The same flexibility hasn't been on display from others on the Street to kick off 2023. Thank you! Citibank layoffs August 3rd 2022. 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. I cant find anyone to help me clear this up. As recession fears swirl, a fresh round of layoffs is in the works for at least four corporate giants to start the new year. Central bank officials will huddle and decide by what degree to raise interest rates, and most investors hope that the Fed will slow down its hiking in order to help avoid job loss. FoA cut roughly 600 jobs between March 2021 and March 2022. Layoffs 2022: 7 Companies Making Major Job Cuts This Week The company ranked no. NASB Home Loans just laid off about 37 of their 90 loan consultants and around 40 operations staff on November 3rd, 2022. Brian Moynihan, chief executive officer of Bank of America Corp., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Wednesday, Oct. 12 . The Truth About Mortgage. Learn More Our Leadership Finance of America Companies is led by a close-knit group of long-time colleagues with deep industry expertise. That follows a total of 16,193 tech job losses last month, according to data from the Challenger, Gray and Christmas consultancy . Shut down the computer could not reach one human being, then told 3 hours later, was not allowed to finish the day out. At least 100 rumored layoffs at Supreme Lending headquartered in Dallas, TX since start of 2022. Company has posted 3 straight quarterly losses, reduced its workforce by 20% in 2022. Learn More $85B+ Loans Originated Since Start of 2017 Outstanding Products & Services We continue to introduce best-in-class loan products and services that our customers value. Lien was never released and do not have proof of payment. Number is unknown. Its really sad. Lendus formerly Rpm that had to pay a huge fine of 20mm to the cfpb finally folded. This month alone, tech companies have announced more than 50,000 layoffs, including from Amazon ( AMZN ), Alphabet ( GOOG, GOOGL ), and Microsoft ( MSFT ). I believe National City owned First Franklin but sold it to Merrill Lynch in 2006, and Merrill was later acquired by Bank of America. Working at Finance of America: 322 Reviews | Indeed.com But the picture among Wall Streets six biggest banks is mixed when it comes to the scale of these layoffs. Pretty much just a skeleton crew left. Finance of America Plans To Sell Retail Unit, Close Forward Wholesale 09/22/2022 Chase laid off 200 mortgage employees across retail and correspondent Channels. Probably has something to do with their now-former corrupt CEO kissing *** on Fox Business whenever he has the chance. Trying to clear up a release of lien on property. Finance of America Companies offers a comprehensive and competitive suite of benefits to promote health and welfare, financial security and work/life balance for you and your family. 43. Bank of America plans investment bank layoffs | Fortune The bank is expecting a modest deterioration in its macroeconomic outlook reflecting a mild recession in the central case.. By Maria Volkova. Advanced product, pricing and eligibility technology creates efficiencies and helps lenders compete in a fast-paced market. The economy added a staggering 517,000 jobs in January, federal data show, and unemployment fell to 3 . AAG has laid off for the 2nd time this year AFTER assurance that jobs were secureHUNDREDS laid off! All rights reserved. Or did they think the housing market would keep going up forever? On a one-day basis . I had a mortgage loan with a company called AMC Mortgage Services in Santa Ana, CA. Christensen Financial Mortgage in Altamonte Spings Florida announced its closing. Follow her on Twitter @alexandraandnyc, Click here for the latest stock market news and in-depth analysis, including events that move stocks, Read the latest financial and business news from Yahoo Finance, Download the Yahoo Finance app for Apple or Android, Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube, slashed about 6% of its workforce, or 3,200 jobs, warned of layoffs in a year-end audio message, INSIGHT-Before fatal collapse, Turkish building had skirted code thanks to Erdogan policy, In