finance of america layoffs

The former CEO said these were steps to optimize the companys businesses amid the current environment. The e-commerce giant first said in November that about 10,000 jobs would be axed. We help move your dreams forward through our Customer First, Last and Always approach and wide variety of lending options. This year's layoff announcements come as U.S. companies grapple with inflation, higher interest rates, and a deteriorating economic environment that has prompted both needed and precautionary cost-cutting especially after many over-hired during the post-pandemic boom in 2021. Wentworth Company acquired WestStar Mortgage, Inc. John Warner Bank shut by FDIC JPMorgan Chase will cut 13,000 to 15,000 mortgage jobs by year-end 2014 JPMorgan Chase cut 839 temporary employees after foreclosure review overhaul JP Morgan Chase layoffs reported in loan structuring group, CMBS group , and UW group K Bank shut by FDIC KBC Bank NV (Belgium) bought Vertical Lend Kensington Mortgages (UK) temporarily withdrawing from the mortgage market Kensington Mortgages (UK) cut 20 percent of staff Kensington Mortgages (UK) cut 75 jobs KeyBank acquired Laurel Road Banks digital lending business KeyBank Real Estate Capital halted lending KeyBank Real Estate Capital cut 100+ jobs Keycorp exited subprime mortgage business, layoffs Key West Bank shut by FDIC Keys Federal Credit Union shut down KH Funding filed for Chapter 11 bankruptcy Kinecta FCU exits third-party mortgage origination business Kirkwood Financial Corp. suspended wholesale originations KKR Financial Holdings no longer intends to invest in residential real estate Kondaur Capital Corp. cut 155 jobs La Jolla Bank shut by FDIC Lakeside Community Bank shut by FDIC Lancaster Mortgage Bankers closed LandAmerica Financial Group Inc. will cut 1,100 jobs (title company) Landesbank Sachsen Girozentrale (Germany) sold to Landesbank Baden-Wrttemberg LandMark Bank of Florida shut by FDIC Law Offices of David J. Stern to shut down, layoffs Legacy Bank shut down by FDIC Lehman Brothers filed Chapter 11 bankruptcy Lehman Brothers cut 140 mortgage-securities trading jobs Lehman Brothers cut 850 jobs Lehman Brothers to cut 1425 jobs globally + another 1,500 Lehman Brothers cut 200 jobs from its UK mortgage firms Lehman Brothers to close UK subprime lending units SPML and Preferred Mortgages Lehman Brothers Bank cut 126 jobs in Lake Forest, CA Lehman Brothers Bank cut 85 jobs in Lake Forest, CA Lehman Bros. Small Business Finance no longer accepting loan applications Lehman Bros Dutch mortgage unit Elq Hypotheken ceased lending Lend America closed Lenderlive laid off 45 in Madison Heights, MI Lenders Direct Capital Corporation closed wholesale lending operations Lending group Inc. suspended operations LendingTree.com closed Carmel, IN office, 64 layoffs Lending Tree 20% of workforce laid off (fresh ones on Aug. 17) LendingTree layoffs, mainly in Irvine, CA Lennar Corp. over 4,000 layoffs at big Miami home builder Lenox Financial Mortgage receives cease and desist from Georgia Department of Banking and Finance Lexington Lending halts wholesale operations Levitt and Sons LLC (homebuilder) laid off a third of staff Levitt and Sons LLC (homebuilder) filed for Ch. Careers - Finance of America Companies Expect more layoffs, if not another complete closure, in the coming weeks/months. Goldman Sachs was hit with a wave of layoffs this week that affected more than 3,000 of the firms staff, or about 6.5% of its total workforce. What Mortgage Rate Can I Get With My Credit Score? I need to order a payoff. At airlines, headcount fell as low as 364,471 in November 2020, even though that wasn't supposed to happen. At Salesforce, headcount totaled 79,824 as of Oct. 31, per its own third quarter report, up from 69,530 the same time the prior year. Biggest Layoffs in US Banking History: Analyst Predicts Banks to Cut Finance Of America Mortgage To Shut Down - NMP CMG Financial, based in San Ramon CA, has been doing layoffs all year but it looks like theybare flying under the radar. Mortgage layoffs in 2022: a list | National Mortgage News Mortgage Brokers vs. Banks: Which Is Better? Its really sad. More than likely they will be laying off operations today since its the end of their pay period. Your email address will not be published. Hello Im selling my house and have been informed that I have a lien on my title from Aames Funding Corp. Massive Wall Street layoffs feared as banking profits tank - New York Post Finance of America Companies provides a diverse selection of lending products and services that meet customers' financial needs throughout each phase of their lives. Before grand opening of new facility in November. Now, its about doing more with less and combining teams to one manager. 50 + employees and Los terminated or laid off. Mid City Bank, Inc. shut by FDIC Middletown Valley Bank acquired Millennium Financial Group (MLend) Midwest Bank and Trust Company shut by FDIC Millennium Bank, NA closed by FDIC Millenium Bankshares closed mortgage division Millenium Funding Group closed Millennium Mortgage Corp. halted wholesale lending Millennium State Bank of Texas shut by FDIC Mirae Bank shut by FDIC MLSG halted lending operation Montage Mortgage acquires Ameritrust Montgomery Bank & Trust shut by FDIC Moore Lending Group acquired by Sierra Pacific Mortgage Company, Inc. Morgan Stanley sold Saxon Mortgage to Ocwen Morgan Stanley to lay off 300 employees in securities division Morgan Stanley to sell City Mortgage Bank (Russian mortgage unit) Mortgage Bankers Association layoffs Mortgage Capital Resource Corp. closed MortgageIT layoffs and branch closure Mortgage Investors Group (MIG) closed wholesale division Mortgage Investment Lending Associates (MILA) subprime wholesale closed Mortgage Network Inc. halted wholesale and correspondent lending Monarch Bank buying mortgage-related assets from Resource Bank Morgan Stanley bought Saxon Mortgage Morgan Stanley cut over 1,000 jobs Morgan Stanley to cut 1,500 jobs Morgan Stanley cuts 600 mortgage jobs Mortgage Investment Lending Associates closed Mortgage Investors Corp. cut 380 jobs in St. Petersburg, Florida Mortgage Investors Corp. cut 476 employees, stopped taking new applications Mortgage Investors Corp. filed Chapter 11 bankruptcy MortgageIT halted wholesale lending MortgageIT consolidated with DB Home Lending, rumored to be offering agency loans only Mortgage Network Inc. acquired Partners Group Unlimited Mortgage Next (UK) layoffs Mortgage Lenders Network stopped residential loan production MortgageTree Lending closed, website down Mortgages Ltd. filed for Ch. Although the layoffs were unusually large this year, they are an ever-lurking prospect for people who work in finance. Thanks Alan. Bank of America Layoffs - TheLayoff.com The Money Source (TMS) not only sold out to Amerisave, but laid off 50+ without warning. I cant find anyone to help me clear this up. Could have done this with more class. And it's not just tech workers being let go. Frequently asked questions . SitusAMC just eliminated an unknown amount of positions. Its unknown if they laid off other positions as well so it could be a much higher number. Keller Mortgage laid off around 600 people effective 5/22022, Servicelink had four rounds of layoffs thru May no serverence not even pay out for vacation time, Guaranteed Rate and its affiliates did another layoff today, 7/13 after waiting for cpi postings. 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. Trying to clear up a release of lien on property. Original mortgage with Advent filed 8/8/2007. Finance of America Mortgage announces shutdown - HousingWire Thats more than roughly 80,000 layoffs in the sector at the onset of the COVID pandemic in 2020, underscoring that recent reductions are likely a consequence of hiring overzealously during the tech boom in 2021. The shutdown of Finance of America Mortgage will accelerate the companys ability to partner with large mortgage lenders and other financial services companies to offer FoAsspecialty finance and services (SF&S) solutions on their platforms, Fleming added. QVC parent company Qurate lays off 400 as part