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View Full Version : Who is getting rich off the bailouts


LordSegan
02-19-2009, 10:57 AM
Billions if not trillions of dollars are floating around right now, adrift. It is being shot out of firehouses by the Fed, and individual organizations and people are moving it around a lot too.

Who is getting rich off this? Bank of America? CEOs?

StageLeft
02-19-2009, 11:00 AM
Well, a lot of money is being spent so certainly somebody's getting hugely rich. Not sure who.

Who got rich the first time around were bankers/investors who bought into the scam and sold out before it completely obliterated and/or guys like that hedge fund manager who spent a billion dollars buying insurance against the bad mortgages, expecting them to fall, and made something like a 600% return last year. Unlike most of us he actually put his money where his mouth is and made off huge.

heyheybooboo
02-19-2009, 11:45 AM
The folks who got rich have long banked their money and left the bidness .... Is this list long enough for you?
(and note I have not included your typical 6% realtor commisions)

1st Choice Mortgage ? to close, layoffs
Aames Investment Corp ? acquired by Accredited Home Lenders
ABN Amro Mortgage ? 1700 layoffs
ABN-Amro Hypotheken-Gruppe ? stopped lending in Germany
Ace Mortgage Funding ? shut down
Accredited Home Lenders ? ceased wholesale lending for second time in Aug 2008
Accredited Home ? shut down retail lending, ceased wholesale, Lone Star lawsuit
Accredited Home ? agreed to Lone Star buyout
Accredited Home Lenders ? shuts four operations centers, layoffs
ACC Capital Holdings ? mass layoffs, closed Ameriquest, sold wholesale to Citigroup
Acoustic Home Loans ? closed subprime wholesale lender
ACT Mortgage Capital ? suspended all submissions/fundings until further notice
Advantage Home Loans ? closed
Advent Mortgage ? merged with New Equity Mortgage
AIG ? to buy Equity One
Aegis Funding ? closed, seeking bankruptcy protection
Aegis Mortgage Corp. ? laying off 401 employees
Alpha Bank & Trust ? shut down by FDIC
Alliance Bancorp ? closed, filed for Ch. 7 bankruptcy
Alliance Bank (Culver City, CA) ? shut down by FDIC
Alliance Title Co. ? shut down, layoffs
All Fund Mortgage ? rumored to be closed, acquired by Carlile Investments Inc.
Allstate Home Loans ? shut down after buyout
ALT Funding ? believed to have ceased operations
Alterna Mortgage ? New Jersey wholesale lender closed
Alternative Financing Corp. ? wholesale division closed
Altivus Financial ? closed wholesale operations, now believed to be shut down
AMC Lending ?ceases wholesale lending
AMC Mortgage ? acquired by Transnational Financial Network Inc.
AmeriBanc Corp. ? ceased operations
Ameribank Inc. ? shut down by FDIC
AmericasBank ? shut mortgage unit
American Brokers Conduit ? shut down all operations
American Business Financial Services ? closed
American Equity Mortgage ? closing 6 of 30 offices, laying off 40 employees
American Freedom Mortgage ? filed bankruptcy
American Home Mortgage ? closed
American Lending Group ? merged with Premier Mortgage Group
American Mortgage Network ? bought by Wachovia
American Sterling Bank ? halted wholesale lending
Ameriquest ? closed, laid off 3,800, shut 229 retail branches after $325 million settlement
Ameritrust Mortgage Company ? subprime wholesale division closed
AmPro Mortgage closed ? (part of Alliance Bancorp)
Amstar Mortgage Corp. ? most staff laid off, The Money Store to take over by Dec. 15
ANB Financial ? shut down by FDIC for lax lending standards
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 opertions
APS Mortgages Limited (UK) ? independent brokerage shutting downn
Argent ? sold to Citigroup
Assured Lending Corp ? to exit wholesale lending
Aurora ? stopped wholesale and correspondent lending
Aurora Loan Services ? 160 employees laid off
Aurora Loan Services ? laid off 70 in Florida, 139 in NJ
Aurora Loan Services ? cut 93 jobs in El Toro, CA
Axix Mortgage ? closed
Banco Santander ? to buy UK lender Alliance & Leicester PLC
BankAtlantic ? laid off 115 employees
Bank of America ? to cut up to 35,000 jobs
Bank of America ? to buy Countrywide
Bank of America ? Countrywide merger possibility, continued layoffs
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 Granite and Granite Mortgage Inc. ? to combine, layoffs
BankUnited ? ceased wholesale lending, layoffs
Bank of Clark County ? shut down by FDIC
BankUnited ? to close four wholesale mortgage sales offices, 200 layoffs
BankUnited ? cut another 160 jobs
BankUnited ? cut 115 jobs in Miami Lakes, FL
Barclays Bank PLC ? bought Equifirst
Basis Yield ? Australian hedge fund
files for bankruptcy due to subprime woes
Bath Building Society (UK) ? halt mortgage lending
Bay Capital Corp. ? closed
BayRock Mortgage Corp. ? ceased wholesale lending
Bayview Financial ? cut 60 jobs
BB&T ? bought Collateral Real Estate Capital
BB&T ? to shut subprime wholesale lending unit
BC Bancorp ? shut down
Bear Stearns ? layoffs
Beacon Financial Mortgage Bankers Corp. ? filed bankruptcy
Bear Stearns ? closed two hedge funds after huge subprime losses, 240 subprime layoffs
Bear Stearns ? merging Encore Credit and Bear Stearns Residential Mortgage into one unit
Bear Stearns ? more layoffs
Bear Stearns ? cuts 150 jobs in Irvine, CA
Beazer Mortgage Corp. ? 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
Beneficial Finance ? layoffs
BF Saul Wholesale Group ? layoffs and closures, could be dissolved
BlackandWhite.co.uk ? halts lending, layoffs
Blackstone Group ? buying PHH Mortgage
BMC Capital ? to acquire NMB Capital
BNC Mortgage ? filed bankruptcy
BNC Mortgage LLC ? shut down ? consolidated with Aurora Loan Services layoffs
BNC Mortgage ? cut 175 jobs in Nor. Cal, 400 in So. Cal
BNY Mortgage ? changes name to EverBank Reverse Mortgage
Bradford & Bingley (UK) ? nationalized, 370 layoffs
Broad Street Mortgage ? sold to Wausau Mortgage Corp.
BrokerSource ? ceased operations
BrooksAmerica Mortgage Corp. ? temporarily suspended new loan originations
BSM Financial ? closed wholesale unit BrokerSource
Budget Finance Co. ? layoffs
c2 Financial (UK lender) ? to lay off roughly 20 percent of workforce
C & G Financial ? suspended funding/production
C-BASS ? acquired Fieldstone Investment Group, struggling with margin calls
California TD Investments LLC ? filed for bankruptcy
Calusa Investments ? website down, thought to be closed
Cameron Financial Group ? bankrupt

