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– wholesale division closed Altisource Portfolio Solutions – cut 800 jobs Altisource Portfolio Solutions – acquired Mortgage Builder Altivus Financial – closed wholesale operations, now believed to be shut down AMC Lending –ceases wholesale lending AMC Mortgage – acquired by Transnational Financial Network Inc.Amcore Bank, National Association – shut by FDIC Ameri Banc Corp. – shut down by FDIC America One Finance – winding down America West Bank – shut by FDIC American First Bank – shut by FDIC Americas Bank – shut mortgage unit American Advisors Group – acquired the assets of Associated Mortgage Bankers American Brokers Conduit – shut down all operations American Business Financial Services – closed American Capital Mortgage Investment – acquired Residential Credit Solutions, Inc.Given how bad things got, this isn’t too surprising.Guild Mortgage to acquire Cornerstone Mortgage Randolph Savings Bank cutting 16 mortgage employees (8% of staff) Wintrust Mortgage acquires Veterans First Mortgage Atlantic Bay Mortgage cuts a dozen jobs New Residential acquires Shellpoint Partners (New Penn Financial) U. Bank exiting wholesale mortgage lending First Guaranty Mortgage Corp.And mortgage repurchase requests have tripled between the first and second quarter of 2006 alone thanks to shoddy underwriting.Not to mention declining home values in almost every metropolitan area throughout the United States, sky-high home prices at time of origination, rising mortgage rates, rampant fraud, a deteriorating secondary market, and unmanageable mortgage payments.– merged with NYLX, create Loan Logics Alabama Trust Bank, National Association – shut by FDIC All American Bank – shut by FDIC Allegiance Bank of North America – shut by FDIC Allendale County Bank – shut down by FDIC Alliance Bancorp – closed, filed for Ch.

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to purchase assets of American Southwest Mortgage Corp. Capital One exits mortgage business New Leaf Wholesale layoffs TCF Bank to acquire Rubicon Mortgage Advisors, LLC Del Sur Mortgage merges with Academy Mortgage Corporation Goldman Sachs acquires Genesis Capital Stearns Lending cutting 159 jobs in Orange County, CA Ocwen halts wholesale lending (forward), potential layoffs The Farmers and Merchants State Bank of Argonia (KS) closed by FDIC CIT Group to sell Financial Freedom, exit reverse mortgage business Home Street Bank to cut 133 mortgage jobs Bank of America mortgage layoffs in Charlotte, NC Peoples Bank to shut mortgage office in Westerville, OH, 31 layoffs Wells Fargo to cut 120 jobs at reverse-mortgage servicing operation in Fort Mills, SC Provident Bank layoffs in Riverside, CA Wells Fargo cuts 40 mortgage jobs in Des Moines, IA PHH Mortgage to cut 2250 jobs in New Jersey New York Community Bank to cut 200 jobs in Cleveland when it exits mortgage business Inter First Mortgage shuts down Atlantic Bay Mortgage Group to merge with Virginia Community Bank Academy Mortgage Corp.– acquired Republic Mortgage Home Loans Ace Mortgage Funding – shut down Accenture – cut 45 Charlotte jobs thanks to slowdown in refinancing Accenture – purchased software company Mortgage Cadence Access Bank – shut by FDIC Access National Corporation – closed Denver mortgage production branch, potential layoffs Accredited Home Lenders – filed bankruptcy 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 shut down retail lending business, agreed to Lone Star buyout Accredited Home Lenders – shuts four operations centers, layoffs Accredited Home Lenders – cuts 38 jobs in Cincinnati ACC Capital Holdings – mass layoffs, closed Ameriquest, sold wholesale to Citigroup Acoustic Home Loans – subprime wholesale lender closed its doors ACT Mortgage Capital – suspended all submissions/funding until further notice Adfitech Inc. – shut by FDIC 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 Affiliated Mortgage – shut its correspondent lending division, cut 31 jobs Affinity Bank (CA) – shut by FDIC Aklero Risk Analytics Inc.to acquire certain assets from Residential Credit Solutions Residential Credit Solutions to close Fort Worth facility, 134 layoffs Chase to shutter mortgage customer assistance office in Milwaukee, 135 layoffs AIG to spin off United Guaranty Corp., possible job cuts Redwood Trust to stop buying GSE loans, cutting quarter of staff Barclays to halt certain MBS trading in U.S., layoffs Bank United halts retail mortgage lending, layoffs Ditech to exit retail channel, ~200 layoffs Finance of America Mortgage to exit correspondent channel Fannie Mae to consolidate three Dallas offices, possible layoffs First Bancshares to acquire The Mortgage Connection, LLC Wells Fargo to cut 122 mortgage jobs in San Bernardino Wells Fargo to relocate ~350 mortgage servicing workers from Charlotte to Fort Mill, S.

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