of turnaround plan Cook stepped down as CEO on June 30 due to an existing medical condition. Incredible work here. Finance firms also hinted at the shifting economic landscape as year-end earnings reports were made public on Friday morning. Paid off a loan in 2009 to Alliance Financing Mortgage Corp, out of Mt. Unaffiliated with Amerifirst Financial Inc.). On a one-day basis . This list gives us a perspective to get out of the mortgage industry and pivot to some else. Ride-sharing giant Lyft in November revealed to staff that it would be cutting some 700 jobs in an effort to bolster its business, which is facing a slowing economy, heading into 2023. Some firms across the financial industry are giving workers the boot after dealmaking activity tumbled last year and as a potential recession looms. Alexandra Semenova is a reporter for Yahoo Finance. 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. FoA plans to fund forward mortgage loans relating to its mortgage originations segment in the first half of 2023, primarily consisting of forward mortgage loans with extended lock periods and representing less than 11% of the aggregate forward mortgage loan pipeline, according to its filing with the U.S. Securities and Exchange Commission. Overall, FoA delivered a $64 million loss in the first quarter of 2022. But . 09/22/2022 Chase laid off 200 mortgage employees across retail and correspondent Channels. Working at Finance of America: 322 Reviews | Indeed.com A lot of hard-money/private lenders have laid off employees. On a one-day basis, that's a rather large move for this company that tends to see muted price action outside of earnings. FoAs subsidiary Incenter operates a foreign branch in Manila for fulfillment transactional support, according to documents filed with the Securities and Exchange Commission (SEC). I dont see it on the list but on July 8th, 2022 Sprout Mortgage closed it doors and laid the entire company off. Tech companies, banks overstaffed, while airlines, hotels need - CNBC Very hush hush. Those were the first layoffs for Goldman since before the pandemic. OKTA. 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. Thanks! US Bank Home Mortgage laid off 200 operations employees March 29, 2022. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER. We have a loan with First Direct Lending in Irvine, CA. ~60 people. A Long List of Mortgage Layoffs, Mergers, and Closures The latest job cuts report from employment firm Challenger, Gray & Christmas also showed tech companies led announced layoffs for all of 2022, with 97,171 job cuts expected, a whopping 649% surge from 2021. Advanced product, pricing and eligibility technology creates efficiencies and helps lenders compete in a fast-paced market. BofA, Citigroup trim investing banking headcount in Asia -sources Last week, BlackRock (BLK), the world's largest asset manager, said it will lay off about 500 employees or roughly 3% of its workforce. Late last year, Facebook parent Meta Platforms (META) announced plans to lay off 11,000 workers, or 13% of its overall workforce. Newrez & Caliber Home Loans has had a multitude of layoffs in 2022, most recent being 8/3. 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. Amazon (AMZN) CEO Andy Jassy said late Wednesday the company would cut "just over 18,000 roles," a higher reduction than initially planned. Mortgage Layoffs Surge As Rising Rates Crush Lending Activity - Forbes 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. Servicing has been sold as well. Finance Of America Closing Its Forward Wholesale Channel In. DZ. Guaranteed Rate has had several layoffs this 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. Your email address will not be published. The same flexibility hasn't been on display from others on the Street to kick off 2023. Highlands Residential Mortgages corporate headquarters in Allen, texas also had layoffs and staff reductions. The company reported a loss of $168 million. I first created this list of mortgage layoffs and closures in February 2007. 