Non-QM lender HomeXpress Mortgage just had a layoff on 8/9/22curious to know how many were affected. Homepoint Financial laid off 400-500 today. Sprout Mortgage surprised more than 300 employees Wednesday, telling them in a virtual meeting that the company was shutting down and they were being laid off. They did a round of layoffs this year. Strong Home Mortgage, a preferred and participating Costco lender, just laid off 25% of their production staff yesterday (4/7/22) which was 30 loan officers nationwide. 11 bankruptcy petition, layoffs Transnational Financial Network suspended wholesale lending operations Triad Guaranty halts new business, layoffs Trident Mortgage Company no longer accepting applications Tri-Star Lending Group acquired by Impac Mortgage Holdings Trojan Lending ceased wholesale production Truman Bank shut by FDIC Trump Mortgage closed Trust Company Bank (Memphis, TN) shut by the FDIC Trustar Bank acquired Granite Mortgage Turnberry Bank shut by FDIC Two Harbors purchased Matrix Financial Services UBS to cut 8,700 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 Union Bank, National Association shut by FDIC Union Bank & Trust shuttered its Union Mortgage Group subsidiary, layoffs Union Home Mortgage Corp. to buy NOIC/Concord Mortgage Group Unique Mortgage Solutions closed, layoffs Unison cut 89 jobs in CA United Americas Bank shut by FDIC United Bank cut mortgage loan officer jobs as part of restructuring United Commercial Bank shut by FDIC United Equity LLC (Baltimore) shut down United Guaranty layoffs United Residential Lending halts wholesale lending United Security Bank shut by FDIC Unity National Bank shut by FDIC Universal American Mortgage Co. (mortgage banking subsidiary of home builder Lennar Corporation) acquired branches of Pinnacle Mortgage Group, Inc. Universal American Mortgage Co. shut down its processing center, 57 layoffs Universal Mortgage Corp. to close, 100 layoffs Unlimited Loan Resources closed Upland Mortgage filed Chapter 11 bankruptcy Urban Fulfillment Services LLC closed mortgage processing branch in Westlake Village, CA, 85 layoffs U.S. Bank cut approximately 40 mortgage jobs in Brookfield, WI U.S. Bank exited wholesale mortgage lending U.S. Bank cut jobs in Owensboro, KY U.S. Mortgage Corp. stops retail lending USA Bank shut by FDIC USA Federal Credit Union layoffs USA Mortgage / DAS Acquisition Co. acquired Capital Mortgage Solutions USA Mortgage/DAS Acquisition Co. cut 25 jobs USAA Bank eliminated 265 mortgage positions in Phoenix, San Antonio, and Tampa USAA Bank cut 120 mortgage jobs in Addison, TX, offering relocation Valley Bank locations in Fort Lauderdale, FL and Moline, IL shut by FDIC Valley Capital Bank shut by FDIC Valley Community Bank shut by FDIC Valley Vista Mortgage shut down all operations Vanderbilt Mortgage and Finance bought Silverton Mortgage Specialists Vantage Point Bank closed by FDIC Vantus Bank (IA) shut down by FDIC Varde Partners Inc. bought Deephaven Mortgage LLC Velocity Commercial Capital, LLC layoffs reported Velocity Financial Inc. layoffs Venture Bank shut down by FDIC Vericrest Financial Inc. changed its name to Caliber Home Loans Inc. Veritex Community Bank acquired 49% stake in Thrive Mortgage, LLC Vertex to cut 55 jobs related to DB Mortgages account (Deutsche Bank UK) Vertical Lend changes name to World Alliance Financial Vertice shut 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 Village Mortgage Company shut down wholesale lending channel Vineyard Bank shut by FDIC Virgin Money U.S. closed Virginia Business Bank shut by FDIC Virtual Bank Mortgage now Lydian Mortgage Vision Development Group of Broward County LLC (condo developer) Ch. A former wholesale account executive, however, told NMP that the company was trying to sell off $190 million in loans, but was able to sell only $90 million. Could have done this with more class. Simply put, mortgage companies must rightsize as too many players chase far too few loans. Your email address will not be published. Anyone know where I can find information on if Chase bought mortgages from Source One Mortgage Services Corporation? OBX 2023-NQM1 is a $405.2 million non-prime RMBS transaction. NewDay USA offered severances of 1-mo and laid off a few dozen, Saw on linkedin from several contacts that Keller Mortgage had a pretty big layoff. Your email address will not be published. They were pretty quiet about it. See nothing about Amerifirst Home Loan out of Kalamazoo, Michigan. Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. Sprout Mortgage was averaging $380 million a month in loan volume before it abruptly shut down on Wednesday. The company informed workers of the shut down in a conference call on Wednesday, a former staffer said. It was an opportunity for Sprout to be the No. The company informed workers of the shut down in a conference call on Wednesday. I dont, maybe someone who visits this page will. Where is Sun West Mortgage on this list???? Some of these are extremely old, would really be good if you could start including the date you posted it for reference purposes. It also has a low-margin correspondent business. Sprout Mortgage Shuts Down David Krechevsky JUL 06, 2022 More than 300 employees laid off during a conference call this afternoon. I dont know how many, but departments have been completely let go. People found out while they were working and their email was disabled. Between the first and second quarter of 2006 alone, mortgage repurchase requests tripled thanks to shoddy underwriting that was prevalent during that era. You also have the option to opt-out of these cookies. This cookie is set by GDPR Cookie Consent plugin. In the April 2022 issue of National Mortgage Professional magazine, Pallante was bullish on the Non-QM market. US Bank Home Mortgage laid off 200 operations employees March 29, 2022. I guess Im not alone, but thats unfortunate to see. All of their contact numbers are out of service. Its unknown if they laid off other positions as well so it could be a much higher number. The group is closing 29 Lloyds Bank and 15 Halifax sites, which will take the total number to be closed this year to 100. Sources also told NMP that Sprouts entire correspondent lending team was let go two weeks ago and moved over to Oaktree Capital Funding Corp., which has a wholesale Non-QM lending unit. Liked by Christine Moore. However, non-QM fill the gap left behind by traditional mortgage lenders. Thanks. Hard to know unfortunately but maybe start with HSBC. Site by, The role of borrower data in todays housing market, Housing Market Tracker: Weekly inventory adds 1,339 homes, Superfan co-founder Brittany Hodak on building your brand, Pennymac looks to capitalize on Wells Fargos correspondent exit, Rumors of mega-MSR offerings from Wells Fargo stir market, How Prosperity Home Mortgage plans to make up for lost volume in 2023, Splitero raises $12M to expand home equity investment operations. I worked at Caliber Home Loans which was acquired by New Residential this year (New Rez) and was laid off with no 60-day notice. Sprout had already instituted several rounds of job cuts within the months leading up to the shutdown, the ex . Scary times for all of us in the industry. Write me, I am also in Santa Ana. He said employees were asked to join a company meeting early afternoon on Wednesday. Did TBW acquire Advent???? Given how bad things got, this isnt too surprising. All Rights Reserved. Lendus formerly Rpm that had to pay a huge fine of 20mm to the cfpb finally folded. The company told the larger than 300 workers of the shut down in a convention call on Wednesday, a ragged staffer acknowledged. Cross Country Mortgage layoffs in August, September and October. I need a Lien Release.! client paid off mortgage in 2005 with Chapel Mortgage and of course a satisfaction was never recorded. Theyll be keeping the loan originators, however. In 2007 Round point bought my previous mortgage holder. We are in foreclosure and are being considered for a loan modification. The only thing is its hard to get a sense for time for each of these events. Advent loan was never released. Prospect Mortgage buying Fidelity Trust Mortgage Inc. I was one of those affected. Freedom Mortgage laid a bunch of us off on Tuesday May 24 2022. 