Chicago, adapting electric buses to winters challenges, Ukraine ally Kallas fights for reelection in Estonia vote, Global race to boost electric vehicle range in cold weather, UK says Ukraine forces under increasingly severe pressure defending Bakhmut. The 30 year mortgage was obtained in 2003 in Florida Property. Thank you!! Could you please remove some of the older components of the list? What Mortgage Rate Can I Get With My Credit Score? Anyone know where I can find information on if Chase bought mortgages from Source One Mortgage Services Corporation? Only kept the under achievers and poor producers, sad! A Bankrate survey of economists conducted each quarter found that those polled placed the odds of a recession at 64% over the next year to year and a half. One important consideration for the sector is the Feds next meeting at the end of the month. During her period as CEO, the company made its debut on the New York Stock Exchange in April 2021, after merging with the blank-check company Replay Acquisition Corp. Graham Fleming, president since October 2020, has been the interim CEO, responsible for the forward, reverse, commercial and home improvement lending segments, as well as lender services. Confirmed by people affected by the layoff. Property is in Trust in Mexico and Fiduciary will not release until Metrociti is linked to GMAC. White-collar layoffs soar amid worries about economic slowdown This year's layoff announcements come as U.S. companies grapple with inflation, higher interest rates, and a deteriorating economic environment that has prompted both needed and precautionary cost-cutting especially after many over-hired during the post-pandemic boom in 2021. Mountain West Financial shut down their wholesale operations on 08/24/22. The finance industry is beginning to feel the effects of an expected economic downturn and firms are slimming down in anticipation. Laurel, NJ PHH Mortgage Corp. laid off 69 employees in Amherst, NY PHH Mortgage Corp. cut 2250 jobs in New Jersey PHH Mortgage Corp. cut 135 jobs in Amherst, NY PHH Mortgage Corp. laid off 130 employees at its Mount Laurel, NJ mortgage servicing center PHH Mortgage Corp. merger terminated PHH Mortgage Corp. exited wholesale/correspondent mortgage lending channel PHH Mortgage Corp. cut 33 jobs in Mount Laurel, NJ PHH Mortgage Corp. cut 80 jobs in Amherst, NY, eventually close office in 2017 PHH Mortgage Corp. laid off 365 mortgage workers in Jacksonville PHH Mortgage Corp. laid off 140 in Providence, 300 more from NJ and FL offices Piedmont Community Bank shut by FDIC Pierce Commercial Bank shut by FDIC Pillar Processing cut 601 employees at Long Island offices Pimco bought stake in First Guaranty Mortgage Pinehurst Bank shut by FDIC Pinnacle Bank of Oregon shut down by FDIC Pinnacle Direct Funding Corp merged with Tri-Star Lending Pinnacle Financial Corp. acquired by Impac Mortgage Holdings, closed Pisgah Community Bank closed by FDIC Plantation Federal Bank shut by FDIC Platinum Community Bank (IL) shut down by FDIC PMI Group Inc. (mortgage insurer) filed for Chapter 11 bankruptcy PNC Bank acquired BBVA PNC Bank acquired National City PNC Bank to close Capstone Realty Advisors (commercial mortgage unit) PNC Bank shed dozens of mortgage workers amid refinance slowdown PNC Bank discontinued wholesale home equity lending PNC Bank to cut 5,800 jobs PNC Bank to cut 30 workers at loan servicing center in Dayton Polk County Bank shut by FDIC Popular Financial Holdings exited the wholesale sub-prime mortgage market Popular Inc. cut 167 loan servicing jobs in New Jersey Popular Mortgage Corp. shut down Popular Warehouse Lending no longer accepting applications Portellus, Inc. (software) winding down mortgage division, selling mortgage assets Precision Financial Inc. closed Preferred Home Mortgage Co. cut 75 jobs Premier American Bank shut by FDIC Premier Bank shut by FDIC Premier Bank (Denver) shut by FDIC Premier Community Bank of the Emerald Coast shut by FDIC Premier Mortgage Funding, Inc filed for bankruptcy Premium Funding Corp. closed Pretium acquired Deephaven Mortgage LLC Primary Residential Mortgage Inc. acquire The Executive Mortgage Group Principal Mortgage Fund, Inc. to buy Fair Home Lending Financial, Inc. Redwood Trust laid off numerous people prior to Thanksgiving including myself. 