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. What can I do to have this removed from title when the company no longer exists? Reverse volume reached $1.58 billion in the second quarter, a 7% increase compared to the first quarter, and up 56% compared to the second quarter of 2021. My guess is theyre cutting the fat and prepping their balance sheet for a sale. Seniority, nor tenure, nor high quality Underwriting pass rate, nor meeting production goals secured ones employment. Totally true about Situs, I witnessed it while the person was going through this, not a good way to lay off, dont you think? Guaranteed Rate has also been laying off in the affiliate companies including Affinity and OriginPoint. Goldman Sachs, Wall Streets premier investment bank, delivered the biggest headcount reductions in the financial industry this cycle and its largest bout of layoffs in a decade as the company grappled with a nearly 70% drop in profit in the fourth quarter. Strong Home Mortgage just laid off 25% of their operations 04/13/22. Unfortunately 1st Nationwide Mortgage closed down, and I have no contact with them due to their phones being shut down. The company reduced its workforce, taking out roughly 35% in costs on a run rate basis, equating to over $100 million annualized. Just a comment; Ive been in the mortgage industry just under 30 years. Do you know anyone who might know anything to help us get this resolved? They cut a larger portion of people in June. Strong Home Mortgage, a preferred and participating Costco lender, just laid off 25% of their production staff yesterday (4/7/22) which was 30 loan officers nationwide. Good luck. Any news about the amount/locations/departments of Penfed employees laid off? He said that during typical recessions, financing dries up, so the Wall Street firms end up getting hit like everybody else. All AFTER they received an influx of capital in the $175m range to better their proprietary LOS software; it didnt help!!! NASB Home Loans just laid off about 37 of their 90 loan consultants and around 40 operations staff on November 3rd, 2022. With the shutdown of its forward mortgage company, FoA expects to save between $110 million and $120 million annually. Jassy's message came the same day Salesforce (CRM) said it would slash 10% of its workforce while Vimeo (VMEO) cut headcount by 11% in its second wave of reductions. TheLayoff.com (current) Latest Posts . The Labor Department will publish its jobs report for December at 8:30 a.m. According to laid-off employees, the layoffs occurred on Thursday morning and were unexpected, with no warning and immediate termination of access to company systems and emails. Last 2 weeks another 100 employees lay-off. Below are five of the largest U.S. investment banking layoffs in 2022: In Wells Fargo's 3Q22 Quarterly Supplement, the multinational financial services company said that its total headcount had. How do I clear up a lien with a company that no longer exists? As the volume goes down, the number of people you need goes down. All the searching I have done shows that they closed in 2005. Business | Economy | Job News: US Postal Services plans to buy 9,250 EV Ford Delivery Vehicles . Alexandra Semenova. Despite these layoffs, Amdocs has stated that it is continuing to recruit for numerous positions. Cross Country Mortgage layoffs in August, September and October. Staying nimble in a fast-paced market with the right mortgage technology. SitusAMC just laid off at least all senior QC Underwriters. Sickening. From reverse mortgages to commercial loans, home improvement financing and lender services, we deliver a positive customer experience and do business with a personal touch. The results on Nov. 4 led to a 21% decline in the company's stock, compared to $7.82 per share on the first day of 2022. My mortgage is with Wells Fargo and they are trying to sort this out but time is the critical factor. FGMC/GOODMORTGAGE based out of Plano, TX laid off 36 retail employees with a 15 minute notice and a pre-recorded call with a generous 1 week severance, didnt even matter if you gave years or months of service. The e-commerce giant first said in November that about 10,000 jobs would be axed. Cook stepped down as CEO on June 30 due to an existing medical condition. Academy mortgage just did some layoffs this week. NewDay USA offered severances of 1-mo and laid off a few dozen, Saw on linkedin from several contacts that Keller Mortgage had a pretty big layoff. FoA cut roughly 600 jobs between March 2021 and March 2022. 