Houston, We have a problem.

rmptr

Silver Member
Dec 25, 2007
3,274
25
Tierra del Fuego
Detector(s) used
Tesoro.Fisher.Garrett
I'll apologize for using the words inherited from a debacle in the space industry.

It just kind of seemed appropriate here.

This is from one source I ran across, and I'll post yet another from a different, yet somewhat associated source.

I'm NOT all out for gloom and doom.
I do NOT know how much truth is here. It's full of disclaimers.
I do think people should know what is going on around them, and if they were to investigate the words contained herein, perhaps they might come closer to the truth of the matter.
I'm not much on high finance.
If you figure out what's really going on, perhaps you would tell me how I might avoid the problems that are sure to ensue?

....
Imploded Lenders

260. Vanguard Mortgage & Title, Inc.
259. Chase Home Equity - Wholesale
258. Chase Subprime - Wholesale
257. Evergreen Investment & Carnation Banc
256. Casa Blanca Mortgage/Shearson - Wholesale
255. Guaranty Bank - Correspondent
254. Citi Residential Lending
253. Montgomery Mortgage Capital Company
252. E*Trade Wholesale Lending
251. Shearson Financial Network, Inc.
250. American Bank Mortgage Group - Wholesale
249. AmeriBanc Corp.
248. Washington Mutual - Wholesale
247. Century Bank, F.S.B. - Wholesale
246. Diversified Mortgage, Inc.
245. National Wholesale Funding
244. Centennial Mortgage and Funding, Inc./Award Mortgage
243. Fidelity Home Mortgage Corp. - Wholesale
242. LMI Funding, Inc.
241. Millennium Mortgage - Wholesale
240. Origen Financial, Inc. (Correspondent)
239. CitiMortgage - Home Equity Wholesale
238. Bear Stearns Mortgage
237. East West Mortgage Co. of VA
236. New Vision Residential Lending
235. Washington Savings Bank, F.S.B. - Wholesale
234. Macquarie Mortgages USA Inc.
233. Global Mortgage, Inc.
232. Unique Mortgage Solutions (UMS, LLC)
231. First Franklin - Merrill Lynch
230. First National Mortgage Sources
229. Resource Mortgage (Wholesale)
228. KH Financial
227. Lydian Mortgage
226. OMG Wholesale Lending
225. Saxon Mortgage (Wholesale)
224. Beazer Mortgage Corp.
223. E-Loan (Wholesale)
222. Allpointe Mortgage (Broker Program)
221. Popular Warehouse Lending
220. Allied Lending Corp. (Wholesale)
219. BF Saul Wholesale Lending
218. Community Resource Mortgage
217. Lehman/Aurora Loan Services
216. Residential Mortgage Capital
215. Maverick Residential Mortgage
214. Countrywide Financial Corp.
213. First NLC Financial Services
212. First American Bank (Wholesale)
211. Soma Financial
210. National City Corp. (Wholesale)
209. Heartland Wholesale Funding
208. Homefront Mortgage Inc.
207. PNC Bank H.E.
206. Family First Mortgage Corp.
205. First Fidelity Financial
204. BSM Financial
203. 1st Choice Mortgage
202. Wescom Credit Union
201. Coast Financial Holdings/Coast Bank
200. WaMu (Subprime)
199. First Madison Mortgage
198. Southern Star Mortgage
197. TransLand Financial
196. Secured Bankers Mortgage Company (SBMC)
195. ComUnity Lending
194. Delta Financial Corp
193. BayRock Mortgage
192. Empire Bancorp
191. Option One - H&R Block
190. Citigroup - FCS Warehouse
189. Charter One (Wholesale)
188. Wells Fargo - Home Equity
187. Paul Financial, LLC
186. Webster Bank (Wholesale)
185. Fieldstone Mortgage Company
184. Tribeca Lending Corp. (Wholesale)
183. WAMU Comm. Correspondent
182. Marlin Mortgage Company
181. Countrywide Specialty Lending
180. UBS Home Finance
179. MortgageIT-DB (Retail)
178. Edgewater Lending Group
177. ResMAE Mortgage Corp.
176. Citimortgage Correspondent (2nds)
175. AMC Lending
174. Liberty American Mortgage
173. Exchange Financial (Wholesale)
172. FirstBank Mortgage
171. Bank of America (Wholesale)
170. Diablo Funding Group Inc.
169. Honor State Bank
168. Spectrum Financial Group
167. Priority Funding Mortgage Bankers
166. BrooksAmerica Mortgage Corp.
165. Valley Vista Mortgage
164. New State Mortgage Company
163. Summit Mortgage Company
162. WMC
161. Paragon Home Lending
160. First Mariner Wholesale
159. The Lending Connection
158. Foxtons, Inc.
157. SCME Mortage Bankers
156. Aapex Mortgage (Apex Financial Group)
155. Wells Fargo (various Correspondent and Non-prime divisions)
154. Nationstar Mortgage
153. Decision One (HSBC)
152. Impac Lending Group
151. Long Beach (WaMu Warehouse/Correspondent)