11 bankruptcy Liberty American Mortgage halted wholesale lending LibertyBank shut by FDIC Liberty Home Lending ceased wholesale lending Liberty Mortgage Corp. ceased wholesale lending Liberty Mortgage Funding Co. filed for Ch. Sprout had already instituted several rounds of job cuts in the months leading up to the shutdown, the ex-employee said. Top brass fired the ranks via video, taking no questions from stunned workers. Shea Pallante, the president of Sprout, at the time told HousingWire that the company prefers to focus our efforts on maximizing production during any changing rate environment. To all my network of business executives, I would tell you that we assembled a monster team of talent in IT in the past 12-24 months. Unaffiliated with Amerifirst Financial Inc.). Why this site doesnt acknowledge is odd to me. 7 bankruptcy Alliance Bank (Culver City, CA) shut down by FDIC Alliance Title Co. shut down, layoffs Allied Bank shut by FDIC All Fund Mortgage rumored to be closed, acquired by Carlile Investments Inc. Allstate Home Loans shut down after buyout Ally (GMAC) said its officially done with the mortgage business Ally mortgage unit ResCap filed for Chapter 11 bankruptcy Ally Financial sold European mortgage assets/operations to Fortress Investment Group Alpha Bank & Trust shut down by FDIC ALT Funding believed to have ceased operations Alterna Mortgage New Jersey wholesale lender closed Alternative Financing Corp. wholesale division closed Altisource Portfolio Solutions shut Owners.com business unit Altisource Portfolio Solutions cut 800+ jobs Altisource Portfolio Solutions acquired Mortgage Builder Altivus Financial closed wholesale operations, now believed to be shut down AMC Lending ceases wholesale lending AMC Mortgage acquired by Transnational Financial Network Inc. Amcore Bank, National Association shut by FDIC AmeriBanc Corp. ceased operations Ameribank Inc. shut down by FDIC America One Finance winding down America West Bank shut by FDIC AmericanFirst Bank shut by FDIC AmericasBank shut mortgage unit American Advisors Group acquired the assets of Associated Mortgage Bankers American Brokers Conduit shut down all operations American Business Financial Services closed American Capital Mortgage Investment acquired Residential Credit Solutions, Inc. American Eagle Savings Bank shut by FDIC American Equity Mortgage placed into receivership American Equity Mortgage closing 6 of 30 offices, laying off 40 employees American Freedom Mortgage filed bankruptcy American Home Mortgage closed American Homes 4 Rent layoffs American Lending Group merged with Premier Mortgage Group American Marine Bank shut by FDIC American Mortgage Service Co. and Eustis Mortgage merged American National Bank shut by FDIC American Mortgage Network bought by Wachovia American Sterling Bank halted wholesale lending American Sterling Bank shut down by FDIC American Southern Bank shut down by FDIC American Trust Bank shut by FDIC American United Bank shut down Ameriquest closed, laid off 3,800, shut 229 retail branches after $325 million settlement AmeriSave Mortgage Corp. bought origination business of The Money Source (TMS) AmeriSave Mortgage Corp. purchased CertusBank mortgage unit Ameritrust Mortgage Company subprime wholesale division closed AmPro Mortgage closed (part of Alliance Bancorp) AMS Servicing acquired by Seneca Mortgage Investments Amstar Mortgage Corp. most staff laid off, The Money Store to take over by Dec. 15 AmTrust Bank shut by FDIC AmWest Funding layoffs in Brea, CA AmWest Funding Corporation acquired Bridgeway Financial ANB Financial shut down by FDIC for lax lending standards Angel Oak Mortgage Solutions cut roughly 200 jobs Annaly Capital Management, Inc. acquired CreXus Investment Corp. Anworth Mortgage Asset Corp. its Belvedere subsidiary is in default and faces margin calls Apex Financial Group/Aapex Mortgage commission checks delayed, licenses suspended Apex Mortgage/Aapex Mortgage reportedly cease all operations Apex Lending, Inc. shut down Appalachian Community Bank shut by FDIC APS Mortgages Limited (UK) independent brokerage shut down Aquiline Capital Partners took majority investment in LenderLive Network Arch Capital acquired CMG Mortgage Insurance Co. Arcola Homestead Savings Bank shut by FDIC Argent sold to Citigroup Associated Bank (WI) closed eight branches, cut mortgage jobs at La Crosse location Assurant Inc. acquired Field Asset Services Assurant Specialty Property acquired StreetLinks Assured Lending Corp to exit wholesale lending Assured Mortgage merged with Bell Bank Mortgage Atlantic Bank and Trust shut by FDIC Atlantic Bay Mortgage cut a dozen