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. We've reduced we took a severance charge, which affected some of the efficiency ratio for this year, but will improve it for next year, Gorman said. Trying to clear up a release of lien on property with original note maker Commodore, Matrix released the lien and recorded it but Title company needs to establish the relationship between Matrix & Commodore. Finance firms also hinted at the shifting economic landscape as year-end earnings reports were made public on Friday morning. The power of data with Mike Simonsen at Gathering of Eagles, Eric Lapin on how consumer-controlled data can change lending, Clear Capital launches UDC to support appraisal modernization. Flagstar Bank makes big cuts to mortgage operation Michigan-based Flagstar Bank is reducing its retail operations and laying off hundreds of staff after receiving approval for a merger with New York Community Bank. This week's news suggests executive. The central banks rate target is now 4.25% to 4.5%, the highest it has been since before the financial crisis in 2008. Well, after seven layoffs, the hammer hit. For instance, Tesla reportedly implemented a hiring freeze last month and will be conducting a round of layoffs next quarter. All rights reserved. Finance of America Holdings. But they were told they need to finish out the day because the layoff isnt effective until July 1st. Lead Analyst Logan Mohtashami explains. The bank expects the unemployment rate to reach 5.5%. 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.". I was laidoff off on March shortly after a Processing Manager and her entire team. Some of these are extremely old, would really be good if you could start including the date you posted it for reference purposes. For additional information, please see https://ir.financeofamerica.com/news-events/press-releases Important Dates for Applicants: The Last day to submit applications is October 25, 2022. There is a 1stnwm but its not the same one..anybody have a good contact number? I first created this list of mortgage layoffs and closures in February 2007. Caliber has been laying off in small groups all year. Co. never reconveyed the title or released the lien it is showing on title = am in the process of selling but Washtenaw went out of business in 2005 no phone #s or emails are any good. RoundPoint is a wholly-owned subsidiary of Freedom Mortgage. Anyone?? In an effort to reduce overhead, Kalamazoo MI based AmeriFirst Home Mortgage terminated approximately 45 people. Received a notice from our current servicer, Nationstar Mortgage LLC that they sold/transferred or assigned their servicer rights to Rushmore Loan Management Services LLC as of 6/1/16. U.S. Bank cut approximately 500 MUFG mortgage jobs. Alexandra Semenova is a reporter for Yahoo Finance. I can see the value of keeping those posted but a date is incredibly important. Those cuts are expected to begin in coming. Keep your eyes open and share with others who are in need of a job. Confirmed by friends that worked there :( I know Loan Depot has done several rounds of layoffs, Nations Lending Corporation did company wide round of layoffs 5/19/2022. A monthly Bloomberg survey of economists found that there is about a 70% chance of a recession, more than double what was predicted six months ago. I worked at Caliber Home Loans which was acquired by New Residential this year (New Rez) and was laid off with no 60-day notice. Site by, The new, must-have technology thats tackling lendings greatest challenges. Even as U.S. tech workers face layoffs, data continues to show labor conditions remain ultra tight. This has been under the radar and nothing in the news about it. 20 years in the business overall. Its all public information, usually from WARN notices or other financial disclosures. I exceed the goal of the opportunity letter and was told it didnt really matter and that was all the explanation I got while having to hand off over $15k in commissions for the next month. Jun 14, 2018 Mortgage lender Finance of America plans to lay off 43 employees at its Roseville office, according to a notice filed with the California American Financing Corp. in Aurora lays off an undisclosed Higher mortgage rates dim the outlook for lenders focused on refinancing loans Probably has something to do with their now-former corrupt CEO kissing *** on Fox Business whenever he has the chance. 