150. Expanded Mortgage Credit Wholesale
149. The Mortgage Store Financial
148. C & G Financial
147. CFIC Home Mortgage
146. All Fund Mortgage
145. LownHome Financial
144. Sea Breeze Financial Services
143. Castle Point Mortgage
142. Premium Funding Corp
141. Group One Lending
140. Allstate Home Loans / Allstate Funding
139. Home Loan Specialists (HLS)
138. Transnational Finance Wholesale
137. CIT Home Lending
136. Capital Six Funding
135. Mortgage Investors Group (MIG) - Wholesale
134. Amstar Mortgage Corp
133. Quality Home Loans
132. BNC Mortgage (Lehman)
131. Accredited Home Lenders, Home Funds Direct
130. First National Bank of Arizona
129. Chevy Chase Bank Correspondent
128. GreenPoint Mortgage - Capital One Wholesale
127. NovaStar, Homeview Lending
126. Quick Loan Funding
125. Calusa Investments
124. Mercantile Mortgage
123. First Magnus
122. First Indiana Wholesale
121. GEM Loans / Pacific American Mortgage (PAMCO)
120. Kirkwood Financial Corporation
119. Lexington Lending
118. Express Capital Lending
117. Deutsche Bank Correspondent Lending Group (CLG)
116. MLSG
115. Trump Mortgage
114. HomeBanc Mortgage Corporation
113. Mylor Financial
112. Aegis
111. Alternative Financing Corp (AFC) Wholesale
110. Winstar Mortgage
109. American Home Mortgage / American Brokers Conduit
108. Optima Funding
107. Equity Funding Group
106. Sunset Mortgage
105. Nations Home Lending
104. Entrust Mortgage
103. Alera Financial (Wholesale)
102. Flick Mortgage/Mortgage Simple
101. Dollar Mortgage Corporation
100. Alliance Bancorp
99. Choice Capital Funding
98. Premier Mortgage Funding
97. Stone Creek Funding
96. FlexPoint Funding (Wholesale & Retail)
95. Starpointe Mortgage
94. Unlimited Loan Resources (ULR)
93. Freestand Financial
92. Steward Financial
91. Bridge Capital Corporation
90. Altivus Financial
89. ACT Mortgage
88. Alliance Mortgage Banking Corp (AMBC)
87. Concord Mortgage Wholesale
86. Heartwell Mortgage
85. Oak Street Mortgage
84. The Mortgage Warehouse
83. First Street Financial
82. Right-Away Mortgage
81. Heritage Plaza Mortgage
80. Horizon Bank Wholesale Lending Group
79. Lancaster Mortgage Bank (LMB)
78. Bryco (Wholesale)
77. No Red Tape Mortgage
76. The Lending Group (TLG)
75. Pro 30 Funding
74. NetBank Funding, Market Street Mortgage
73. Columbia Home Loans, LLC
72. Mortgage Tree Lending
71. Homeland Capital Group
70. Nation One Mortgage
69. Dana Capital Group
68. Millenium Funding Group
67. MILA
66. Home Equity of America
65. Opteum (Wholesale, Conduit)
64. Innovative Mortgage Capital
63. Home Capital, Inc.
62. Home 123 Mortgage
61. Homefield Financial
60. First Horizon Subprime, Equity Lending
59. Platinum Capital Group (Wholesale)
58. First Source Funding Group (FSFG)
57. Alterna Mortgage
56. Solutions Funding
55. People's Mortgage
54. LowerMyPayment.com
53. Zone Funding
52. First Consolidated (Subprime Wholesale)
51. EquiFirst
50. SouthStar Funding
49. Warehouse USA
48. H&R Block Mortgage
47. Madison Equity Loans
46. HSBC Mortgage Services (correspondent div.)
45. Sunset Direct Lending
44. Kellner Mortgage Investments
43. LoanCity
42. CoreStar Financial Group
41. Ameriquest, ACC Wholesale
40. Investaid Corp.
39. People's Choice Financial Corp.
38. Master Financial
37. Maribella Mortgage
36. FMF Capital LLC
35. New Century Financial Corp.
34. Wachovia Mortgage (Correspondent div.)
33. Ameritrust Mortgage Company (Subprime Wholesale)
32. Trojan Lending (Wholesale)
31. Fremont General Corporation
30. DomesticBank (Wholesale Lending Division)
29. Ivanhoe Mortgage/Central Pacific Mortgage
28. Eagle First Mortgage
27. Coastal Capital
26. Silver State Mortgage
25. ECC Capital/Encore Credit
24. Lender's Direct Capital Corporation (wholesale division)
23. Concorde Acceptance
22. DeepGreen Financial
21. American Freedom Mortgage, Inc.
20. Millenium Bankshares (Mortgage Subsidiaries)
19. Summit Mortgage
18. Mandalay Mortgage
17. Rose Mortgage
16. EquiBanc
15. FundingAmerica
14. Popular Financial Holdings
13. Clear Choice Financial/Bay Capital
12. Origen Wholesale Lending
11. SecuredFunding
10. Preferred Advantage
9. MLN
8. Sovereign Bancorp (Wholesale Ops)
7. Harbourton Mortgage Investment Corporation
6. OwnIt Mortgage
5. Sebring Capital Partners
4. Axis Mortgage & Investments
3. Meritage Mortgage
2. Acoustic Home Loans
1. Merit Financial

