut down RockBridge Commercial Bank shut by FDIC Rock Holdings acquired majority stake in Lendesk Rock River Bank shut by FDIC Rooftop Mortgages (Bear Stearns UK mortgage unit) to close Rose Mortgage Corp. closed Rosemount National Bank shut by FDIC RoundPoint Mortgage cut 68 jobs in Rockville, Maryland RoundPoint Mortgage laid off 166 employees in Charlotte Royal Bank of Scotland laid off 24 employees in Stamford, CT Royal Bank of Scotland exited U.S. mortgage trading business, layoffs Royal Bank of Scotland cut about 300 jobs in mortgage trading business RPM Mortgage acquired Regency Mortgage Corp. Ruoff Financial (parent of Ruoff Home Mortgage) bought SBB Bancshares San Diego National Bank shut down San Joaquin Bank shut down San Luis Trust, FSB shut by FDIC Sanderson State Bank shut down by FDIC Santa Cruz Mortgage suspended operations indefinitely Santander Bank exited third-party mortgage business, 66 layoffs in Villanova, PA Satilla Community Bank shut by FDIC Saxon Mortgage wholesale closed, 1000 layoffs Saxon layoffs, closed correspondent unit Saxon Mortgage closed two loan servicing facilities in Texas, cut 680 jobs Saxon Mortgage Services cut 50 jobs in Texas SCB Bank shut by FDIC SCME ceases wholesale operations SCME Mortgage Bankers Inc. layoffs, branch closures Scottish RE large subprime exposure drops stock into dangerzone Sea Breeze Financial Services, Inc. Irvine, CA lender apparently closed Seaway Bank and Trust Company shut by FDIC Sebring Capital Partners closed Second Federal Savings and Loan Association of Chicago shut by FDIC Secured Bankers Mortgage Company halted operations Secured Funding closed Security Bank Corp. has six Georgia banks shut down by FDIC Security Bank, National Association shut down by FDIC Security Exchange Bank shut by FDIC Security National Servicing Corp. to cut 31 jobs Security Pacific Bank shut down by FDIC Security One Lending acquired OMNI Reverse Security Savings Bank shut down by FDIC Security Savings Bank, F.S.B. Terms of Service. Keep your eyes open and share with others who are in need of a job. Similar to this section, but more automated. The Buckhead Community Bank shut by FDIC The Community Bank shut down by the FDIC The Communitys Bank (Connecticut) shut by FDIC The Cowlitz Bank shut by FDIC The Farmers and Merchants State Bank of Argonia (KS) closed by FDIC The Farmers Bank of Lynchburg shut by FDIC The Federal Home Loan Bank of Seattle cut 109 employees The First National Bank of Barnesville shut by FDIC The First National Bank of Olathe shut by FDIC The First State Bank shut by FDIC The Freedom State Bank closed by the FDIC The Gordon Bank shut by FDIC The La Coste National Bank shut by FDIC The Lending Connection believed to have laid off staff and ceased operations The Members Own Federal Credit Union shut down The Money Source cut 60 mortgage jobs The Money Store will take over Amstar Mortgage branches The Mortgage Lender (UK) cut hundreds of jobs, may cease lending The Mortgage Store Financial Inc. rumored to have ceased lending, laid off most of staff The Mortgage Warehouse closed The National Republic Bank of Chicago shut by the FDIC The Park Avenue Bank shut by FDIC The Peoples Bank shut by FDIC The RiverBank shut by FDIC The Royal Palm Bank of Florida shut by FDIC The Tattnall Bank shut by FDIC The Woodbury Banking Company shut by the FDIC Thoma Bravo bought Ellie Mae, layoffs Thornburg Mortgage filed bankruptcy Thornburg Mortgage bankrupt, 100+ layoffs Thunder Bank shut by FDIC TIAA Bank stopped retail branch mortgage lending, sold some branches to U.S. Bank TIAA acquired EverBank TierOne closed all nine loan production offices TierOne Bank shut by FDIC Tifton Banking Company shut by FDIC Title365 cut 70 jobs in Palm Bay, FL Town Community Bank & Trust shut by FDIC Towne Bank of Arizona shut by FDIC TransLand Financial Services facing involuntary Ch. My mortgage is with PNC, who bought Round point Mortgages. I would be greatly appreciative if anyone could assist me with current contact numbers for: AMC, TRANSNATIONAL FINANCIAL NETWORK or the institution that they were sold to. Mortgage lenders are being hit hard by rising. Tech sector layoffs leave H1B visa holders, many from India, at risk of I assume more to come as there is no loans to purchase. On February the 18th 2022 American Pacific Mortgage had a layoff rumor has It of 226 employees. There are more mortgage jobs out there, it might not be what you prefer, but at least you can keep your foot in the door and move up again. By Maria Volkova. But then when you meet the set goal, they still remove you from your position and force you into an hourly role, taking future commissions (since they pay on closings) and giving them to random bankers or you can be terminated. Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. 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. Layoffs are sweeping Corporate America to kick off 2023 After Guaranteed Rate walked away from negotiations to acquire FoAs forward mortgage retail channel earlier this month, the company was rumored to be closing the division. Pretty much just a skeleton crew left. All rights reserved. Largest Layoffs of 2022 I was directed to Transnational Financial Network. They cut a larger portion of people in June. Guaranteed Rate is laying off again and it will be 300 or more. The boom times are over in banking, and big layoffs are back on Wall Street. Your email address will not be published. JPMorgan, BofA cautious on job cuts as Goldman layoffs loom 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. Our baseline scenario contemplates a mild recession. Palantir Technologies Inc. plans to cut less than 2% of its workforce in the latest round of technology layoffs. Need a copy of a payoff statement. "You know, I tend not to stop growing because you have a recession," he said. JPMorgan, Bank of America, and. While Goldman Sachs, Morgan Stanley and others downsized, JPMorgan and Bank of America upsized. Amazon (AMZN) CEO Andy Jassy said late Wednesday the company would cut "just over 18,000 roles," a higher reduction than initially planned. Note that the entries lower down could be several years old since this list dates back to 2007. Original mortgage with Advent filed 8/8/2007. FoA may exit the retail channel if it fails to sell the business, a source with direct knowledge of the negotiations said. Required fields are marked *. Bank of America is projecting that the US economy will lose over 500,000 jobs in 2023. On Aug 4, 2022 loandepot began their layoffs, not sure why PRMG is not included on your list of recent layoffs they did layoff several people- staff that has been there over 10 years. Ruoff Home Mortgage laid off 60+ people at corporate HQ in Fort Wayne, Indiana on May 11, 2022. In an effort to reduce overhead, Kalamazoo MI based AmeriFirst Home Mortgage terminated approximately 45 people. "I've been thinking a lot about how we came to this moment," Benioff wrote. Last week, BlackRock (BLK), the world's largest asset manager, said it will lay off about 500 employees or roughly 3% of its workforce. KEY TAKEAWAYS U.S. Bank cut approximately 500 MUFG mortgage jobs. As layoffs ripple across Wall Street, some banks stay in 'hiring mode' Finance of America Posts Nearly $1.4B Loss Due To Accounting Change Christine Stuart Mar 04, 2022 A 53% increase in Specialty Finance and Services (SF&S) segments revenue almost entirely offset the decline in mortgage revenue similarly experienced by the broader market. I need to order a payoff. Jan 2023. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Given how high inflation is right now, why arent mortgage rates even higher? In the rapid-fire, volatile mortgage marketplace, lenders need technologies to help them remain nimble and successfully navigate constant change. Prospect Mortgage buying Fidelity Trust Mortgage Inc. Finance of America Plans To Sell Retail Unit, Close Forward Wholesale How do the non qualified loans companies still stay in business? 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. According to data tracker layoffs.fyi, tech companies have collectively laid off 153,678 workers last year. Lendus formerly Rpm that had to pay a huge fine of 20mm to the cfpb finally folded. 312 reviews from Finance of America employees about Finance of America culture, salaries, benefits, work-life balance, management, job security, and more. 7 hospitals laying off workers - Becker's Hospital Review The Texas-based company is adapting to "members' needs and changes in the marketplace," which resulted in a scale down in some divisions, a spokesman said. 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. Jassy's remarks echoed ones from Salesforce CEO Marc Benioff, who said in an email to staff on Wednesday the decision resulted from an environment that remains challenging and more measured spending by customers. The company also has ended discussions to sell its retail mortgage division to Guaranteed Rate, according to a former company official.. Is Rushmore a good company and did Beneficial merge with this company? Finance of America Mortgage announces shutdown - HousingWire Finance of America Companies Inc. 5830 Granite Parkway Suite 400 Plano, TX 75024 . 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.