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. Through this platform we offer products and services that meet customers' financial . The Money Source (TMS) not only sold out to Amerisave, but laid off 50+ without warning. Bank of America Corp. is reportedly planning to lay off up to 200 investment bankers globally, Bloomberg News reported on Thursday, citing sources. Although the layoffs were unusually large this year, they are an ever-lurking prospect for people who work in finance. They are no longer in business now. They also laid off bunch of people from Stearns, who they just bought last year. 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. I was one of those affected. See nothing about Amerifirst Home Loan out of Kalamazoo, Michigan. The comment section is very helpful. Putting people on opportunity letter giving them an opportunity to stay in production based role if you meet a set goal. Your email address will not be published. Like many competitors, FoAs traditional mortgage business has been affected by higher mortgage rates. (The company is expected to report second-quarter earnings on Thursday.). Similar to this section, but more automated. Santander Bank just announced today that they are closing their entire home loans and HELOC divisions and will stop taking applications February 11th. Of the aggregate pre-tax charges of about $145 million to $164 million, the lender estimates about $12 million to $18 million will consist of employee severance, retention and related benefits. I cannot recall who bought Round point in 2006-2007. Not sure why. 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. Guaranteed rate laid off underwriters and closers last week, October 7, 2022. In. It was a toxic combination of sky-high home prices at the time of origination, zero down payments, rising mortgage rates, terrible underwriting, rampant fraud, a deteriorating secondary market, and unmanageable mortgage payments. Allison V. Smith. Rocket has a plan to drastically cut costs. 1 week severance. Who bought Chapel Mortgage, New Jersey? 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. Your email address will not be published. When I started, we probably saw 1,200 tickets a week, and now its between 500 and 600 so, you dont need the same number of people to support employees.. I have 23 years in the mortgage fulfillment industry and that didnt save me from the layoff ax. Guaranteed Rate has had several layoffs this year. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on SMS (Opens in new window). Some firms across the financial industry are giving workers the boot after dealmaking activity tumbled last year and as a potential recession looms. 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. LoanDepot estimates theyll lay off 2,000 people by the end of 2022. Advent loan was never released. Compare pay for popular roles and read about the team's work-life balance. Finance of America Companies Inc. 5830 Granite Parkway Suite 400 Plano, TX 75024 . Includes a branch closure. . Interfirst Mortgage Co. did layoffs in Nov. 2021, March 2022 and May 2022. Inflation is high, so why arent mortgage rates higher? Novus Home Mortgage is shutting down branches. SAN JOSE, Calif., March 02, 2023 -- ( BUSINESS WIRE )--This year, Fast Company named Roku, Inc. (NASDAQ: ROKU) one of the top 10 most innovative companies in North America, for the brand's . The loss was a swing from a $127 million profit in the same period of 2021. Hey Colin, Im not sure why you wont post about Amerifirst Financial Corporation? 21 Things That Can Raise Your Mortgage Rate. 