Ailing/Watch List Lenders™:

17. Franklin Bank, SSB
16. Wilmington Finance
15. Bayview Lending Group, LLC
14. Homewide Lending Corporation
13. Thornburg Mortgage
12. American Equity Mortgage, Inc.
11. CTX Mortgage Company (Retail)
10. First Horizon Home Loans
9. Gateway Funding
8. BankUnited (Wholesale)
7. Chevy Chase Bank - Wholesale
6. IndyMac Bancorp
5. MortgageIT
4. Sallie Mae
3. Meridias Capital
2. Doral Financial Corp.
1. Residential Capital, LLC*


Key definitions and disclaimers:

"Imploded" lenders: The "imploded" status is somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or a "firesale" acquisition. The Companies include all types (prime, subprime, or a mix of both; retail or wholesale; subsidiaries and entire companies). Note: Companies listed here may still be operating in some capacity; check with them before making assumptions.

Ailing lenders haven't shut down, but they're significantly scaling back or are (or recently have been) in manifest financial, legal, or operational distress. Unfortunately, most of the industry now falls under this description, so we are forced to reserve this list for the more glaring cases or those which we happen to have more specific info about.

Note: Lending operations that were previously deemed "imploded" by us but which have returned in some form are shown in darker italics. They remain on the list for historical completeness.

Note 2: This site changes rapidly. You should always check other sources regarding information found here, and check with the companies themselves if you plan on doing business with them. And as always, please let us know if you have corrections, clarifications, or additions.

