– suspends operations Century Bank FSB – to halt wholesale lending Century Bank FSB – shut down by FDIC Century Security Bank – shut by FDIC CF Bancorp – shut by FDIC CFIC Home Mortgage – closing down Champion Bank – shut by FDIC Champion Home Builders – 196 layoffs Chapel Funding – bought by Deutsche Bank Charcol Mortgages (UK) – cut up to 50 jobs Charter Bank (Santa Fe, NM) –shut by FDIC Charter Funding – believed to be closed by parent First Magnus Financial Charter Mortgage – shut specialty lending unit Charter Oak Bank – shut by FDIC 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 – shut warehouse lending unit, cutting another 2,800 Wa Mu jobs 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 de Vere Mortgage Management (UK) – to close 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 55 jobs in San Diego Chase Home Lending – cut 52 wholesale mortgage jobs in Orange, CA Chase Home Lending – cut 132 jobs in Ohio Chase Home Lending – unit closing in Charlotte, 92 layoffs Chase Home Lending – cut 266 jobs in Pennsylvania Chase Home Mortgage – halts construction lending Chase Wholesale Lending – shut four loan centers, cut 175 jobs Chestatee State Bank – shut by FDIC 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 – files for bankruptcy CIT Group – sold remaining mortgage assets to Lone Star Funds Citadel – buying Res MAE 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 Citi Financial (UK subprime), layoffs Citi – cut 125 jobs in Texas Citi – to cut up to 6,500 investment banking jobs Citi correspondent – lending halted Citi Financial – to close 376 branches, 500 layoffs Citi Home Equity – layoffs Citi Mortgage wholesale – to cut jobs, drop brokers Citi Mortgage – layoffs and closures Citi Mortgage – halts wholesale home equity lending, 500 layoffs Citi Mortgage – halted jumbo wholesale lending Citi Mortgage – cut 190 wholesale mortgage jobs in Des Moines, IA Citi Mortgage Wholesale – layoffs, territories realigned Citi Residential Lending – retail mortgage unit to be consolidated Citizens Bank – mortgage layoffs Citizens Bank and Trust Company of Chicago – shut by FDIC Citizens Bank of Effingham – shut by FDIC Citizens Community Bank – shut by FDIC Citizens National Bank – shut down Citizens Republic Bancorp – to cut 60 jobs, mainly from mortgage processing Citizens State Bank – shut by FDIC City Bank – shut by FDIC Clear Choice Financial – in default, Bankruptcy possible CMXL – acquired All Fund Coast Bank – sold to First Banks of St.Louis Coastal Bank – shut down by FDIC Coastal Community Bank – shut by FDIC Cobalt Capital (UK) – shut down Cohen Financial – cut 25% of staff Coldstream Financial Services – closed Collateral Real Estate Capital – acquired by BB&T Colonial Bank – shut by FDIC Colonial National Mortgage – closing operations center in Ohio Colonial National Mortgage – to halt wholesale lending Colony Mortgage Corp.
– 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 Leeton – shut by FDIC Bank of Lincolnwood – shut by FDIC Bank of Shorewood – shut by FDIC Bank of Whitman – shut by FDIC Bank of Wyoming – shut by FDIC Bank Meridian – shut by FDIC Bank United – ceased wholesale lending, layoffs Bank United – bank failure Bank United – to close four wholesale mortgage sales offices, 200 layoffs Bank United – cut another 160 jobs Bank United – cut 115 jobs in Miami Lakes, FL Bank USA – shut down Barclays Bank PLC – bought Equifirst Barclays Bank PLC – sold Hom Eq 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 National Bank – shut by FDIC Bay Rock Mortgage Corp.
– layoffs Desert Hills Bank – shut by FDIC Deutsche Bank Correspondent Lending Group – consolidating business to Mortgage IT Diablo Funding Group – shut down Direct Finance Corp. Ditech – 181 layoffs – cut 120 jobs at Costa Mesa, CA headquarters Dollar Mortgage Corp.
– being acquired by Shearson Financial Network Domestic Bank – shutting down wholesale unit Dover Mortgage Company – shutting wholesale mortgage division Dover Mortgage Co. – to shut down Downey Savings – shut down by the FDIC Downey Savings – shut wholesale channel Draper and Kramer Mortgage – merged with 1st Advantage Mortgage LLC Dwelling House Savings and Loan Association – shut by FDIC e Bank – shut down by FDIC 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 Earthstar Bank – shut by FDIC Eastern Financial Florida Credit Union – put in conservatorship Edgewater Lending Group – halts wholesale lending Egg Mortgages (Citi-owned UK finance unit) – no longer accepting applications Elizabeth State Bank – shut by FDIC Empire Bancorp Mortgage Bankers – shut down Encore Bank – laid off 300 employees ECC Capital/Encore Credit – sold to Bear Stearns, 100 layoffs announced Aug.
– laying off 401 employees Affinity Bank (CA) – shut by FDIC Alpha Bank & Trust – shut down by FDIC Allegiance Bank of North America – shut by FDIC Alliance Bancorp – closed, filed for Ch.
7 bankruptcy Alliance Bank (Culver City, CA) – shut down by FDIC Alliance Title Co.– temporarily suspended new loan originations BSM Financial – closed wholesale unit Broker Source Budget Finance Co.– layoffs Butler Bank – shut by FDIC Butte Community Bank – shut by FDIC 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 National Bank – shut down California TD Investments LLC – filed for bankruptcy Cal PERS – home loan program suspended Calusa Investments – website down, thought to be closed Cambridge Home Capital – loses FHA approval Cameron Financial Group – bankrupt Canyon National Bank – shut by FDIC Cape Fear Bank –shut down by FDIC Capital South Bank – shut down by FDIC 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 Capital Source Inc.– 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.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 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 Marine Bank – shut by FDIC 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 5 million settlement Ameritrust Mortgage Company – subprime wholesale division closed Am Pro Mortgage closed – (part of Alliance Bancorp) Amstar Mortgage Corp.– shut down by FDIC Cortez Community Bank – shut by FDIC Corus Bank – shut down by FDIC Countrywide – combines wholesale and correspondent units 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 Crescent Bank and Trust Company – shut by FDIC CTX Mortgage – reportedly for sale CU National Mortgage – halts lending Dana Capital – closed Darby Bank & Trust Co.