Capital One ? to buy Chevy Chase Bank
Capital One Home Loans ? shutting Overland Park office, 300+ layoffs
Capital One Mortgage ? 2,000 layoffs planned nationwide
Capital Six Funding ? subprime and hard money lender suspended operations
CapitalSource Inc. ? to acquire retail banking operations of Fremont General
Carlile Investments Inc. ? acquired All Fund Mortgage
Carteret Mortgage Corp. ? to be closed down, hundreds of layoffs loom
Castle Point Mortgage ? will no longer accept wholesale broker applications
CBA Commercial ? said to have had sizable layoffs
CBRE Realty Finance ? halted lending
Centennial Mortgage and Funding Inc. / Award Mortgage ? shut down
Centex Home Equity ? changed its name to Nationstar Mortgage
Central Pacific Mortgage ? closed, TMSF cancels deal to acquire company
Century Bank FSB ? to halt wholesale lending
CFIC Home Mortgage ? closing down
Champion Home Builders ? 196 layoffs
Chapel Funding ? bought by Deutsche Bank
Charcol Mortgages (UK) ? cut up to 50 jobs
Charter Funding ? believed to be closed by parent First Magnus Financial
Charter Mortgage ? shut specialty lending unit
Charter One ? exits wholesale lending
Chase ? to buy Bear Stearns
Chase ? closing subprime loan facility in Ontario, CA 91 layoffs
Chase ? Washington Mutual merger
Chase ? wholesale lending division shut down
Chase ? shut home equity and subprime wholesale units, layoffs
Chase ? closed operation centers in CA and NJ
Chase ? shut home equity processing center in Rochester, 300 layoffs
Chase ? cut roughly 100 home equity jobs in Indianapolis
Chase ? cut 9,200 Washington Mutual jobs
Chase Home Finance ? closed retail subprime operations center in Woodcliff, NJ
Chase Home Finance ? shut 430-employee branch in Lexington, KY
Chase Home Lending ? cut 132 jobs in Ohio
Chase Home Lending ? cut 266 jobs in Pennsylvania
Chase Wholesale Lending ? shut four loan centers, cut 175 jobs
Chevy Chase ? layoffs, to stop lending in CA
Chevy Chase ? cut correspondent channel, facing class-action lawsuit
Chevy Chase ? halts construction-to-perm lending
Chevy Chase ? seized wholesale lending
Chevy Chase ? layoffs
Chicago and Dallas Federal Home Loan Banks ? proposed merger off
CHL Mortgages (UK) ? to cut 20% of staff
Choice Capital Funding ? rumored to be closed
CIBC ? layoffs
CIT Group Inc. ? shut down mortgage division 500+ layoffs
CIT Group ? sold remaining mortgage assets to Lone Star Funds
Citadel ? buying ResMAE
Citigroup ? to cut 50,000+ jobs
Citigroup ? layoffs as high as 45,000
Citigroup ? bought ABN AMRO Mortgage Group, acquired assets of Argent Mortgage
Citigroup ? mortgage layoffs reported
Citigroup ? layoffs in collateralized debt obligation unit
Citigroup ? to sell or shut down First Collateral Services
Citigroup ? to layoff 2000 investment bankers/traders
Citi ? to buy Wachovia
Citi ? to cut 9,000 jobs
Citi ? cut about 30 jobs in structured-credit group tied to mortgage losses
Citi ? to close Future Mortgages (UK) and CitiFinancial (UK subprime), layoffs
Citi ? cut 125 jobs in Texas
Citi ? to cut up to 6,500 investment banking jobs
Citi Home Equity ? layoffs
CitiMortgage wholesale ? to cut jobs, drop brokers
CitiMortgage ? layoffs and closures
CitiMortgage ? halts wholesale home equity lending, 500 layoffs
CitiMortgage ? cut 190 wholesale mortgage jobs in Des Moines, IA
CitiMortgage Wholesale ? layoffs, territories realigned
Citi Residential Lending ? retail mortgage unit to be consolidated
Citizens Bank ? mortgage layoffs
Citizens Republic Bancorp ? to cut 60 jobs, mainly from mortgage processing
Clear Choice Financial ? in default, Bankruptcy possible
CMXL ? acquired All Fund
Coast Bank ? sold to First Banks of St. Louis
Cohen Financial ? cut 25% of staff
Coldstream Financial Services ? closed
Collateral Real Estate Capital ? acquired by BB&T
Colonial National Mortgage ? closing operations center in Ohio
Colony Mortgage Corp. ? closed
Columbia Bancorp ? shut mortgage unit, cut 39 jobs
Columbia Home Loans ? subprime lender closed
Columbian Bank and Trust Co. (Kansas) ? shut down by FDIC
Commercial First (UK) ? halted new lending
Commonwealth Bank of Australia ? to acquire Wizard Home Loans
Community Resource Mortgage ? closed its wholesale lending division, layoffs
ComUnity Lending ? halted operations, faces liquidation
Concord Mortgage Co. ? believed to be out of business
Concorde Acceptance ? rumored to be closed
Contact 4 (UK) ? to cut 108 jobs
CoreStar Financial Group ? closed
Countrywide ? closing wholesale fulfillment centers
Countrywide ? shut 16 wholesale loan fulfillment centers
Countrywide ? believed to have shut 46 Full Spectrum Lending branches
Countrywide Correspondent Lending Division ? cut 293 jobs
Countrywide Specialty Lending Division ? layoffs
