Mortgage Dead Pool

[...] the actions are mostly the result of both deterioration in the secondary market for closed mortgage loans and a long-term weakening of consumer demand for mortgage products and services. "In the [...]

[...] ; Effective immediately, Nation One Mortgage Company, Inc. is ceasing the origination of all mortgage loans. No new loan submissions are being accepted at this time. If you have received this message, [...]

[...] Residential Capital will eliminate more than 1,000 jobs as the company tries to regain its footing amid a [...]

[...] unit of General Electric Co., announced it would eliminate more than 50% of its staff as Residential Capital, the mortgage unit of GMAC LLC said it was terminating about 1,000 positions in addition to [...]

[...] of $113 million compared with a $52 million profit during the year-ago period. Sales of subprime mortgages accounted for a quarterly loss of $164 million, overshadowing a “solid” [...]

[...] by lax underwriting standards, early payment defaults and high delinquency rates involving subprime mortgages and concerns over the general state of the U.S. housing market," said Jeffrey J. [...]

[...] to thank all of the mortgage brokers we've done business with over the years. Due to current market conditions, we do not have the resources available to continue lending. It is with great regret [...]

[...] Just in...... Due to the current market conditions in our industry, Millennium Funding Group has elected to discontinue origination of [...]

[...] at present. While Indymac has very strong capital and liquidity, we need to adapt to current market conditions and be very careful with the loans we are funding.As a result, we, along with most other [...]

[...] their jobs.The Mountlake Terrace, Washington-based mortgage wholesaler specialized in the subprime market through its hallmark automated online system that delivered loan commitments within seconds, [...]

[...] receive $1 billion in new capital from GM. But company executives and analysts warn that the subprime market will deteriorate further this year. Interest rates on more than 10,000 of the company's [...]

[...] division.Irving, Texas-based First Horizon will no longer be accepting applications from mortgage brokers for nonprime loans.The decision to exit the nonprime business comes as many wholesale [...]

[...] business with MILA over the years. It read "MILA would like to thank all of the mortgage brokers we've done business with over the years. Due to current market conditions, we do not have [...]

[...] of the company's senior management team has left, including its chief operating officer, chief financial officer and treasurer. Jones, who joined Residential Capital, or ResCap, in March, will replace [...]

[...] .In the past weeks, the company has also seen the exit of its chief executive officer, chief financial officer and treasurer. [...]

[...] The fallout continues. Just in.... First Consolidated Mortgage is no longer closing or accepting submissions for wholesale subprime loans. [...]

[...] First Consolidated Mortgage Co. is closing down, a spokeswoman confirmed Thursday. A month ago, the wholesaler told [...]

[...] in our industry, Millennium Funding Group has elected to discontinue origination of residential mortgage loans. Effective immediately , we will no longer accept new mortgage loan applications, or [...]