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. NASB Home Loans just laid off about 37 of their 90 loan consultants and around 40 operations staff on November 3rd, 2022. Uncover why Finance of America is the best company for you. Fairway Independent Mortgage just closed a few branches affecting Colorado, California, Wyoming and Washington on 2/28/2023. Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. Does anyone know what happened to Monogram Home Equity Corp? With the shutdown of its forward mortgage company, FoA expects to save between $110 million and $120 million annually. Rocket has a plan to drastically cut costs. 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.". Finance of America doesn't charge prepayment penalties on any of its loans, and you can lock in a mortgage rate for up to 85 days for free. I would be curious to onow how many have been let go YTD. Its not been very well-explained, but its essentially a flattening of the organization, taking the business channels out of their current silos.. They have laid off 80% of their staff in the last few months. 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 . Note that the entries lower down could be several years old since this list dates back to 2007. Wentworth Home Lending, LLC, GMAC Mortgage to shut all 200 retail offices, Guaranteed Rate acquired Stearns Lending, Guild Mortgage Co. acquired Cornerstone Mortgage, HomeLight acquired mortgage startup Eave. Mario Glover, a former business support analyst, was laid off during a video call with his manager and a rep from human resources on July 15, just three months after he started working at the lender. Finance of America Careers and Employment | Indeed.com Academy Mortgage just dissolved their Growth & Development and Employee Engagement departments, as one of the G & D employees, I am not sure how many layoffs in total. February 25 , 2023 . The layoffs are a response to the cooling housing market, where rising mortgage rates and inflation are pushing some buyers out of the market. Staying nimble in a fast-paced market with the right mortgage technology. 1 week severance. Latest USAA employee reduction impacts mortgage unit . Wentworth Home Lending, LLC Freedom Mortgage Corp. shut San Dimas call center, slash 171 jobs Freedom Mortgage Corp. acquired RoundPoint Mortgage Servicing Freedom Mortgage Corp. acquired Sterling National Banks mortgage operations Freedom Mortgage Corp. bought the assets of BluFi Lending Freedom Mortgage Corp. acquired Continental Home Loans Freestand Financial closed Fremont General exited secondary sub-prime market, layoffs Fremont General filed Ch. Your email address will not be published. FAR I dont, maybe someone who visits this page will. Once a solid company that preached they wont lay people off, here we are. Theyre also in the process of being aquired by NYCB. 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. Metrociti issued loan on a Mexican residence, probably Homecomings Financial got it somehow around Feb 03, then payment went to GMAC from Aug 2010 until Ocwen since May 2013 and now is with another with whom we are trying to pay off and sell. 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. Does it go far enough? The market downturn is a reason for the layoffs, for sure. Those laid off was 28 underwriters in Correspondent Channel. By clicking on this link, you are leaving the website of Finance of America Reverse LLC ("FAR"). Wells Fargo let 1100 go on 6/23/22 (via voicemail message)oddly this news is nowhere to be found on the internet. Lendus formerly Rpm that had to pay a huge fine of 20mm to the cfpb finally folded. Largest Layoffs of 2022 Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. Regardless, theyre not the great company I thought they were. Finance of America Plans To Sell Retail Unit, Close Forward Wholesale Lead Analyst Logan Mohtashami explains. One important consideration for the sector is the Feds next meeting at the end of the month. Next lay offs will be Saturday 8/24/22. Not sure how many over all because they somehow keep it out of the news. Strong Home Mortgage just laid off 25% of their operations 04/13/22. 