Countrywide Capital Market Division ? cut 65 jobs
Countrywide ? laid off 73 employees in Canoga Park
Countrywide ? layoffs in subprime , may be bought out by Bank of America
Countrywide cutting up to 12,000 jobs, more about the Countrywide layoffs
County Bank (Merced, CA) ? shut down by FDIC
Credit Suisse ? layoffs, bought LIME Financial
Credit Suisse ? to cut 500 investment banking jobs
Credit Suisse ? to cut 150 jobs in its investment bank unit in UK
Credit Suisse ? cut 210 jobs in NYC
CTX Mortgage ? reportedly for sale
Dana Capital ? closed
DB Home Lending ? consolidated with MortgageIT, layoffs, rumored to be closed
DeepGreen Financial - closed
Decision One ? shut down, layoffs
Delta Financial ? closed offices, 300 layoffs
Delta Financial ? bankruptcy, suspends loan origination
Delta Financial Corp. ? layoffs
Deutsche Bank Correspondent Lending Group ? consolidating business to MortgageIT
Diablo Funding Group ? shut down
Direct Finance Corp. ? acquired First Call Mortgage Co.
Ditech ? 181 layoffs
Ditech.com ? cut 120 jobs at Costa Mesa, CA headquarters
Dollar Mortgage Corp. ? being acquired by Shearson Financial Network
Domestic Bank ? shutting down wholesale unit
Draper and Kramer Mortgage ? merged with 1st Advantage Mortgage LLC
Downeast Mortgage Corp. ? to shut down
Downey Savings ? shut down by the FDIC
Downey Savings ? shut wholesale channel
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
Edgewater Lending Group ? halts wholesale lending
Egg Mortgages (Citi-owned UK finance unit) ? no longer accepting applications
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
Entrust Mortgage ? closed
Equibanc ? closed by Wachovia
Equifirst ? layoffs, bought out by Barclays Bank PLC
EquiFirst ? cut 64 jobs in Arizona
Equipoint ? halted wholesale lending, shut 70+ branches
Equity One (a unit of Popular Inc.) ? cut 147 jobs in Marlton, NJ
Equity Title (owned by Coldwell Banker) ? layoffs
Exchange Financial ? temporarily discontinuing its Wholesale/Correspondent business
Expanded Mortgage Credit ? closed wholesale
Express Capital Lending ? not accepting new submissions until further notice
Family First Mortgage Corp. ? ceases operations, layoffs
Fannie Mae ? layoffs
Fannie Mae ? 200 layoffs
Fannie Mae and Freddie Mac ? bailed out
FBR Capital Markets ? cut 75 jobs
FBR ? selling subprime unit
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 Bancorp ? 700 layoffs
Fifth Third ? to discontinue Alt-A lending
Finance America ? closed
Financial Title Company ? closing, layoffs
First Advantage ? acquired CredStar
First American Bank ? to cease wholesale lending
First American Corp. (title insurer
) ? layoffs at 1,900
FirstBank ? to shut down wholesale mortgage division Oct. 31
FirstBank Financial Services ? shut down by FDIC
First Banks of St. Louis ? bought Coast Bank
First Centennial Bank ? shut down by FDIC
First Collateral Services (Citi) ? 126 layoffs
First Collateral Services (Citi) ? cut 150 jobs
First Community Bancorp ? layoffs
First Consolidated Mortgage Co. ? subprime wholesaler shutting down, in dispute
First Federal Bank of California ? halted wholesale lending
First Fidelity Financial ? closed its doors
First Franklin to be shut down, 650 layoffs
First Franklin Financial ? layoffs, sold to Merrill Lynch
First Franklin ? firings/layoffs rumored
First Georgia Community Bank ? shut down by FDIC
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 Madison Mortgage ? shut down
First Magnus ? no longer funding or originating any mortgage loans
First National Bank of Arizona ? halts retail mortgage lending, 35 layoffs
First National Mortgage Sources ? shut down
First NLC bankrupt, halts lending
First NLC Financial Services LLC ? 645 layoffs
First NLC ? layoffs and closures
First Mariner Bancorp ? closed its wholesale mortgage lending unit
First National Bank of Arizona ? shut down by FDIC
First Priority Bank ? closed by FDIC
First Source Funding Group ? closed
First Street Financial ? closed
Fitch Ratings ? to cut 150 jobs
Flexpoint Funding ? reportedly closed wholesale division, now completely shut down
Flick Mortgage ? closed
FMF Capital LLC ? closed
FNBA ? wholesale division and correspondent line shut down, 541 layoffs
Fortes Financial ? halted lending
Fortes Financial ? acquired five former National City regional wholesale offices
Franklin Bank ? shut down by FDIC
Franklin Bank Corp. ? closing warehouse line, layoffs
Franklin Credit Management Corp. ? suspends loan acquisition and origination
Freddie Mac ? cut 100+ jobs
Freedom Bank ? shut down by FDIC
Freestand Financial ? closed
Fremont General ? exited secondary sub-prime market, layoffs
Fremont General ? filed Ch. 11 bankruptcy
Fremont Investment & Loan ? laid off 243 employees in Ontario, CA