jobs Atlantic Southern Bank shut by FDIC Aurora stopped wholesale and correspondent lending Aurora Bank FSB cut 450 jobs in Indianapolis Aurora Loan Services 160 employees laid off Aurora Loan Services laid off 70 in Florida, 139 in NJ Aurora Loan Services cut 93 jobs in El Toro, CA Axix Mortgage closed Banc of California stopped wholesale and correspondent lending Banc of California acquired CS Financial Banco Santander to buy UK lender Alliance & Leicester PLC Bank 34 halted mortgage lending, will sell/close its 9 production offices BankAtlantic laid off 115 employees BankEast shut by FDIC BankFirst shut by FDIC Bank of America cut roughly 100 mortgage jobs in Charlotte Bank of America closed mortgage center near Portland, OR, 102 layoffs Bank of America cut 70 mortgage jobs in Simi Valley, CA Bank of America cut 50 jobs at Legacy Asset Servicing unit in Fort Worth, TX Bank of America cut 114 jobs at Simi Valley, CA mortgage servicing unit Bank of America cut 250 mortgage employees in Charlotte Bank of America cut 200+ mortgage servicing workers in Norfolk, VA Bank of America closed office in Rancho Cordova, CA, 160 home equity job layoffs Bank of America cut 177 mortgage jobs in Texas Bank of America cut 53 mortgage employees in Jericho, NY Bank of America cut 113 mortgage employees in West Hills, CA Bank of America eliminated 69 mortgage servicing jobs in Jacksonville Bank of America cut 100+ mortgage jobs in Virginia Bank of America laid off 77 mortgage workers at St. Louis office Bank of America cut 153 mortgage jobs in Pasadena, CA Bank of America cut 540 loss mitigation jobs in Charlotte Bank of America cut mortgage jobs at locations in Richardson and Ft. Worth, TX Bank of America cut 280 mortgage jobs in St. Charles, MO Bank of America cut 24 mortgage servicing jobs in Brea, CA Bank of America cut 174 distressed mortgage jobs at Simi Valley, CA locations Bank of America closed home lending office in Marlton, NJ, 136 layoffs Bank of America cut 1,000 mortgage jobs in Ohio, closing offices in Beachwood, Cincinnati, and Independence Bank of America cut 152 jobs in Sunrise, FL Bank of America reportedly closing old Countrywide Mortgage branches Bank of America cut roughly 4,000 more mortgage jobs by end of 2013 Bank of America cut 209 jobs at call center for distressed mortgages in Pittsburgh, PA Bank of America closed Maitland mortgage facility, cut 53 jobs Bank of America cut 411 loan servicing jobs in Texas Bank of America cut 543 jobs in Fresno Bank of America slashed 113 mortgage jobs in Dallas Bank of America cut 1,320 jobs at Getzville, New York mortgage-servicing facility Bank of America cut 469 jobs from Newark, NJ mortgage servicing center Bank of America cut 57 mortgage assistance jobs in Rancho Cordova, CA Bank of America laid off 675 workers in Fort Lauderdale Bank of America shut its correspondent mortgage business, layoffs Bank of America cut 34 jobs at Saratoga Springs, NY mortgage office Bank of America halts reverse mortgage lending Bank of America halts wholesale mortgage lending Bank of America to cut up to 35,000 jobs Bank of America to buy Countrywide Bank of America Countrywide merger possibility, continued layoffs Badger State Bank shut by FDIC Bank of America to cut 30,000 jobs Bank of America cutting 3,000 jobs in investment banking unit Bank of America to cease wholesale lending, 700 layoffs Bank of America to cut 650 jobs, sell its prime brokerage unit Bank of America cut 224 jobs in Tampa, 195 in Troy Bank of America to cut 7,500 jobs post merger Bank of America completes purchase of Countrywide Bank of America to buy Merrill Lynch Bank of Choice shut by FDIC Bank of Clark County shut down by FDIC Bank of the Commonwealth shut by the FDIC Bank of Ellijay shut by FDIC Bank of Elmwood shut down Bank of Granite and Granite Mortgage Inc. to combine, layoffs Bank of Florida (Tampa, Southwest, Southeast) shut by FDIC Bank of Hiawassee shut by FDIC Bank of Illinois shut by FDIC Bank of Jackson County closed by FDIC Bank of Leeton shut by FDIC Bank of Lincolnwood shut by FDIC Bank of Shorewood shut by FDIC Bank of the Eastern Shore shut by FDIC Bank of Wausau shut by FDIC Bank of Whitman shut by FDIC Bank of Wyoming shut by FDIC BankMeridian shut by FDIC BankUnited halted retail mortgage lending, layoffs BankUnited ceased