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 last day to lock loans in the pipeline and to submit a credit package on previously locked loans is October 28. 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. 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 havent paid their employees either. Our baseline scenario contemplates a mild recession. Finance of America Mortgage was owned by Blackstone but went public via a $1.9 billion SPAC deal in 2021. Guaranteed rate laid off underwriters and closers last week, October 7, 2022. Bank of America layoffs not in the cards for chief Brian Moynihanhe'll 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. There is a 1stnwm but its not the same one..anybody have a good contact number? The widespread layoffs in the first half of 2022 have already dismantled a few mortgage companies - some which have closed lending channels or exited the market altogether, and at least one which has declared bankruptcy. FoA cuts workforce amid company restructuring, market downturn 11 bankruptcy W.J. At JPMorgan, headcount rose 2% to 293,723 last quarter, and at BofA, the number of workers rose to 216,823 in Q4 compared to 213,270 in the prior period, according to the latest financial results from each company. Amazon ( AMZN) CEO Andy . Between the first and second quarter of 2006 alone, mortgage repurchase requests also tripled thanks to shoddy underwriting that was prevalent during that era. Academy mortgage just did some layoffs this week. Trying to find the link between Metrociti Mortgage Corp. and GMAC sometime around Feb 2003, or before. People found out while they were working and their email was disabled. 7 bankruptcy Alliance Bank (Culver City, CA) shut down by FDIC Alliance Title Co. shut down, layoffs Allied Bank shut by FDIC All Fund Mortgage rumored to be closed, acquired by Carlile Investments Inc. Allstate Home Loans shut down after buyout Ally (GMAC) said its officially done with the mortgage business Ally mortgage unit ResCap filed for Chapter 11 bankruptcy Ally Financial sold European mortgage assets/operations to Fortress Investment Group Alpha Bank & Trust shut down by FDIC ALT Funding believed to have ceased operations Alterna Mortgage New Jersey wholesale lender closed Alternative Financing Corp. wholesale division closed Altisource Portfolio Solutions shut Owners.com business unit Altisource Portfolio Solutions cut 800+ jobs Altisource Portfolio Solutions acquired Mortgage Builder Altivus Financial closed wholesale operations, now believed to be shut down AMC Lending ceases wholesale lending AMC Mortgage acquired by Transnational Financial Network Inc. Amcore Bank, National Association shut by FDIC AmeriBanc Corp. ceased operations Ameribank Inc. shut down by FDIC America One Finance winding down America West Bank shut by FDIC AmericanFirst Bank shut by FDIC AmericasBank shut mortgage unit American Advisors Group acquired the assets of Associated Mortgage Bankers American Brokers Conduit shut down all operations American Business Financial Services closed American Capital Mortgage Investment acquired Residential Credit Solutions, Inc. American Eagle Savings Bank shut by FDIC American Equity Mortgage placed into receivership American Equity Mortgage closing 6 of 30 offices, laying off 40 employees American Freedom Mortgage filed bankruptcy American Home Mortgage closed American Homes 4 Rent layoffs American Lending Group merged with Premier Mortgage Group American Marine Bank shut by FDIC American Mortgage Service Co. and Eustis Mortgage merged American National Bank shut by FDIC American Mortgage Network bought by Wachovia American Sterling Bank halted wholesale lending American Sterling Bank shut down by FDIC American Southern Bank shut down by FDIC American Trust Bank shut by FDIC American United Bank shut down Ameriquest closed, laid off 3,800, shut 229 retail branches after $325 million settlement AmeriSave Mortgage Corp. bought origination business of The Money Source (TMS) AmeriSave Mortgage Corp. purchased CertusBank