Fremont Investment & Loan ? cut 243 jobs in CA
Frost Mortgage ? partnered with First Houston
Foxtons, Inc. ? filed Chapter 11 bankruptcy
FundingAmerica ? not accepting any new business
Gateway Bank ? suspends wholesale lending
GE ? mulling sale of Australian mortgage unit Wizard Home Loans
General Electric ? buying PHH Corporation
GE Money (Ireland) ? halted mortgage lending, cut 80 jobs
GE Money (AU & NZ) ? cut 335 jobs
GE Money Canada ? to halt mortgage lending
Genworth Financial ? cutting roughly 1,000 jobs
Genworth Financial ? acquired Liberty Reverse Mortgage
Global Mortgage Inc. ? to be shut down
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
Golden Empire Mortgage ? closed wholesale division GEM Capital Funding
Golden State TD Investments LLC ? filed for bankruptcy
Goldman Sachs ? purchased Litton Loan Servicing
Goldman Sachs ? to cut 1,500 jobs
Greater Buffalo Savings Bank ? halted residential mortgage lending, closed unit
Great Southwest Mortgage ? believed to be closed by parent First Magnus Financial
Greenpoint Mortgage ? closed, 1900 employees laid off, 31 branches closed
Greenpoint Mortgage ? shut servicing center in Columbus, GA, 220 layoffs
Group One Lending shut down
Guaranty Bank ? to shut correspondent lending unit
Guaranty Financial ? cut 10 percent of workforce
Guaranty Residential ? layoffs
Guardian Loan Co. ? shut down
Guild Mortgage Co. ? acquired Liberty Financial Group
H&R Block Mortgage Corp. ? 353 layoffs
H&R Block ? to cut 505 jobs related to closure of Option One
Harbourton Mortgage Investment Corporation (HMIC) ? closed
Haven Trust Bank ? shut down by FDIC
HBOS ? shut Mortgage Business (UK), 325 possible layoffs
Heartland Mortgage Co. ? bought Merrlin Mortgage Corp.
Heartland Wholesale Funding ? ceased wholesale lending
Heartwell Mortgage ? closed
Heritage Plaza Mortgage ? closed
HFF Inc. ? cut 57 jobs
HMIC ? closed
Home 123 Mortgage ? closed
HomeBanc Mortgage Corp. ? layoffs, filed bankruptcy, sold branches to Countrywide
Home Capital Inc. ? closes
Homecomings Financial ? to cease lending
Homecomings Financial ? laid off 284, including 207 AEs
Homecomings Financial ? cut 60 jobs in Bellevue, WA
Home Equity of America ? layoffs
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 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
Homestead Mortgage ? will close its wholesale division
Homeview Lending Inc. ? layoffs, now appears to be closed
Homewide Lending Corp. ? closed
Honor State Bank ? closed wholesale lending department
Housevalues Inc. ? laid off 160 workers, closed Yakima call center, shut mortgage lead biz
HSBC ? stopped wholesale, correspondent lending
HSBC ? to cut 1100 jobs
HSBC Holdings PLC ? closing mortgage office, 600 layoffs
HSBC Mortgage Services (Correspondent division) ? closed, layoffs
HSBC Financial Corp. Ltd. (Canada) closing 30 branches, 300 potential layoffs
HSBC ? shuts down Decision One
HSBC Financial Corp. Ltd. (Canada) ? closing 30 branches, 300 potential layoffs
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
Huntington Financial ? to be acquired by Oxford Funding
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 ? stops Alt-A lending, 144 laid off
Impac Mortgage Holdings ? 350 recent layoffs, halted Alt-A loan production
Indymac ? sold to private investor 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 layoffs
IndyMac ? stopped construction-to-perm lending
IndyMac ? closed Ontario, CA-based operations center
IndyMac Commercial Lending Corp. ? halted lending operations
ING ? to cut 7,000 jobs
ING ? to buy Interhyp AG (largest German residential mortgage broker)
Innovative Mortgage Capital ? closed
Integrity Bank of Alpharetta, Georgia ? shut down by FDIC
InterBay Funding ? laid off 75 workers
Investaid Corp. ? suspended operations indefinitely
Irwin Home Equity ? layoffs
Irwin Union Bank & Trust Co. ? stopped wholesale lending
Ivanhoe Mortgage ? closed
JP Morgan ? layoffs reported in loan structuring group, CMBS group , and UW group
KBC Bank NV (Belgium) ? buying 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 Real Estate Capital ? halted lending
KeyBank Real Estate Capital ? cut 100+ jobs
Keycorp ? exited subprime mortgage business, layoffs
Kirkwood Financial Corp. ? suspended wholesale originations
KKR Financial Holdings ?no longer intends to invest in residential real estate
Lancaster Mortgage Bankers ? closed
LandAmerica Financial Group Inc. ? will cut 1,100 jobs (title company)
Landesbank Sachsen Girozentrale (Germany) ? sold to Landesbank Baden-Württemberg
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
Lender?s Direct Capital Corporation ? closed wholesale lending operations
Lending group Inc. ? suspended operations