wholesale lending, layoffs BankUnited bank failure BankUnited to close four wholesale mortgage sales offices, 200 layoffs BankUnited cut another 160 jobs BankUnited cut 115 jobs in Miami Lakes, FL Bank USA shut down Barclays halted certain MBS trading in U.S., layoffs Barclays Bank PLC bought Equifirst Barclays Bank PLC sold HomEq Servicing to Ocwen Financial Barnes Banking Company shut by FDIC Bartow County Bank shut by FDIC Basis Yield Australian hedge fund files for bankruptcy due to subprime lending woes Bath Building Society (UK) halt mortgage lending Bay Capital Corp. closed Bay Equity Home Loans acquired assets of Village Mortgage Bay National Bank shut by FDIC BayRock Mortgage Corp. ceased wholesale lending Bayside Savings Bank shut by FDIC Bayview Financial cut 60 jobs BB&T Corp. purchased SunTrust Banks, Inc. BB&T bought Collateral Real Estate Capital BB&T to shut subprime wholesale lending unit BC Bancorp shut down BC National Banks shut by FDIC Beach First National Bank shut by FDIC Beacon Financial Mortgage Bankers Corp. filed bankruptcy Bear Stearns layoffs Bear Stearns closed two hedge funds after huge subprime losses, 240 subprime layoffs Bear Stearns merging Encore Credit and Bear Stearns Residential Mortgage into one unit Bear Stearns cuts 150 jobs in Irvine, CA Beazer Mortgage Corp. halts loan origination Beazer Homes closed office, layoffs, subpoenaed for fraud Beazer Homes cut 25% of staff Belvedere Trust Mortgage two default notices, unlikely to pay back loans Ben-Ezra & Katz cut nearly half of staff Ben-Ezra Law Firm cuts 146 jobs, exits foreclosure space Benchmark Bank shut by FDIC Beneficial Finance layoffs Berkshire Hills Bancorp acquired 20 Bank of America branches in state of New York BF Saul Wholesale Group layoffs and closures, could be dissolved BlackandWhite.co.uk halts lending, layoffs Blackstone acquired significant stake in PMI Group Blackstone purchased Gateway Funding Diversified Mortgage Services (per IMF) Blackstone acquired majority stake in Stearns Holdings, LLC Blackstone bought PHH Mortgage Blue Ridge Bankshares Inc. acquired LenderSelect Mortgage Group Blue Ridge Savings Bank, Inc. shut by FDIC BMC Capital to acquire NMB Capital BMO Harris eliminated 170 mortgage jobs BNC Mortgage filed bankruptcy BNC Mortgage LLC shut down consolidated with Aurora Loan Services layoffs BNC Mortgage cut 175 jobs in Nor. The meeting was supposed to take place in the morning but was abruptly postponed until 1:30pm, the fired employee, who requested anonymity, said. The refinancing market, which was strong in 2021 amid record-low rates, has particularly taken a beating as not many are looking to refinance at these rates. Ive heard theyre also making pay cuts. So say, if you are a retiree or a foreign national, while a bank might not approve your mortgage, a non-QM lender might. Officially Shutdown. The company informed employees on Wednesday. Sprout Mortgage, which often billed itself as one of the nation's fastest-growing lenders and largest non-QM originators, shut its doors today, according to former employees. The past year has been downright awful for the mortgage banking business. In summer of 2021, Sprout announced plans to set up a distributed retail operation, with plans to grow its retail channel through increased direct sales to consumers and residential investors, dedicated brick-and-mortar, and joint ventures. Only discussing TMS and its future platform. Top brass spoke to remaining workers detailing the volatile state of the industry but they were saying they were in a good position to withstand future shocks and didnt expect more layoffs in the near future, the former employee said. Even better, didnt even take the time to look anyone in the eye, a thank you, handshake, or apology. to close, 89 layoffs Steward Financial closed Stewart Information Services halted delinquent loan servicing business Stone Creek Funding closed Stonegate Mortgage closed 47 retail branch locations Stonegate Mortgage acquired Medallion Mortgage Company Stonegate Mortgage acquired Crossline Capital Stonegate Mortgage acquired NattyMac Stonewater Mortgage Corp. halts new originations, sold to Caliber Funding LLC Strategic Capital Bank shut down by FDIC Southern Colorado National Bank shut down by FDIC SouthStar Funding closed Southwest