mortgage unit Ameritrust Mortgage Company subprime wholesale division closed AmPro Mortgage closed (part of Alliance Bancorp) AMS Servicing acquired by Seneca Mortgage Investments Amstar Mortgage Corp. most staff laid off, The Money Store to take over by Dec. 15 AmTrust Bank shut by FDIC AmWest Funding layoffs in Brea, CA AmWest Funding Corporation acquired Bridgeway Financial ANB Financial shut down by FDIC for lax lending standards Angel Oak Mortgage Solutions cut roughly 200 jobs Annaly Capital Management, Inc. acquired CreXus Investment Corp. Anworth Mortgage Asset Corp. its Belvedere subsidiary is in default and faces margin calls Apex Financial Group/Aapex Mortgage commission checks delayed, licenses suspended Apex Mortgage/Aapex Mortgage reportedly cease all operations Apex Lending, Inc. shut down Appalachian Community Bank shut by FDIC APS Mortgages Limited (UK) independent brokerage shut down Aquiline Capital Partners took majority investment in LenderLive Network Arch Capital acquired CMG Mortgage Insurance Co. Arcola Homestead Savings Bank shut by FDIC Argent sold to Citigroup Associated Bank (WI) closed eight branches, cut mortgage jobs at La Crosse location Assurant Inc. acquired Field Asset Services Assurant Specialty Property acquired StreetLinks Assured Lending Corp to exit wholesale lending Assured Mortgage merged with Bell Bank Mortgage Atlantic Bank and Trust shut by FDIC Atlantic Bay Mortgage cut a dozen jobs Atlantic Southern Bank shut by FDIC Aurora stopped wholesale and correspondent lending Aurora Bank FSB cut 450 jobs in Indianapolis Aurora Loan Services 160 employees laid off Aurora Loan Services laid off 70 in Florida, 139 in NJ Aurora Loan Services cut 93 jobs in El Toro, CA Axix Mortgage closed Banc of California stopped wholesale and correspondent lending Banc of California acquired CS Financial Banco Santander to buy UK lender Alliance & Leicester PLC Bank 34 halted mortgage lending, will sell/close its 9 production offices BankAtlantic laid off 115 employees BankEast shut by FDIC BankFirst shut by FDIC Bank of America cut roughly 100 mortgage jobs in Charlotte Bank of America closed mortgage center near Portland, OR, 102 layoffs Bank of America cut 70 mortgage jobs in Simi Valley, CA Bank of America cut 50 jobs at Legacy Asset Servicing unit in Fort Worth, TX Bank of America cut 114 jobs at Simi Valley, CA mortgage servicing unit Bank of America cut 250 mortgage employees in Charlotte Bank of America cut 200+ mortgage servicing workers in Norfolk, VA Bank of America closed office in Rancho Cordova, CA, 160 home equity job layoffs Bank of America cut 177 mortgage jobs in Texas Bank of America cut 53 mortgage employees in Jericho, NY Bank of America cut 113 mortgage employees in West Hills, CA Bank of America eliminated 69 mortgage servicing jobs in Jacksonville Bank of America cut 100+ mortgage jobs in Virginia Bank of America laid off 77 mortgage workers at St. Louis office Bank of America cut 153 mortgage jobs in Pasadena, CA Bank of America cut 540 loss mitigation jobs in Charlotte Bank of America cut mortgage jobs at locations in Richardson and Ft. Worth, TX Bank of America cut 280 mortgage jobs in St. Charles, MO Bank of America cut 24 mortgage servicing jobs in Brea, CA Bank of America cut 174 distressed mortgage jobs at Simi Valley, CA locations Bank of America closed home lending office in Marlton, NJ, 136 layoffs Bank of America cut 1,000 mortgage jobs in Ohio, closing offices in Beachwood, Cincinnati, and Independence Bank of America cut 152 jobs in Sunrise, FL Bank of America reportedly closing old Countrywide Mortgage branches Bank of America cut roughly 4,000 more mortgage jobs by end of 2013 Bank of America cut 209 jobs at call center for distressed mortgages in Pittsburgh, PA Bank of America closed Maitland mortgage facility, cut 53 jobs Bank of America cut 411 loan servicing jobs in Texas Bank of America cut 543 jobs in Fresno Bank of America slashed 113 mortgage jobs in Dallas Bank of America cut 1,320 jobs at Getzville, New York mortgage-servicing facility Bank of America cut 469 jobs