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. What Credit Score Do You Need to Get a Mortgage? No class. Smythe explained that in addition to storm clouds on the horizon for the economy, jobs at tech companies and now finance firms are also being hit by the lingering fallout of the pandemic, which began nearly three years ago. While finance and tech firms are beginning to start seeing layoffs, many other parts of the labor market are chugging right along despite the rate increases. Finance of America Mortgage was owned by Blackstone but went public via a $1.9 billion SPAC deal in 2021. We provide the first and only end-to-end vertically integrated platform in the lending business. FYI-I was laid off from Nova Home Loans out of Tucson AZ. Where is Sun West Mortgage on this list???? Bank of America is projecting that the US economy will lose over 500,000 jobs in 2023. Also this week, the worlds largest money manager BlackRock, culled about 500 of its workers from its payroll. Many U.S. hospitals are turning to layoffs to cut costs as they recover from the financial hit of the COVID-19 . They have laid off 80% of their staff in the last few months. Frequently asked questions . Investor Relations. In the United States, more than 90,000 workers in the tech sector were laid off in 2022, according to tracking by Crunchbase News. 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. 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) Finance of America Mortgage was owned by Blackstone but went public via a $1.9 billion SPAC deal in 2021. It makes you wonder what these companies were doing to invest their money in sound investments. The company declined to comment on whether Finance of America found another buyer for the retail branches. Im looking to source an authorized signer for Downeast Mortgage Corporation that operated out of South Portland, Maine.. Any leads would be greatly appreciated. But now that the country is out of a zero-rate environment and facing the likelihood of a recession, finance firms and tech companies who bulked up during the easy-money period are being forced to offload staff, a trend that is only expected to accelerate as 2023 ticks by and current employment levels become untenable. I dont see it on the list but on July 8th, 2022 Sprout Mortgage closed it doors and laid the entire company off. Discover Home Loans shuts down Ditech sold reverse mortgage business to Mortgage Assets Management, LLC Ditech closed St. Paul office, let go of 210 employees Ditech closed Rapid City, SD call center, cut 450 jobs Ditech cut 79 jobs as it closes Kennesaw, Georgia facility Ditech exited retail channel, ~200 layoffs Ditech closed San Antonio office, 78 layoffs Ditech cut 103 jobs in St. Louis area Ditech closed Irving, TX office and laid off 437 employees Ditech 181 layoffs Ditech cut 120 jobs at Costa Mesa, CA headquarters Dollar Mortgage Corp. being acquired by Shearson Financial Network Domestic Bank shutting down wholesale unit Doral Bank En Espanol shut by FDIC Douglas County Bank shut by FDIC Dover Mortgage Company shutting wholesale mortgage division Dover Mortgage Co. cut 17 employees Downeast Mortgage Corp. 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 DuPage National Bank closed by FDIC Dwelling House Savings and Loan Association shut by FDIC eBank 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 Eastside Commercial Bank shut by FDIC Edgebrook Bank shut by FDIC Edgewater Lending Group halts wholesale lending Edward Jones Mortgage shut down, 200+ possible layoffs Egg Mortgages (Citi-owned UK finance unit) no longer accepting applications Elizabeth State Bank shut by FDIC Ellie Mae acquired AllRegs Ellie Mae acquired MortgageCEO Empire Bancorp Mortgage Bankers shut down Encore Bank laid off 300 employees ECC Capital/Encore Credit sold to Bear Stearns, 100 layoffs announced Aug. 17 Encore Credit laid off 100 Account Executives at wholesale unit in Irvine, CA Encore Credit merging with Bear Stearns Residential Mortgage Enterprise Financial Services bought Gorman & Gorman Home Loans Entrust Mortgage closed Equibanc closed by Wachovia Equifirst shutting down Equifirst layoffs, bought out by Barclays Bank PLC EquiFirst cut 64 jobs in Arizona Equipoint halted wholesale lending, shut 70+ branches Equitable Mortgage merged into Flat Branch Home Loans Equitable Reverse Mortgage closed doors Equitable Trust Mortgage Corp. suspended by FHA Equity One (a unit of Popular Inc.) cut 147 jobs in Marlton, NJ Equity Title (owned by Coldwell Banker) layoffs Eurobank shut by