33 among the top U.S. retail mortgage lenders in the period. Would appear this was done to avoid the federal 60 day WARN Act notice. We are attempting to make first payment but I wanted to speak with someone at the company and I am unable to get through to anyone. The Labor Department will publish its jobs report for December at 8:30 a.m. I was directed to Transnational Financial Network. Add Caliber to the list, I hear they just shut down a bunch of branches. Bank of America Layoffs 2023: What to Know About the Latest BofA Job Cuts Is this data verified? Tech sector layoffs leave H1B visa holders, many from India, at risk of Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on SMS (Opens in new window). The job cuts are likely only to be the first in a series of layoffs across the finance world and Wall Street as the countrys economic condition becomes shakier. Bank of America Plans Job Cuts in Its Investment Bank According to a former company official who requested . Working at Finance of America: 312 Reviews | Indeed.com Hey Colin, North American Savings Bank announced on Friday 1/6/23 they will be close their Consumer Direct Division. Jan 2023. Cross Country Mortgage layoffs in August, September and October. The company declined to comment on whether Finance of America found another buyer for the retail branches. That includes the. Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal, Optimizing client engagement and communication in 2023, Shared Equity: A required intervention for home affordability. This includes 100 layoffs in Israel, where Amdocs has a significant presence with about 5000 employees. Finance of America Mortgage Bank of America planning layoffs for investment bankers: report Big cities run by Democrats for decades are now supposedly 'ungovernable', HBO's sexploitation is a workers' rights travesty, WATCH: Steven Spielberg likens rise in antisemitism to 'Germany in the '30s', AOC gloats after construction of Virginia Amazon headquarters delayed as company cuts jobs, Alex Murdaugh trial: Watch the key video that could've sealed guilty murder verdict. The company reported a loss of $168 million. And JPMorgan's Dimon said in a televised interview with Fox Business Network last week that the bank has "a lot of growth plans.". 'No layoffs' Bank of America CEO doesn't want workers worrying about "You know, I tend not to stop growing because you have a recession," he said. The discontinuation of the forward mortgage originations segment will allow Finance of America Companies to optimize its resources and prioritize businesses that have a distinct market opportunity and greater growth potential, Graham Fleming, interim chief executive officer at Finance of America, said in a statement. On February the 18th 2022 American Pacific Mortgage had a layoff rumor has It of 226 employees. Wells Fargo, one of the nation's largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022. With the shutdown of its forward mortgage company, FoA expects to save between $110 million and $120 million annually. Is Rushmore a good company and did Beneficial merge with this company? Very common name, hard to say, if its something to do with ResCap (GMAC), maybe it went to Ocwen? Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal, Optimizing client engagement and communication in 2023, Shared Equity: A required intervention for home affordability. SAN JOSE, Calif., March 02, 2023 -- ( BUSINESS WIRE )--This year, Fast Company named Roku, Inc. (NASDAQ: ROKU) one of the top 10 most innovative companies in North America, for the brand's . Bank staff could shrink by an average of 5-10%, mainly at mid- and lower levels in technology, human resources and finance departments, according to Alan Johnson, head of the compensation . It's nothing personal: On Wall Street, layoffs are a way of life "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy said in his message to Amazon staff. Careers - Finance of America Companies Frequently asked questions . Some firms across the financial industry are giving workers the boot