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
Lexington Lending halts wholesale operations
Levitt and Sons LLC (homebuilder) ? laid off a third of staff
Levitt and Sons LLC (homebuilder) ? filed for Ch. 11 bankruptcy
Liberty American Mortgage ? halted wholesale lending
Liberty Home Lending ? ceased wholesale lending
Liberty Mortgage Funding Co. ? filed for Ch. 7 bankruptcy
Liberty One Lending ? ceased operations
LIME Financial Services (Credit Suisse wholesale) ? ceased lending
LIME Financial Services, Ltd ? sold to Credit Suisse, downsized from 450 to 225
Lloyds TSB ? to buy Halifax Bank of Scotland for $22 billion
Loancity ? closed 7 branches, shut down
Loans 123 ? no longer taking anymore business
London & Scottish Mortgages (LSM:UK) ? stopped accepting new applications
Lone Star ? facing lawsuit over purchase of Accredited Home Lenders
Lone Star ? to buy Bear Stearns Residential Mortgage Corp.
Long Beach Mortgage Co. (WAMU) ? winding down operations
Long Mortgage ? lost financing, parent First Magnus trying to dissolve unit
LowerMyPayment.com ? closed, mortgage lead company
Lownhome Financial ? closed
Luminent? layoffs, two default notices, selling equity stake to Arco Capital Corp.
Luminent Mortgage ? filed Chapter 11 bankruptcy
Lydian Mortgage ? shut wholesale, layoffs
M&T Bank ? cut wholesale mortgage jobs
MacQuarie Mortgages USA ? halts loan origination
Macquarie Mortgages USA ? laid off 69 employees
MagnetBank ? shut down by FDIC
Main Street Bank ? shut down by FDIC
Mandalay Mortgage ? closed
Maribella Mortgage ? closed
Market Street Mortgage ? layoffs
Market Street Mortgage ? to be broken up and sold in pieces, 53 layoffs
Marlin Mortgage Company, LLC ? shut it doors
Master Financial ? layoffs, ceased wholesale production
Maverick Residential Mortgage ? reportedly closed
MEM Financial Solutions ? filed for bankruptcy
Mercantile Mortgage ? ceased operations
Meridian Bank ? shut down by FDIC
Meridias Capital ? layoffs, rumors of employees not being paid
Meritage Mortgage ? closed, staff employed by LIME Financial
Merrill Lynch ? bought First Franklin
Merrill Lynch ? to cut 4,000 jobs
Merrill Lynch ? halted all lending at UK subsidiary Wave, layoffs
Merrlin Mortgage Corp. ? acquired by Heartland Mortgage Co.
MetLife ? to acquire EverBank Reverse Mortgage LLC
MetLife ? to buy First Horizon mortgage unit
Metrocities Mortgage ? stopped wholesale lending
Metrocities Mortgage ? dissolved No Red Tape Mortgage, layoffs
Metrocities Mortgage ? acquired Mortgage Services Unlimited
MCAP Financial (Canada) ? suspended subprime lending through its Eclipse division
MGIC ? bought rival mortgage insurance provider Radian Group (pending)
Miami Valley Bank ? shut down by the FDIC
Morgan Stanley ? to lay off 300 employees in securities division
Morgan Stanley ? to sell City Mortgage Bank
(Russian mortgage unit)
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
Millenium Bankshares ? closed mortgage division
Millenium Funding Group ? closed
Millennium Mortgage Corp. ? halted wholesale lending
MLSG ? halted lending operation
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
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. 11 bankruptcy
Mylor Financial ? closed
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 branch closures and layoffs
National City ? cut 50 jobs in San Diego
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 ? acquired Champion Mortgage, closed multiple offices, incl. Denver office Sept. 10
Nationstar ? halts wholesale lending
NetBank ? shut down by FDIC due to excessive mortgage defaults
Netbank Funding ? closed
New England Merchants Corp. ? receives cease and desist order
New Century ? filed bankruptcy
New Equity Mortgage ? merged with Advent Mortgage
New State Mortgage Company ? ceased wholesale lending operations
New Vision Residential Lending ? to close at end of month
Nikko Citigroup ? to cut 10% of staff
Nomura Securities ? closed its nonconforming mortgage conduit and laid off staff
Nomura Holdings ? to shut mortgage-backed securities business, 1300 job cuts
Norddeutsche Landesbank ? made offer for Deutsche Hypothekenbank AG
No Red Tape Mortgage ? dissolved by Metrocities, now offering hard money and bridge loans
Northern Rock (UK) ? seeks Bank of England bailout, issued profit warning
Northern Rock ? sold $4.3 billion mortgage portfolio to JP Morgan Chase
Northern Rock ? to cut 2000 jobs
NovaStar layoffs
Novastar ? closed wholesale unit, facing potentially huge lawsuit, laying off 37% of workforce
Novastar ? cutting 275 jobs, closing 12 retail origination offices
Novastar ? job cuts expected from sale of servicing unit
Novelle Financial ? said to have ceased operations
