Who is getting rich off the bailouts

Discussion in 'Politics and News' started by LordSegan, Feb 19, 2009.

  1. LordSegan

    LordSegan Diamond Member

    Nov 6, 1999
    Likes Received:
    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?
  2. StageLeft

    StageLeft No Lifer

    Sep 29, 2000
    Likes Received:
    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.
  3. heyheybooboo

    heyheybooboo Diamond Member

    Jun 29, 2007
    Likes Received:
    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
    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
  4. Skitzer

    Skitzer Diamond Member

    Mar 20, 2000
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    This guy is making out pretty good.
  5. StageLeft

    StageLeft No Lifer

    Sep 29, 2000
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  6. StageLeft

    StageLeft No Lifer

    Sep 29, 2000
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    Apparently these avarice-sick people are still getting pretty good money, despite apparently feeling that they are a step away from a bread line, silly buggers.
  7. CADsortaGUY

    CADsortaGUY Lifer

    Oct 19, 2001
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    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...
  8. dahunan

    dahunan Lifer

    Jan 10, 2002
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    When will it end..nobody can blame only one side..we have to start blaming ourselves :-(
  9. StageLeft

    StageLeft No Lifer

    Sep 29, 2000
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    That hurts too much.

  10. tvarad

    tvarad Golden Member

    Jun 25, 2001
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    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.
  11. rudder

    rudder Lifer

    Nov 9, 2000
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    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.
  12. CADsortaGUY

    CADsortaGUY Lifer

    Oct 19, 2001
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    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.
  13. postmortemIA

    postmortemIA Diamond Member

    Jul 11, 2006
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    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.