FDIC Evansville Teachers FCU acquired First Liberty Financial Mortgage EverBank laid off 302 employees in Jacksonville EverBank Financial ceased wholesale lending, closed three operations centers in Dallas, Jacksonville, and Sacramento while cutting 150 jobs Evergreen Bank shut by FDIC Evergreen State Bank shut by FDIC Excel Bank shut by FDIC Exchange Financial temporarily discontinuing its Wholesale/Correspondent business eXp Realty reduced headcount by approximately 15% Expanded Mortgage Credit closed wholesale Express Capital Lending not accepting new submissions until further notice Family First Mortgage Corp. ceases operations, layoffs Fannie Mae 200 layoffs Fannie Mae consolidated three Dallas offices, possible layoffs Fannie Mae and Freddie Mac bailed out Farmers and Traders State Bank shut by FDIC Fayette County Bank shuttered by FDIC FBR Capital Markets cut 75 jobs FBR selling subprime unit Federal Home Loan Bank of Seattle merged with the Federal Home Loan Bank of Des Moines Federal Savings Bank acquired Baytree National Bank & Trust Fenway Summer merged with Ethos Lending Fidelity Bank shut by FDIC Fidelity Homestead Savings Bank purchased NOLA Lending Group LLC Fidelity National Financial to buy LandAmerica (large title companies) Fidelity National Financial terminated LandAmerica merger Fidelity National Information Services cut 35 jobs in Jacksonville Fidelity Trust Bank selling residential mortgage company Fidelity Trust Mortgage Inc. Fieldstone Mortgage bankruptcy Fieldstone Mortgage Co. halted new business, closed Las Vegas branch, layoffs Fifth Third Bank closed 44 Chicago-area branches Fifth Third Bank ceased wholesale mortgage lending Fifth Third Bank wholesale mortgage layoffs in Charlotte, NC as refinance demand wanes Fifth Third Bank 700 layoffs Fifth Third to discontinue Alt-A lending Finance America closed Finance of America acquired wholesale lending assets of Parkside Lending LLC Finance of America closed Roseville, CA office, 33 layoffs Finance of America Mortgage acquired Skyline Home Loans Financial Freedom cut 65 jobs in Irvine, CA office Financial Title Company closing, layoffs Firstar Bank acquired assets of Leader Mortgage First Advantage acquired CredStar First American Bank to cease wholesale lending First American Corp. (title insurer) layoffs at 1,900 First American Financial purchased Interthinx First American Title Insurance cut 116 jobs in Santa Ana, CA First Arizona Savings shut by FDIC FirstBank acquired Franklin Synergy Bank FirstBank sold correspondent lending unit to Rushmore Loan Management Services LLC FirstBank purchased wholesale mortgage division of StellarOne Corp. FirstBank to shut down wholesale mortgage division Oct. 31 FirstBank Financial Services shut down by FDIC FirstCity Bank shut down by FDIC FirstLine Mortgages (Canadas largest mortgage broker) stopped mortgage lending First Bancshares acquired The Mortgage Connection, LLC First BankAmericano shut by FDIC First Bank of Beverly Hills shut down by FDIC First Bank of Idaho shut down by FDIC First Bank of Jacksonville shut by FDIC First Bank of Kansas City shut down by FDIC First Banking Center shut by FDIC First Banks of St. Louis bought Coast Bank First California Mortgage Company shut down, layoffs First Capital Bank shut by FDIC First Centennial Bank shut down by FDIC First Cherokee State Bank shut by FDIC First Choice Bank shut by FDIC First Choice Community Bank shut by FDIC First Choice Loan Services, Inc. ceased operations, for sale First Collateral Services (Citi) 126 layoffs First Collateral Services (Citi) cut 150 jobs First Commerce Community Bank shut by FDIC First Commercial Bank shut by FDIC First Commercial Bank of Florida shut by FDIC First Commercial Bank of Tampa Bay shut by FDIC First Community Bancorp layoffs First Community Bank shut by FDIC First Community Bank of Southwest Florida (Community Bank of Cape Coral) shut by FDIC First Community Mortgage (FCM) acquired a Mortgage Boutique (AMB) First CornerStone Bank shut by FDIC FirsTier Bank shut by FDIC First Consolidated Mortgage Co. subprime wholesaler shutting down, in dispute First Coweta Bank shut down by FDIC First Direct Lending stopped accepting applications First DuPage Bank shut down First East Side Savings Bank shut by FDIC First