after dealmaking activity tumbled last year and as a potential recession looms. Ive heard theyre also making pay cuts. I was a very long term employee. Paid off a loan in 2009 to Alliance Financing Mortgage Corp, out of Mt. Like others above, we have a sale but title pulled up and outstanding lien and I found out the company was dissolved so I dont know where to go for help. Also on Aug 3, 2022 Caliber Home Loans laid off an additional hundred or so employees amount underwriters, processors, sales. This echoed a point the banks chief financial officer Alastair Borthwick made during a post-earnings call last week. These links are provided for convenience and informational purposes. 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. Sep 29, 2022. Required fields are marked *. They were pretty quiet about it. As SARAH said on May 18, 2022 at 11:59 am & ANONYMOUS said on May 27, 2022 at 6:50 am. Finance of America issues second round of layoffs in Conshohocken But of course the pandemic was radically different with all of the free money that was available. Cal, 400 in So. Finance of America Mortgage announces shutdown - HousingWire While finance and tech firms are beginning to start seeing layoffs, many other parts of the labor market are chugging right along despite the rate increases. But compared to prior recessions, it says . Rocket has a plan to drastically cut costs. Only discussing TMS and its future platform. How do you transition from QC defense to offense in 2023? Of the aggregate pre-tax charges of about $145 million to $164 million, the lender estimates about $12 million to $18 million will consist of employee severance, retention and related benefits. When I started, we probably saw 1,200 tickets a week, and now its between 500 and 600 so, you dont need the same number of people to support employees.. FoA cuts workforce amid company restructuring, market downturn This list gives us a perspective to get out of the mortgage industry and pivot to some else. Last week, BlackRock (BLK), the world's largest asset manager, said it will lay off about 500 employees or roughly 3% of its workforce. I have 23 years in the mortgage fulfillment industry and that didnt save me from the layoff ax. See Fintechs Cutting Jobs As the Tech Bubble Bursts. - Business Insider Was made a part of Envoy Mortgages 5th round of layoffs (since July) yesterday. The comment section is very helpful. 11 bankruptcy Fremont Investment & Loan laid off 243 employees in Ontario, CA Fremont Investment & Loan cut 243 jobs in CA Freedom Mortgage Corporation bought select residential mortgage assets from New York Community Bank Frontier Bank shut by FDIC Frontier Bank, FSB (El Paseo Bank) shut by the FDIC Frost Mortgage partnered with First Houston Fulton Mortgage Co. (Lancaster, PA) cut 45 employees FundingAmerica not accepting any new business Gateway Bank suspends wholesale lending Gateway Bank Mortgage, Inc. ceased mortgage operations Gateway Bank of St. Louis shut by FDIC Gateway Mortgage Group acquired Farmers Exchange Bank Gateway Mortgage Group closed eight retail mortgage branches in California, 25 layoffs GB Mortgage shutting down GE mulling sale of Australian mortgage unit Wizard Home Loans GE Money (Ireland) halted mortgage lending, cut 80 jobs GE Money (AU & NZ) cut 335 jobs GE Money Canada to halt mortgage lending Generation Mortgage halted reverse mortgage lending, layoffs Genpact Mortgage Services Inc. cut 124 jobs in Richardson, TX Genpact Mortgage Services Inc. cut 81 jobs in Irvine, CA Genpact Mortgage Services Inc. cut 65 mortgage processing jobs in Richardson, TX Genworth Financial cut 400 jobs to reduce costs Genworth Financial cutting roughly 1,000 jobs Genworth Financial acquired Liberty Reverse Mortgage George Washington Savings Bank shut by FDIC Georgia Trust Bank shut by FDIC Georgian Bank shut down by FDIC Glasgow Savings Bank shut by FDIC Gleacher & Company cut 160 employees in mortgage-backed securities unit Global Commerce Bank shut by FDIC Global Mortgage Inc. to be shut down GMAC Mortgage cut 242 jobs in Fort Washington, PA GMAC Mortgage cutting 84 jobs in West Hartford, 45 in Charlotte 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 