from Newark, NJ mortgage servicing center Bank of America cut 57 mortgage assistance jobs in Rancho Cordova, CA Bank of America laid off 675 workers in Fort Lauderdale Bank of America shut its correspondent mortgage business, layoffs Bank of America cut 34 jobs at Saratoga Springs, NY mortgage office Bank of America halts reverse mortgage lending Bank of America halts wholesale mortgage lending Bank of America to cut up to 35,000 jobs Bank of America to buy Countrywide Bank of America Countrywide merger possibility, continued layoffs Badger State Bank shut by FDIC Bank of America to cut 30,000 jobs Bank of America cutting 3,000 jobs in investment banking unit Bank of America to cease wholesale lending, 700 layoffs Bank of America to cut 650 jobs, sell its prime brokerage unit Bank of America cut 224 jobs in Tampa, 195 in Troy Bank of America to cut 7,500 jobs post merger Bank of America completes purchase of Countrywide Bank of America to buy Merrill Lynch Bank of Choice shut by FDIC Bank of Clark County shut down by FDIC Bank of the Commonwealth shut by the FDIC Bank of Ellijay shut by FDIC Bank of Elmwood shut down Bank of Granite and Granite Mortgage Inc. to combine, layoffs Bank of Florida (Tampa, Southwest, Southeast) shut by FDIC Bank of Hiawassee shut by FDIC Bank of Illinois shut by FDIC Bank of Jackson County closed by FDIC Bank of Leeton shut by FDIC Bank of Lincolnwood shut by FDIC Bank of Shorewood shut by FDIC Bank of the Eastern Shore shut by FDIC Bank of Wausau shut by FDIC Bank of Whitman shut by FDIC Bank of Wyoming shut by FDIC BankMeridian shut by FDIC BankUnited halted retail mortgage lending, layoffs BankUnited ceased wholesale lending, layoffs BankUnited bank failure BankUnited to close four wholesale mortgage sales offices, 200 layoffs BankUnited cut another 160 jobs BankUnited cut 115 jobs in Miami Lakes, FL Bank USA shut down Barclays halted certain MBS trading in U.S., layoffs Barclays Bank PLC bought Equifirst Barclays Bank PLC sold HomEq Servicing to Ocwen Financial Barnes Banking Company shut by FDIC Bartow County Bank shut by FDIC Basis Yield Australian hedge fund files for bankruptcy due to subprime lending woes Bath Building Society (UK) halt mortgage lending Bay Capital Corp. closed Bay Equity Home Loans acquired assets of Village Mortgage Bay National Bank shut by FDIC BayRock Mortgage Corp. ceased wholesale lending Bayside Savings Bank shut by FDIC Bayview Financial cut 60 jobs BB&T Corp. purchased SunTrust Banks, Inc. BB&T bought Collateral Real Estate Capital BB&T to shut subprime wholesale lending unit BC Bancorp shut down BC National Banks shut by FDIC Beach First National Bank shut by FDIC Beacon Financial Mortgage Bankers Corp. filed bankruptcy Bear Stearns layoffs Bear Stearns closed two hedge funds after huge subprime losses, 240 subprime layoffs Bear Stearns merging Encore Credit and Bear Stearns Residential Mortgage into one unit Bear Stearns cuts 150 jobs in Irvine, CA Beazer Mortgage Corp. halts loan origination Beazer Homes closed office, layoffs, subpoenaed for fraud Beazer Homes cut 25% of staff Belvedere Trust Mortgage two default notices, unlikely to pay back loans Ben-Ezra & Katz cut nearly half of staff Ben-Ezra Law Firm cuts 146 jobs, exits foreclosure space Benchmark Bank shut by FDIC Beneficial Finance layoffs Berkshire Hills Bancorp acquired 20 Bank of America branches in state of New York BF Saul Wholesale Group layoffs and closures, could be dissolved BlackandWhite.co.uk halts lending, layoffs Blackstone acquired significant stake in PMI Group Blackstone purchased Gateway Funding Diversified Mortgage Services (per IMF) Blackstone acquired majority stake in Stearns Holdings, LLC Blackstone bought PHH Mortgage Blue Ridge Bankshares Inc. acquired LenderSelect Mortgage Group Blue Ridge Savings Bank, Inc. shut by FDIC BMC Capital to acquire NMB Capital BMO Harris eliminated 170 mortgage jobs BNC Mortgage filed bankruptcy BNC Mortgage LLC shut down consolidated with Aurora Loan Services layoffs BNC Mortgage cut 175 jobs in Nor.

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