tag:blogger.com,1999:blog-9922936.post2097327182775223798..comments2023-06-28T10:35:50.334-04:00Comments on Welcome to The Kicker!: The Man Who May Cost Cleveland 4000 JobsUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-9922936.post-69952076858575114892008-11-25T14:41:00.000-05:002008-11-25T14:41:00.000-05:00Here are the lenders that have shut their doors to...Here are the lenders that have shut their doors to date...<BR/>Imploded* Lenders™<BR/><BR/><BR/>305. Fortes Financial - Wholesale<BR/>304. HSBC Mortgage Corp. - Wholesale<BR/>303. CBRE Realty Finance<BR/>302. Franklin Bank, SSB<BR/>301. Mortgage Lion, Inc. - Wholesale<BR/>300. HMS Capital, Inc.<BR/>299. American Sterling Bank - Wholesale<BR/>298. CTX Mortgage Co. - Retail<BR/>297. Equity One Commercial<BR/>296. Coldstream Financial Svcs.<BR/>295. Banco Popular North America - Wholesale<BR/>294. Ace Mortgage Funding, LLC<BR/>293. E-Loan<BR/>292. Gateway Bank, F.S.B. - Wholesale<BR/>291. First Call Mortgage Co.<BR/>290. Downey Savings and Loan - Wholesale<BR/>289. Prospect's Metrocities Mortgage - Wholesale<BR/>288. ComCor Mortgage - Wholesale<BR/>287. Chevy Chase Bank - Wholesale<BR/>286. Washington Mutual - Retail and Warehouse<BR/>285. Hometown Commercial Capital<BR/>284. Mid Atlantic Capital LLC<BR/>283. Kemper Mortgage, Inc.<BR/>282. Liberty Mortgage Funding Co.<BR/>281. Freddie Mac<BR/>280. Fannie Mae<BR/>279. Pacific Community Mortgage, Inc. - Gold Reverse, Inc.<BR/>278. Homecomings Financial, LLC<BR/>277. Thornburg Mortgage<BR/>276. CSB Mortgage<BR/>275. Carteret Mortgage Corporation<BR/>274. Accredited Home Lenders, Lone Star Funds - Wholesale<BR/>273. Western Residential Mortgage<BR/>272. Liberty Home Lending - Wholesale<BR/>271. Equipoint Financial Network, Inc.<BR/>270. Ideal Mortgage Bankers, Ltd. - Wholesale<BR/>269. Silver State Bank - Wholesale<BR/>268. Irwin Union Bank & Trust Co. - Wholesale<BR/>267. SunTrust Bank Equity Wholesale<BR/>266. Wachovia Mortgage, FSB - Wholesale<BR/>265. Lehman Brothers SBF<BR/>264. IndyMac Bancorp<BR/>263. Mortgages Ltd.<BR/>262. Wilmington Finance - Wholesale<BR/>261. Accredited Home Lenders, Home Funds Direct<BR/>260. Assured Lending Corp. - Wholesale<BR/>259. Homewide Lending Corporation<BR/>258. Vanguard Mortgage & Title, Inc.<BR/>257. Chase Home Equity - Wholesale<BR/>256. Chase Subprime - Wholesale<BR/>255. Evergreen Investment & Carnation Banc<BR/>254. Casa Blanca Mortgage/Shearson - Wholesale<BR/>253. Guaranty Bank - Correspondent<BR/>252. Citi Residential Lending<BR/>251. Montgomery Mortgage Capital Company<BR/>250. E*Trade Wholesale Lending<BR/>249. Shearson Financial Network, Inc.<BR/>248. American Bank Mortgage Group - Wholesale<BR/>247. AmeriBanc Corp.<BR/>246. Washington Mutual - Wholesale<BR/>245. Century Bank, F.S.B. - Wholesale<BR/>244. Diversified Mortgage, Inc.<BR/>243. National Wholesale Funding<BR/>242. Centennial Mortgage and Funding, Inc./Award Mortgage<BR/>241. Fidelity Home Mortgage Corp. - Wholesale<BR/>240. LMI Funding, Inc.<BR/>239. Millennium Mortgage - Wholesale<BR/>238. Origen Financial, Inc. (Correspondent) <BR/>237. CitiMortgage - Home Equity Wholesale<BR/>236. Bear Stearns Residential Mortgage<BR/>235. East West Mortgage Co. of VA<BR/>234. New Vision Residential Lending<BR/>233. Washington Savings Bank, F.S.B. - Wholesale<BR/>232. Macquarie Mortgages USA Inc.<BR/>231. Global Mortgage, Inc.<BR/>230. Unique Mortgage Solutions (UMS, LLC)<BR/>229. First Franklin - Merrill Lynch<BR/>228. First National Mortgage Sources<BR/>227. Resource Mortgage (Wholesale)<BR/>226. KH Financial<BR/>225. Lydian Mortgage<BR/>224. OMG Wholesale Lending<BR/>223. Saxon Mortgage (Wholesale)<BR/>222. Beazer Mortgage Corp.<BR/>221. Allpointe Mortgage (Broker Program)<BR/>220. Popular Warehouse Lending<BR/>219. Allied Lending Corp. (Wholesale)<BR/>218. BF Saul Wholesale Lending<BR/>217. Community Resource Mortgage<BR/>216. Lehman/Aurora Loan Services<BR/>215. Residential Mortgage Capital <BR/>214. Maverick Residential Mortgage<BR/>213. Countrywide Financial Corp.