Latest imploded:
Last addition: May 23, 2008.

* Vanguard Mortgage & Title, Inc.
* Chase Home Equity - Wholesale
* Chase Subprime - Wholesale
* Evergreen Investment & Carnation Banc
* Casa Blanca Mortgage/Shearson - Wholesale

Blogroll
Housing Bubble:

* Housing Doom
* Housing Panic
* Patrick.net
* Housing Bubble @ Digg
* Sacramento Real Estate Stats
* Bakersfield Bubble
* Lawrence Yun Watch
* Global House Price Crash
* Housing Derivatives
* Dr. Housing Bubble
* Bubble Meter Blog
* Bubbletracking Blog
* House Bubble Blog
* Cali Housing Forecast
* The Robbo Report

Economics & Finance:

* iTulip
* Russ Winter
* Mish's Global Econ.
* TheMessThatGreenspanMade
* Roubini Global Econ.
* Immobilienblasen
* Charles Hugh Smith
* Prudent Bear
* Calculated Risk
* The Big Picture
* Market Ticker
* "Boom, Bust & Bling"
* Paper Money Blog
* The Great Depression of 2006
* Peak Economy
* EconomyInCrisis
* PrudentInvestor

Mortgage and Credit:

* Housing Wire
* Blown Mortgage
* The Truth About Mortgage
* Loan Modification News
* The Mortgage Fraud Blog
* Bankruptcy Blog
* The Credit Shrink
* "Last NLC"
* "OptionARMageddon"
* Broken Credit
* The Mortgage Dead
* FHA Book Blog
* Americans for Debt Relief
* Reverse Mortgage Blog
* FHA Mortgage Guide

<eof>
 

La Beep

Hero Member
Feb 15, 2008
570
11
NE Louisiana
Detector(s) used
Whites Eagle Spectrum, XLT Fisher's CZ5 Garretts GTA 1000
Where is the problem? Businesses fail every day. Others are bought out every day.
 

OP
OP
rmptr

rmptr

Silver Member
Dec 25, 2007
3,274
25
Tierra del Fuego
Detector(s) used
Tesoro.Fisher.Garrett
Well, that's nice to hear La,

Thanks for the input. I feel better now.
Everything is peaches n' cream!

Think I'll just pull the lawn chair out of the garage and sit in the sun today.
May toss a steak on the BBQ.

Your contribution has improved my whole day.

Best,
rmptr
 

MD Dog

Bronze Member
Feb 10, 2007
1,770
14
Please don't yell !
This bubble collapse rmptr, is what has led to our current Oil crisis. All the speculators who once were making huge sums of money in a very over inflated housing as well as the debt market, have now moved on to oil as a way to continue their windfall profits. I was waiting for Someone in the Government to step up to the plate and call a halt to such greed motivated factors which are pulling country down into the depths of an economic collapse. maybe place a large Tax on windfall profits that would drive the speculators on to other areas. But I guess besides the fact that many in Congress are also making huge profits in the speculation markets, I think they can't agree on where these same investors would then focus their greedy attention.
 

Zephyr

Hero Member
Nov 26, 2006
600
13
The next big economic shockwave will be when the insurance companies have to start paying out claims for the next natural disaster to hit. They'll start screaming that they'll lose their investments and threaten to go into bankruptcy if they aren't bailed out by the gov't. (The real reason is because they'll be trying to cover their bad investments. In real estate, for one...)
 

Ray S ECenFL

Silver Member
Feb 17, 2007
2,536
20
East Central Florida WP
Detector(s) used
Whites XLT / M6
rmptr said:
Well, that's nice to hear La,

Thanks for the input. I feel better now.
Everything is peaches n' cream!

Think I'll just pull the lawn chair out of the garage and sit in the sun today.
May toss a steak on the BBQ.

Your contribution has improved my whole day.

Best,
rmptr


:laughing11: :sign10: :laughing3:
 

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