Gold Canyon Bank shut by FDIC Golden Empire Mortgage closed wholesale division GEM Capital Funding Golden State TD Investments LLC filed for bankruptcy Goldman Sachs acquired Genesis Capital Goldman Sachs purchased Litton Loan Servicing Goldman Sachs to cut 1,500 jobs Granite Bank acquired Cousins Home Lending Granite Community Bank shut by FDIC Great Basin Bank of Nevada shut down by FDIC Greater Buffalo Savings Bank halted residential mortgage lending, closed unit Great Southwest Mortgage believed to be closed by parent First Magnus Financial Greater Atlantic Bank shut by FDIC GreenChoice Bank, fsb closed by FDIC Greenpoint Mortgage closed, 1900 employees laid off, 31 branches closed Greenpoint Mortgage shut servicing center in Columbus, GA, 220 layoffs Green Tree Servicing cut 31 jobs in Birmingham, AL Green Tree Servicing exited wholesale mortgage business Green Tree Servicing and Ditech Mortgage Corp. merge, become ditech, a Walter company Green Tree Servicing close Tennessee office, cut 32 jobs Group One Lending shut down Guaranteed Rate acquired Owning Guaranteed Rate acquired Stearns Lending Guaranteed Rate acquired assets/staff from Honolulu HomeLoans and Hawaii Lending Alliance Guaranteed Rate acquired Sun State Home Loans, Nationwide Direct Mortgage, and Arbor Mortgage Guaranteed Rate acquired 75 loan officers from Discover Home Loans Guaranteed Rate purchased the assets of FirsTrust Mortgage Guaranteed Rate Affinity acquired four PHH Home Loans regional mortgage origination and processing centers Guaranty Bank (DBA BestBank in Georgia & Michigan) shut by FDIC Guaranty Bank sold Shelter Mortgage LLC to CIVC Partners Guaranty Bank shut down by FDIC Guaranty Bank to exit warehouse lending Guaranty Bank to shut correspondent lending unit Guaranty Financial cut 10 percent of workforce Guaranty Residential layoffs Guardian Loan Co. shut down Guild Mortgage acquired Residential Mortgage Services Holdings, Inc. Guild Mortgage Co. acquired Cornerstone Mortgage Guild Mortgage Co. bought AmeriPro Home Loans Guild Mortgage Co. acquired Liberty Financial Group Guild Mortgage Co. acquired Comstock Mortgage Guild Mortgage Co. acquired Northwest Mortgage Gulf State Community Bank shut by FDIC GulfSouth Private Bank shut by FDIC H&R Block Mortgage Corp. 353 layoffs H&R Block to cut 505 jobs related to closure of Option One Habersham Bank shut by FDIC Hanna Holdings Inc. acquired 1st Priority Mortgage Inc. HarborOne Bank acquired Cumberland County Mortgage HarborOne Bank bought Merrimack Mortgage Company Harbourton Mortgage Investment Corporation (HMIC) closed HarVest Bank of Maryland shut by FDIC Harvest Community Bank closed by FDIC Haven Trust Bank shut down by FDIC Haven Trust Bank Florida shut by FDIC HBOS shut Mortgage Business (UK), 325 possible layoffs Heartland Bank shut by FDIC Heartland Mortgage Co. bought Merrlin Mortgage Corp. Heartland Wholesale Funding ceased wholesale lending Heartwell Mortgage closed Heritage Bank shut down by FDIC Heritage Bank of Florida shut by FDIC Heritage Bank of North Florida shut by FDIC Heritage Banking Group shut by FDIC Heritage Community Bank shut down by FDIC Heritage Plaza Mortgage closed HFF Inc. cut 57 jobs High Desert State Bank shut by FDIC Highland Community Bank closed by FDIC High Trust Bank shut by FDIC Hillcrest Bank shut by FDIC Hillcrest Bank Florida shut down HMIC closed HPS Investment Partners acquired Citadel Servicing Corp. Home 123 Mortgage closed HomeBanc Mortgage Corp. layoffs, filed bankruptcy, sold branches to Countrywide Homebridge Financial Services acquired Prospect Mortgage Home Capital Inc. closed Homecomings Financial to cease lending Homecomings Financial laid off 284, including 207 AEs Homecomings Financial cut 60 jobs in Bellevue, WA Home Equity Mortgage Co. placed in temporary receivership Home Equity of America layoffs Home Federal Savings Bank shut by FDIC 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 Consultants closes 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 HomeLight acquired mortgage startup Eave Home National Bank shut by FDIC Home Point Financial acquired wholesale division of Platinum Mortgage Inc. Home Point Financial acquired