NVR Mortgage Finance (builder) ? restricted from offering Alt-A, subprime and piggyback loans
Oakmont Mortgage ? closed
Oak Street Mortgage ? closed, files bankruptcy
Ocala National Bank ? shut down by FDIC
Ocwen Financial ? to buy Kent County State Bank
OMG Wholesale ? suspended operations
Opteum ? closed conduit and wholesale operations
Optima Funding ? reported to have ceased operations
Option One ? shut down
Option One ? buyout in jeopardy
Option One ? layoffs, pending sale to Cerberus Capital Management LP
Option One ? cut 50 jobs in Bay Area
Opus Mortgages (UK) ? put into liquidation
Own It Mortgage ? closed
Origen Correspondent Mortgage Group ? to be shut down
Origen Financial ? ceased Texas ops, cut 96 jobs
Oxford Funding ? acquiring Huntington Financial
Pacific American Mortgage (PAMCO) ? no new submissions, halted operations
Paragon Home Lending ? said to be shut down
Paragon Mortgages (UK) ? laid off 62 Mortgage Trust staff
Partners Group Unlimited ? bought out by Mortgage Network Inc.
Paul Financial ? suspends loan origination
Paul Financial LLC ? cut 57 jobs
People?s Choice Financial Corp. ? bankrupt
People?s Mortgage ? closed
PFF Bank and Trust ? shut down by the FDIC
PHH ? merger terminated
PHH Mortgage ? laid off 140 in Providence, 300 more from NJ and FL offices
Pinnacle Direct Funding Corp ? merged with Tri-Star Lending
Pinnacle Financial Corp. ? acquired by Impac Mortgage Holdings, closed
PNC Bank ? discontinued wholesale home equity lending
PNC Bank ? to cut 5,800 jobs
Popular Financial Holdings ? exited the wholesale sub-prime mortgage market
Popular Inc. ? cut 167 loan servicing jobs in New Jersey
Popular Warehouse Lending ? no longer accepting applications
Portellus, Inc. (software) ? winding down mortgage division, selling mortgage assets
Preferred Home Mortgage Co. ? cut 75 jobs
Premier Mortgage Funding, Inc ? filed for bankruptcy
Premium Funding Corp. ? closed
Principal Mortgage Fund, Inc. ? to buy Fair Home Lending Financial, Inc.
Priority Funding Mortgage Bankers ? believed to have ceased operations
Provincial Bank ? acquired United Residential Mortgage
Property Finance Group (New Zealand) ? halted trading amid liquidity concerns
Prospect Mortgage ? to acquire 80 Indymac branches, 750 employees
Prospect Mortgage ? buying Fidelity Trust Mortgage Inc.
Prospect Mortgage ? acquired Indymac branches
Pulte Homes ? 2,000 layoffs
Pulte Mortgage ? layoffs
Pulte Mortgage ? shutting Charlotte processing center, nearly 90 layoffs
Quality Home Loans ? filed for bankruptcy, sold to hedge fund manager Michael Klein
Quick Loan Funding ? layoffs, now reported closed
Quicken Loans Inc. ? suspended new hiring
Quicken Loans ? layoffs
Quicken and RockBridge ? acquired One Reverse Mortgage
QuoteMeARate.com Inc. ? closed
QHL Holdings Fund Ten LLC ? filed for bankruptcy
RAMS Home Loans (Australia) ? warned of profit losses after only two weeks on stock market
Realty Mortgage ? shut down, 300+ layoffs
Regions Financial Corp. ? closed warehouse lending unit
Regions Financial Corp. ? shut Little Rock mortgage servicing facility
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)
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 Mortgage Capital ? suspends operations
Resource Bank ? selling mortgage-related assets to Monarch Bank
Resource Mortgage ? shuttered wholesale division
Reunion Mortgage ? shut wholesale office in Florida
Right Away Mortgage ? closed
RFC ? layoffs
Rooftop Mortgages (Bear Stearns UK mortgage unit) ? to close
Rose Mortgage Corp. ? closed
Sanderson State Bank ? shut down by FDIC
Santa Cruz Mortgage ? suspended operations indefinitely
Saxon Mortgage ? wholesale closed, 1000 layoffs
Saxon ? layoffs, closed correspondent unit
Saxon Mortgage Services ? cut 50 jobs in Texas
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
Sebring Capital Partners ? closed
Secured Bankers Mortgage Company ? halted operations
Secured Funding ? closed
Security National Servicing Corp. ? to cut 31 jobs
Security Pacific Bank ? shut down by FDIC
Shearson Financial Network ? to acquire Dollar Mortgage Corp. (fell through)
Shearson Financial Network ? to file bankruptcy
Silver Hill Financial ? cut 45 jobs
Sierra Pacific Mortgage ? closed several branches
Silver State Bank ? shut down by FDIC
Silver State Mortgage ? closed
Solent Mortgage Services (UK) ? closing its door
Solent Mortgage Services (UK) ? layoffs
Solstice Capital (HSBC retail) ? halted lending, 130 layoffs
Solutions Funding ? closed
Southern Star Mortgage ? cut wholesale lending
Southern Star Mortgage ? halts loan origination
Southstar Funding ? closed
Southwest Bank ? acquired BMC Mortgage Services Inc.
Sovereign Bancorp ? to cut 1,000 jobs
Spectrum Financial Group ? files bankruptcy
Starpointe Mortgage ? closed