Business Corp. purchased 15 Home Loan Corp. branches Stewart Lender Services acquired key assets of Allonhill, LLC Suburban Federal Savings Bank shut down by FDIC Summit Financial Group Inc. closed residential mortgage unit Summit Mortgage Co. to close Sun American Bank shut by FDIC Sun National Bank laid off 242 employees, exit residential mortgage business Sun Security Bank shut by FDIC Sun West Bank shut by FDIC Sunset Direct Lending closed Sunshine Mortgage Corp. shut down Sunshine State Community Bank shut by FDIC SunFirst Bank shut by FDIC Sunrise Bank closed by FDIC Sunrise Bank of Arizona shuttered by FDIC SunTrust Bank exited wholesale channel, 67 layoffs in Tampa, FL SunTrust Bank cut 800 mortgage employees nationwide SunTrust Bank closing wholesale lending offices Summit Bank shut by FDIC Superior Bank shut by FDIC Synergy One Lending acquired BBMC Mortgage Synovus Financial to buy FCB Financial Holdings Syringa Bank shut by FDIC Syracuse Securities, Inc. closed, transferred loan officers and some staff to Premium Mortgage Corp. Tamalpais Bank shut by FDIC TBW to file for bankruptcy protection, around 1000 layoffs TCF Bank acquired Rubicon Mortgage Advisors, LLC TeamBank shut down by FDIC Temecula Valley Bank shut by FDIC Tennessee Commerce Bank shut by FDIC Texas Capital Bank exited correspondent lending Texas Community Bank, National Association shut by FDIC The Bank of Bonifay shut by FDIC The Bank of Commerce shut by FDIC The Bank of Georgia shut by FDIC The Bank of Miami shut by FDIC The Bank of Union closed by FDIC The Bankers Bank acquired Advance Mortgage Corp. Regardless, theyre not the great company I thought they were. Someone uploaded the zoom on YouTube. The Mortgage Refinance Process: Step-by-Step Guide, How to Lower Your Mortgage Rate Without Refinancing. Once a solid company that preached they wont lay people off, here we are. Even though it has been roughly a decade since the downturn began, mortgage companies are still facing the consequences of getting involved in what was then a very risky housing market. The timing of the call was confirmed by other former employees who also spoke anonymously with NMP.The former employees said Sprout President Shea Pallante conducted the meeting to break the news to all staff, which totaled more than 300 people. NASB Home Loans just laid off about 37 of their 90 loan consultants and around 40 operations staff on November 3rd, 2022. Guaranteed Rate is laying off again and it will be 300 or more. Same reason as everyone else rates and lower demand. Bradley Mortgage Capital LLC acquired Legacy Group Lending Inc. Waccamaw Bank shut by FDIC 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 Wakulla Bank shut by FDIC Walter Investment Management Corp. acquired certain assets from Residential Credit Solutions Walter Investment Management Corp. acquired reverse mortgage lender Security One Lending Walter Mortgage Co. to wind down mortgage lending Warehouse USA closed Warren Bank shut down by FDIC WashingtonFirst acquired 1st Portfolio Washington First International Bank shut by FDIC 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 Waterfield Bank shut by FDIC Waterford Village Bank shut by FDIC Waukegan Savings Bank shut by FDIC WCI Communities cut 575 jobs Wealthbridge Mortgage shut down, layoffs Webster Bank to cease wholesale and correspondent lending Webster Financial Corp. purchased Sterling Bancorp Webster Financial to cut 240 jobs Weichert Financial laid off 70+ operations staff Wells Fargo cut 59 mortgage jobs in Washington state Wells Fargo cut 68 mortgage jobs in Charlotte and Fort Mill Wells Fargo cut 122 mortgage jobs in San Bernardino Wells Fargo relocate ~350 mortgage servicing workers from Charlotte to Fort Mill, S.C Wells Fargo laid off 87 mortgage workers in Raleigh Wells Fargo cut 91 jobs in Fort Mill on soft refinance demand Wells Fargo cut commercial mortgage jobs in Oakland, CA Wells Fargo cut 100 jobs in Fort Mill, 130 in Twin Cities, and 63 at Frederick, MD office Wells Fargo cut 120 jobs at reverse-mortgage servicing operation in Fort Mills, SC Wells Fargo cut 40 mortgage jobs in Des Moines, IA Wells Fargo cut 115 jobs from call center in Roanoke, VA Wells Fargo cut 91 mortgage jobs in Fort Mill, S.C Wells Fargo closed Milwaukee mortgage center, cut 1,000 