Federal Bank shut by FDIC First Federal Bank of California halted wholesale lending First Federal Bank of California shut by FDIC First Federal Bank of North Florida shut by FDIC First Fidelity Financial closed its doors First Financial Bank buy 4Trust Mortgage First Franklin to be shut down, 650 layoffs First Franklin Financial layoffs, sold to Merrill Lynch First Franklin firings/layoffs rumored First Georgia Banking Company shut by FDIC First Georgia Community Bank shut down by FDIC First Guaranty Bank and Trust Company of Jacksonville shut by FDIC First Guaranty Mortgage Corp. acquired goodmortgage.com First Guaranty Mortgage Corp. cut 82 jobs in Frederick, MD First Heritage Bank shut by FDIC First Horizon shut down mortgage operations First Horizon cutting 1,500 jobs, closing 50 offices First Horizon National Corp. divested its subprime mortgage loan portfolio First Horizon discontinued national construction and commercial lending, 160 layoffs First Horizon to sell or shut down mortgage unit First Indiana Wholesale closed wholesale consumer lending operations First Integrity Bank shut down by FDIC First International Bank shut by the FDIC First Lowndes Bank shut by FDIC First National Bank of Crestview shut by FDIC First National Bank (Rosedale, MS) shut by FDIC First Madison Mortgage shut down First Magnus no longer funding or originating any mortgage loans First Mortgage Corp. shut down, Freedom Mortgage to acquire select assets/employees First National Bank shut by FDIC First National Bank of Arizona halts retail mortgage lending, 35 layoffs First National Bank of Danville shut by FDIC First National Bank of Davis shut down by FDIC First National Bank of Florida shut by FDIC First National Bank of Georgia shut by FDIC First National Bank of the South halts wholesale lending First National Bank of the South shut by FDIC First National Mortgage Sources shut down First NLC bankrupt, halts lending First NLC Financial Services LLC 645 layoffs First Mariner Bancorp closed its wholesale mortgage lending unit First National Bank (also operating as The National Bank of El Paso En Espanol) closed by FDIC First National Bank of Anthony shut by FDIC First National Bank of Arizona shut down by FDIC First National Bank of Central Florida shut by FDIC First NBC Bank shut by FDIC First Niagara Financial Group, Inc. closed mortgage processing office in Syracuse, 14 layoffs First PacTrust Bancorp, Inc. acquired Gateway Bancorp First Peoples Bank shut by FDIC First Piedmont Bank shut by FDIC First Priority Bank closed by FDIC First Regional Bank shut by FDIC First Security Loan Corp. to shut down First Security National Bank shut by FDIC First Source Funding Group closed First Southern Bank shut by FDIC First Southern National Bank shut by FDIC First State Bank shut by FDIC First State Bank (AZ) shut down by FDIC First State Bank (Sarasota) shut by FDIC First State Bank of Altus shut by FDIC First State Bank of Winchester shut by FDIC First Street Financial closed First Suburban National Bank shut by FDIC First United Bank shut by FDIC First Vietnamese American Bank shut by FDIC Fitch Ratings to cut 150 jobs Flagship National Bank shut down Flagstar Bank acquired 52 Wells Fargo bank branches Flagstar Bank acquired certain assets of Opes Advisors Inc. Flagstar Bank cut roughly 600 jobs thanks to slowing mortgage business Flagstar Bank layoffs total 300 in Troy, MI due to outsourcing Flexpoint Funding reportedly closed wholesale division, now completely shut down Flick Mortgage closed FMF Capital LLC closed Florida Community Bank shut by FDIC FNBA wholesale division and correspondent line shut down, 541 layoffs Fort Lee Federal Savings Bank, FSB shut by FDIC Fortes Financial halted lending Fortes Financial acquired five former National City regional wholesale offices Founders Bank shut by FDIC Foxtons, Inc. filed Chapter 11 bankruptcy Franklin American suspends jumbo wholesale lending Franklin Bank shut down by FDIC Franklin Bank Corp. closing warehouse line, layoffs Franklin Credit Management Corp. suspends loan acquisition and origination Franklin First Financial shut down Freddie Mac cut 100+ jobs Freedom Bank shut down by FDIC Freedom Bank of Georgia shut down by FDIC Freedom Financial shutting down Freedom Mortgage Corp. acquired J.G.