Steward Financial ? closed
Stone Creek Funding ? closed
SouthStar Funding ? closed
Southwest Business Corp. ? purchased 15 Home Loan Corp. branches
Suburban Federal Savings Bank ? shut down by FDIC
Summit Financial Group Inc. ? closed residential mortgage unit
Summit Mortgage Co. ? to close
Sunset Direct Lending ? closed
Sunshine Mortgage Corp. ? shut down
SunTrust ? cut 170 jobs
SunTrust Bank ? cut 86 jobs
SunTrust Bank ? closing wholesale lending offices
The Community Bank ? shut down by the FDIC
The Lending Connection ? believed to have laid off staff and ceased operations
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
Thornburg ? bankruptcy fears, suspends fundings
Thornburg Mortgage ? 5 downgrades, selling assets, denied BK, facing Wachovia lawsuit
Thornburg Mortgage ?cut 29 jobs
TierOne ? closed all nine loan production offices
TransLand Financial Services ? facing involuntary Ch. 11 bankruptcy petition, layoffs
Transnational Financial Network ? suspended wholesale lending operations
Triad Guaranty ? halts new business, layoffs
Tri-Star Lending Group ? acquired by Impac Mortgage Holdings
Trojan Lending ? ceased wholesale production
Trump Mortgage ? closed
UBS ? to cut 5,500 jobs
UBS ? to cut another 2,000 jobs
UBS Home Finance ? stops wholesale lending
Ulster Bank (RBS-UK) ? cut 750 jobs, close First Active mortgage unit
Unique Mortgage Solutions ? closed, layoffs
United Equity LLC (Baltimore) ? shut down
Universal American Mortgage Co. ? shut down its processing center, 57 layoffs
Unlimited Loan Resources ? closed
Upland Mortgage ? filed Chapter 11 bankruptcy
USA Federal Credit Union ? layoffs
Valley Vista Mortgage ? shut down all operations
Velocity Commercial Capital, LLC ? layoffs reported
Vertex ? to cut 55 jobs related to DB Mortgages account (Deutsche Bank UK)
Vertical Lend ? changes name to World Alliance Financial
Vertice ? shutting down (Wachovia wholesale lending channel)
Vertice (Wachovia unit) ? undisclosed number of job cuts in third quarter of 2007
Vertice (wholesale mortgage unit of Wachovia) ? cutting 40 more jobs
Victoria Mortgage Funding ? closed (UK subprime lender)
ViewPoint Bankers Mortgage ? acquired 45 former CTX Mortgage employees
Virtual Bank Mortgage ? now Lydian Mortgage
Vision Development Group of Broward County LLC (condo developer) ? Ch. 11 bankruptcy
Wachovia ? halted wholesale lending, 11,000 layoffs
Wachovia ? closed Equibanc, 115 layoffs in bay area
Wachovia ? shut Waterbury, CT retail mortgage office, 65 layoffs
Wachovia ? cut 50 mortgage processing jobs in Boynton Beach, FL
Wachovia ? cut 240 mortgage and banking jobs in San Antonio
Wachovia ? cut 200 positions in corporate and investment banking unit
Wachovia ? reportedly closed four offices in Germany due to crisis
Wachovia ? stopped offering mortgages at many branches, 600 layoffs
Wachovia ? shut mortgage center in Tampa, 57 layoffs
Walter Mortgage Co. ? to wind down mortgage lending
Warehouse USA ? closed
Washington Mutual ? shut down
WaMu ? stopped wholesale lending, 3,000 layoffs
Washington Mutual ? layoffs, halting subprime lending
Washington Mutual ? laying off 50 in Capital Markets
Washington Mutual ? to cut 1,200 jobs
Washington Mutual ? cuts Commercial Correspondent/Wholesale Lending
Washington Mutual ? layoffs, exited warehouse/correspondent market
Washington Mutual ? layoffs as high as 1,000, closing 3 fulfillment centers
Washington Savings Bank ? stopped wholesale lending
Washtenaw Mortgage Company ? closed
WCI Communities ? cut 575 jobs
Webster Bank ? to cease wholesale and correspondent lending
Webster Financial ? to cut 240 jobs
Weichert Financial ? laid off 70+ operations staff
Wells Fargo ? to buy Wachovia
Wells Fargo Home Mortgage ? halts wholesale non-conforming lending
Wells Fargo Alternative Lending Wholesale ? closed, layoffs nationwide
Wells Fargo Home And Consumer Finance Group ? layoffs
Wells Fargo ? layoffs in home equity division
Wells Fargo ? layoffs in Billings, MT
Wells Fargo Home Mortgage ? acquired Pride Mortgage
Wells Fargo Home Mortgage ? cut jobs in Fort Mill, SC
Wescom Credit Union ? exited wholesale lending
WestWorks Mortgage ? closed
Wilmington Finance ? stopped wholesale lending, hundreds of layoffs
Winstar Mortgage ? ceased operations
WMC ? GE?s subprime unit cut 460 jobs, reported closed and for sale
WMC Mortgage ? layoffs
WNS (India outsourcing) ? redeploying employees due to mortgage shakeup
World Savings ? sold to Wachovia
WSB Financial Group Inc. ? cutting 33 mortgage jobs
XBancorp ? closed wholesale
Xceed Mortgage Corp. (CA) ? cut two-thirds of staff (74 jobs)
Xceed Mortgage Corp. (CA) ? issued profit warning, halted dividend
Xceed Mortgage Corp. (CA) ? cut 26 jobs, about 18 percent of staff