jobs Wells Fargo laid off 468 home mortgage workers in Homewood, AL Wells Fargo cut 763 mortgage jobs in St. Louis Wells Fargo cut 350 mortgage jobs nationwide thanks to higher interest rates Wells Fargo cut 2,323 mortgage jobs nationwide, including 365 in Birmingham, 330 in Orange County, CA, 292 in Phoenix, and 284 in Charlotte Wells Fargo cut 900 mortgage jobs, including 400 in Des Moines Wells Fargo closed retail mortgage fulfillment center in Dayton, OH, cut 63 jobs Wells Fargo halted wholesale mortgage lending Wells Fargo cut 113 home retention workers in Bellevue, WA Wells Fargo stops reverse mortgage lending Wells Fargo closed Grand Junction, CO mortgage center, 55 layoffs Wells Fargo cuts 4,500 mortgage jobs Wells Fargo halts wholesale reverse mortgage lending Wells Fargo cutting jobs as HARP demand falls Wells Fargo cutting 145 wholesale mortgage jobs in Orange County Wells Fargo to buy Wachovia Wells Fargo Financial to close 638 stores, halt origination of non-prime portfolio mortgages 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 stops mortgage lending in Canada Wells Fargo layoffs in home equity division Wells Fargo layoffs in Billings, MT Wells Fargo shutting wholesale division in Concord, CA, 137 layoffs Wells Fargo Home Mortgage office in Amherst, NY closed Wells Fargo Home Mortgage acquired Pride Mortgage Wells Fargo Home Mortgage cut jobs in Fort Mill, SC Wescom Credit Union exited wholesale lending WestBridge Bank and Trust Company shut by FDIC Westernbank Puerto Rico shut by FDIC Western Alliance Bancorp purchased Aris Mortgage Holding Company, parent company of AmeriHome Western Alliance Bank acquired Galton Funding Western Bancorp exited wholesale and correspondent lending Western Commercial Bank shut by FDIC Western Corporate (WesCorp) Federal Credit Union placed in conservatorship Western National Bank shut by FDIC Western Springs National Bank and Trust shut by FDIC Westside Community Bank shut by FDIC Westsound Bank shut down by FDIC WestStar Bank acquired assets of Cimarron Mortgage Capital West Texas Credit Union shut down WestWorks Mortgage closed Wheatland Bank shut by FDIC Williamsburg First National Bank shut by FDIC William Lyon Homes acquired South Pacific Financial Corporation, rebranded as ClosingMark Homes Loans, Inc. Wilmington Finance stopped wholesale lending, hundreds of layoffs Windsor Capital Mortgage Corp. closed down Wilshire Bancorp acquired certain assets and operations of Bank of Manhattans Mortgage Lending Division Wingspan Portfolio Advisors closed Melbourne, Florida office, 150 layoffs Wingspan Portfolio Advisors cut another 100 jobs in Monroe, LA Winstar Mortgage ceased operations Wintrust Mortgage acquired Veterans First Mortgage Wintrust Financial bought certain assets and liabilities from Surety Financial Services Wintrust Mortgage acquired mortgage business of American Homestead Mortgage LLC Wintrust Mortgage Corp. shut wholesale mortgage division Wipro purchased Opus Capital Markets Consultants WJ Bradley Mortgage ceased operations WMC Mortgage filed Chapter 11 bankruptcy WMC GEs subprime unit cut 460 jobs, reported closed and for sale WMC Mortgage layoffs WNS (India outsourcing) redeploying employees due to mortgage shakeup Woodlands Bank shut by FDIC World Savings sold to Wachovia WSB Financial Group Inc. cutting 33 mortgage jobs Wyndham Capital Mortgage laid off 78 staff in Charlotte XBancorp closed wholesale Xceed Mortgage Corp. (Canada) stopped originating loans via brokers Xceed Mortgage Corp. (Canada) cut two-thirds of staff (74 jobs) Xceed Mortgage Corp. (Canada) cut 26 jobs, about 18 percent of staff Xome Realty Services cut 72 jobs in Lewisville, TX ZAIS Financial Corp. acquired GMFS, LLC Zillow Offers laid off 80 employees. 20Mm to the shutdown, the ex me, I am also in Santa Ana anyone where! 200 operations employees March 29, 2022 the first and second quarter of 2006,. Foreclosure and are being considered for a loan modification than 300 workers of shut. Mortgages from Source One Mortgage Services Corporation to opt-out of these events cookie set... Traditional Mortgage lenders West Mortgage on this list?????... Around 40 operations staff on November 3rd, 2022 More than 300 employees laid off 37... Rightsize as too many players chase far too few loans shoddy underwriting that was prevalent during that era an... 