Maverick Funding Corp. Home Point Financial closed mortgage unit in Charlotte, 54 layoffs Home Point Financial bought Stonegate Mortgage Corp. Home Point Financial acquired mortgage originations and operations of Emery Financial Home Savings of America shut by FDIC HomeStreet Bank sold its stand-alone home loan centers to Homebridge Financial HomeStreet Inc. acquired Simplicity Bancorp Home Valley Bank shut by FDIC Homestead Mortgage will close its wholesale division HomeStreet Bank to close/consolidate 19 home lending centers, cut 127 jobs HomeStreet Bank cut 133 mortgage jobs Hometown Community Bank shut by FDIC Hometown Lenders acquired TotalChoice Mortgage Hometown National Bank (WA) shut by FDIC Homeview Lending Inc. layoffs, now appears to be closed Homeward Residential cut 370 jobs Homeward Residential combined wholesale/correspondent sales divisions Homewide Lending Corp. closed Honor State Bank closed wholesale lending department Horizon Bank shut by FDIC Horizon Bank acquired 1st Mortgage of Indiana, Inc. Housevalues Inc. laid off 160 workers, closed Yakima call center, shut mortgage lead biz Howard Bank (MD) discontinued its mortgage banking business HSBC cut 197 mortgage jobs at its Brandon, FL office HSBC stopped wholesale, correspondent lending HSBC to cut 1100 jobs HSBC Finance laid off 357 workers in Brandon, FL, and 150 in Chicago HSBC Financial Corp. Ltd. (Canada) closing 30 branches, 300 potential layoffs HSBC Holdings PLC closing mortgage office, 600 layoffs HSBC Mortgage cut 80 jobs in NY HSBC Mortgage Services (Correspondent division) closed, layoffs HSBC to shut down HFC, Beneficial HSBC shuts down Decision One 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 HUD to close some regional offices thanks to budget cuts, 900 employees affected Huntington Bancshares laid off 200 mortgage employees during third quarter Huntington Financial to be acquired by Oxford Funding Huron Valley Financial acquired Home Point Financials reverse mortgage business Hypo Real Estate (Germany) nationalized IBM cut mortgage jobs in Beaverton, OR IBM cut jobs at its Seterus loan servicing unit in Beaverton, OR Icon Residential Lenders, LLC sold to Rushmore Loan Management Services Ideal Federal Savings Bank shut by FDIC 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 Mortgage acquired CashCall mortgage operations Impac Mortgage closed 23 retail branches and one fulfillment center, cut 180 jobs Impac Mortgage sold AmeriHome Mortgage Corp. subsidiary Impac Mortgage stops Alt-A lending, 144 laid off Impac Mortgage 350 recent layoffs, halted Alt-A loan production Imperial Capital Bank shut by FDIC Imperial Savings and Loan Association shut by FDIC InBank (IL) shut down by FDIC Independent Bankers Bank shut FDIC Independent National Bank shut by FDIC Indymac sold to private investor group Indymac Federal now OneWest Bank 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 stopped construction-to-perm lending IndyMac closed Ontario, CA-based operations center IndyMac Commercial Lending Corp. halted lending operations ING cut 2,400 jobs ING to cut 7,000 jobs ING to buy Interhyp AG (largest German residential mortgage broker) ING Direct exited wholesale mortgage business ING Netherlands cut 10 percent of jobs at mortgage unit Innovative Bank shut by FDIC Innovative Mortgage Capital closed Integra Bank National Association shut by FDIC Integrity Bank shut by FDIC Integrity Bank of Alpharetta, Georgia shut down by FDIC InterBay Funding laid off 75 workers Intercontinental Exchange (ICE) purchased Simplifile InterFirst Mortgage shut down in 2017, relaunched in 2020 InterLinc Mortgage Services LLC acquired HomeTown Mortgage Services Inc. Inter Savings Bank shut by FDIC Investaid Corp. suspended operations indefinitely Investors Home Mortgage halted wholesale lending Invitation Homes laid off 51 in Scottsdale, AZ Irwin Home Equity layoffs Irwin Union Bank shut down by FDIC Irwin Union Bank and Trust Co. shut down by FDIC Irwin Union Bank & Trust Co. stopped wholesale lending ISN Bank shut by FDIC Ivanhoe Mortgage closed Ixonia Bank acquired Novus Home Mortgage Jasper Banking Company shut by FDIC Jennings State bank shut down by FDIC J.G.