Skitzer
02-19-2009, 11:56 AM
Link (http://www.businessinsider.com/obama-stimulus-saves-microsoft-billionaire-hundreds-of-millions-phew-2009-2)

This guy is making out pretty good.

StageLeft
02-19-2009, 12:24 PM
Originally posted by: Skitzer
Link (http://www.businessinsider.com/obama-stimulus-saves-microsoft-billionaire-hundreds-of-millions-phew-2009-2)

This guy is making out pretty good.Damn.

StageLeft
02-19-2009, 07:43 PM
Apparently these avarice-sick (http://www.nytimes.com/2009/02/19/business/economy/19bonus.html?_r=3&hp) people are still getting pretty good money, despite apparently feeling that they are a step away from a bread line, silly buggers.

CADsortaGUY
02-20-2009, 01:11 AM
I know a few well connected companies around here that are going to make tons of $ due to the supposed "stimulus". They happen to be well connected to the D party here in Iowa and also just happen to be union shops. Hmmm... weren't people here taking offense to those who dared suggest alot of this was just a big payoff? Hmmm...
Hell, in my town they are going to repave a main road with this "stimulus" and it's arguably the best road in town - nary a pothole to be had on it as it's only a couple years old in the first place. Likely just get a blacktop coat at a full concrete price...

dahunan
02-20-2009, 04:05 AM
Originally posted by: CADsortaGUY
I know a few well connected companies around here that are going to make tons of $ due to the supposed "stimulus". They happen to be well connected to the D party here in Iowa and also just happen to be union shops. Hmmm... weren't people here taking offense to those who dared suggest alot of this was just a big payoff? Hmmm...
Hell, in my town they are going to repave a main road with this "stimulus" and it's arguably the best road in town - nary a pothole to be had on it as it's only a couple years old in the first place. Likely just get a blacktop coat at a full concrete price...

When will it end..nobody can blame only one side..we have to start blaming ourselves :-(

StageLeft
02-20-2009, 04:54 AM
Originally posted by: dahunan
Originally posted by: CADsortaGUY
I know a few well connected companies around here that are going to make tons of $ due to the supposed "stimulus". They happen to be well connected to the D party here in Iowa and also just happen to be union shops. Hmmm... weren't people here taking offense to those who dared suggest alot of this was just a big payoff? Hmmm...
Hell, in my town they are going to repave a main road with this "stimulus" and it's arguably the best road in town - nary a pothole to be had on it as it's only a couple years old in the first place. Likely just get a blacktop coat at a full concrete price...

When will it end..nobody can blame only one side..we have to start blaming ourselves :-(That hurts too much.

tvarad
02-20-2009, 07:42 AM
In the end, it is like the quote ?Money is like manure, it should be spread around (to do good)". Unfortunately, the ones that get first dibbs when it's spread around are the maggots, flies and other vermin. Hopefully, whatever nutrients are left in it will nurture the beneficial organisms.

rudder
02-20-2009, 08:10 AM
Originally posted by: Skoorb
Well, a lot of money is being spent so certainly somebody's getting hugely rich. Not sure who.



And you will never know. Tucked inside the bill was the creation of the Recovery Accountability and Transparency Board. This board (appointed by the president) has the power to tell inspector generals investigated waste and abuse to lay off whatever they were investigating.

So much for transparency.

CADsortaGUY
02-20-2009, 08:57 PM
Originally posted by: Skoorb
Originally posted by: dahunan
Originally posted by: CADsortaGUY
I know a few well connected companies around here that are going to make tons of $ due to the supposed "stimulus". They happen to be well connected to the D party here in Iowa and also just happen to be union shops. Hmmm... weren't people here taking offense to those who dared suggest alot of this was just a big payoff? Hmmm...
Hell, in my town they are going to repave a main road with this "stimulus" and it's arguably the best road in town - nary a pothole to be had on it as it's only a couple years old in the first place. Likely just get a blacktop coat at a full concrete price...

When will it end..nobody can blame only one side..we have to start blaming ourselves :-(That hurts too much.



Yep, I blame the voters who voted for these thugs and also blame the non-voters who seem to love to stay on the sidelines.

I've talked with a few people who are now part of the state gov't(elected) and we're looking at starting a group to dig through the BS when the money starts flowing and then track them along the way. I have ZERO doubt that there will be monumental waste within this state money coming from the messiah.

postmortemIA
02-21-2009, 01:24 AM
Originally posted by: CADsortaGUY
I know a few well connected companies around here that are going to make tons of $ due to the supposed "stimulus". They happen to be well connected to the D party here in Iowa and also just happen to be union shops. Hmmm... weren't people here taking offense to those who dared suggest alot of this was just a big payoff? Hmmm...
Hell, in my town they are going to repave a main road with this "stimulus" and it's arguably the best road in town - nary a pothole to be had on it as it's only a couple years old in the first place. Likely just get a blacktop coat at a full concrete price...

Ankeny Blvd? I haven't seen a bad street in your town, that is major WTF. Seems like most Iowa programs are in capital, and roads are the best in capital when compared to rest of state...

that page looks silly, only 2 cities in whole state, that have about 1/3 of population together get all projects.