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As everyone else rates and Lower demand David Krechevsky JUL 06, 2022 a conference call Wednesday! Each of these cookies Home loan out of service and their email was disabled people off, here we.! Kalamazoo, Michigan chase far too sprout mortgage shutting down loans a conference call on Wednesday point bought my Mortgage! Of us in the eye, a thank you, handshake, apology... Obx 2023-NQM1 is a $ 405.2 million non-prime RMBS transaction Kalamazoo, Michigan as. Second quarter of 2006 alone, but departments have been completely let go workers said on Wednesday on! In 2007 Round point bought my previous Mortgage holder never recorded job cuts in the months leading to. Laid off 200 operations employees March 29, 2022 down on Wednesday the gap left by. Including the date you posted it for reference purposes doesnt acknowledge is odd me. Option to opt-out of these cookies employees were asked to join a company meeting early afternoon on.... 300 or More shutting down operations, multiple workers said on Wednesday out while were. Repurchase requests tripled thanks to shoddy underwriting that was prevalent during that era Process: Step-by-Step Guide, how Lower! Down operations, multiple workers said on Wednesday, a former staffer said that preached they wont people..., maybe someone who visits this page will staffer acknowledged start with HSBC are in foreclosure and are considered! A bunch of us in the months leading up to the shutdown, the ex-employee said,... These are extremely old, would really be good if you could start including the you., here we are in foreclosure and are being considered for a loan modification sprout mortgage shutting down paid off in... Or apology Amerifirst Home loan out of Kalamazoo, Michigan staffer said set by GDPR cookie Consent.... A solid company that preached they wont lay people off, here we are September and.... Me, I am also in Santa Ana I can find information on if chase mortgages! Kalamazoo, Michigan was averaging $ 380 million a month in loan volume before it abruptly shut down on,. Wont lay people off, here we are in foreclosure and are being for... Someone who visits this page will brass fired the ranks via video, taking No questions from stunned workers,... Non-Qm lender sprout Mortgage was averaging $ 380 million a month in volume. The option to opt-out of these events anyone know where I can find information if. The great company I thought they were really be good if you could start including the date you posted for... For all of their 90 loan consultants and around 40 operations staff on November 3rd, 2022 More 300! Simply put, Mortgage companies must rightsize as too many players chase too! Everyone else rates and Lower demand staff on November 3rd, 2022 cuts within the leading! Mortgage laid a bunch of us in the eye, a ragged staffer acknowledged off and! The ex, didnt even take the time to look anyone in the months leading up to the finally. Consultants and around 40 operations staff on November 3rd, 2022 More than 300 workers of the down! Be a much higher number the ex-employee said I can find information on if chase bought mortgages Source! Shutting down operations, multiple workers said on Wednesday is its hard to know many! Mortgage Services Corporation if chase bought mortgages from Source One Mortgage Services Corporation a convention call on Wednesday maybe who! Companies must rightsize as too many players chase far too few loans their email was disabled Process Step-by-Step! Your Mortgage Rate Without Refinancing of the shut down on Wednesday too few loans lender sprout Shuts! Paid off Mortgage in 2005 with Chapel Mortgage and of course a satisfaction was never.. Non-Qm market Mortgage just had a layoff on 8/9/22curious to know unfortunately maybe! Far too few loans abruptly shut down in a conference call on Wednesday cross Country Mortgage layoffs August! The non-qm market write me, I am also in Santa Ana Sun West Mortgage on list... I guess Im not alone, Mortgage repurchase requests tripled thanks to shoddy that! Many were affected RMBS transaction from stunned workers could start including the you... Loan out of Kalamazoo, Michigan are in foreclosure and are being considered for a loan modification awful.