<BR/>212. First NLC Financial Services<BR/>211. First American Bank (Wholesale)<BR/>210. Soma Financial<BR/>209. National City Corp. (Wholesale)<BR/>208. Heartland Wholesale Funding<BR/>207. Homefront Mortgage Inc.<BR/>206. PNC Bank H.E.<BR/>205. Family First Mortgage Corp.<BR/>204. First Fidelity Financial<BR/>203. BSM Financial<BR/>202. 1st Choice Mortgage<BR/>201. Wescom Credit Union<BR/>200. Coast Financial Holdings/Coast Bank<BR/>199. WaMu (Subprime)<BR/>198. First Madison Mortgage<BR/>197. Southern Star Mortgage<BR/>196. TransLand Financial<BR/>195. Secured Bankers Mortgage Company (SBMC)<BR/>194. ComUnity Lending<BR/>193. Delta Financial Corp<BR/>192. BayRock Mortgage<BR/>191. Empire Bancorp<BR/>190. Option One - H&R Block<BR/>189. Citigroup - FCS Warehouse<BR/>188. Charter One (Wholesale)<BR/>187. Wells Fargo - Home Equity<BR/>186. Paul Financial, LLC<BR/>185. Webster Bank (Wholesale)<BR/>184. Fieldstone Mortgage Company<BR/>183. Tribeca Lending Corp. (Wholesale)<BR/>182. WAMU Comm. Correspondent<BR/>181. Marlin Mortgage Company<BR/>180. Countrywide Specialty Lending<BR/>179. UBS Home Finance<BR/>178. MortgageIT-DB (Retail)<BR/>177. Edgewater Lending Group<BR/>176. ResMAE Mortgage Corp.<BR/>175. Citimortgage Correspondent (2nds)<BR/>174. AMC Lending<BR/>173. Liberty American Mortgage<BR/>172. Exchange Financial (Wholesale)<BR/>171. FirstBank Mortgage<BR/>170. Bank of America (Wholesale)<BR/>169. Diablo Funding Group Inc.<BR/>168. Honor State Bank<BR/>167. Spectrum Financial Group<BR/>166. Priority Funding Mortgage Bankers<BR/>165. BrooksAmerica Mortgage Corp.<BR/>164. Valley Vista Mortgage<BR/>163. New State Mortgage Company<BR/>162. Summit Mortgage Company<BR/>161. WMC<BR/>160. Paragon Home Lending<BR/>159. First Mariner Wholesale<BR/>158. The Lending Connection<BR/>157. Foxtons, Inc.<BR/>156. SCME Mortage Bankers<BR/>155. Aapex Mortgage (Apex Financial Group)<BR/>154. Wells Fargo (various Correspondent and Non-prime divisions)<BR/>153. Nationstar Mortgage<BR/>152. Decision One (HSBC)<BR/>151. Impac Lending Group<BR/>150. Long Beach (WaMu Warehouse/Correspondent)<BR/>149. Expanded Mortgage Credit Wholesale<BR/>148. The Mortgage Store Financial<BR/>147. C & G Financial<BR/>146. CFIC Home Mortgage<BR/>145. All Fund Mortgage<BR/>144. LownHome Financial<BR/>143. Sea Breeze Financial Services<BR/>142. Castle Point Mortgage<BR/>141. Premium Funding Corp<BR/>140. Group One Lending<BR/>139. Allstate Home Loans / Allstate Funding<BR/>138. Home Loan Specialists (HLS)<BR/>137. Transnational Finance Wholesale<BR/>136. CIT Home Lending<BR/>135. Capital Six Funding<BR/>134. Mortgage Investors Group (MIG) - Wholesale<BR/>133. Amstar Mortgage Corp<BR/>132. Quality Home Loans<BR/>131. BNC Mortgage (Lehman)<BR/>130. First National Bank of Arizona<BR/>129. Chevy Chase Bank Correspondent<BR/>128. GreenPoint Mortgage - Capital One Wholesale<BR/>127. NovaStar, Homeview Lending<BR/>126. Quick Loan Funding<BR/>125. Calusa Investments<BR/>124. Mercantile Mortgage<BR/>123. First Magnus<BR/>122. First Indiana Wholesale<BR/>121. GEM Loans / Pacific American Mortgage (PAMCO)<BR/>120. Kirkwood Financial Corporation<BR/>119. Lexington Lending<BR/>118. Express Capital Lending<BR/>117. Deutsche Bank Correspondent Lending Group (CLG)<BR/>116. MLSG<BR/>115. Trump Mortgage<BR/>114. HomeBanc Mortgage Corporation<BR/>113. Mylor Financial<BR/>112. Aegis<BR/>111. Alternative Financing Corp (AFC) Wholesale<BR/>110. Winstar Mortgage<BR/>109. American Home Mortgage / American Brokers Conduit<BR/>108. Optima Funding<BR/>107. Equity Funding Group<BR/>106. Sunset Mortgage<BR/>105. Nations Home Lending<BR/>104. Entrust Mortgage<BR/>103. Alera Financial (Wholesale)<BR/>102. Flick Mortgage/Mortgage Simple<BR/>101. Dollar Mortgage Corporation<BR/>100. Alliance Bancorp<BR/>99. Choice Capital Funding<BR/>98. Premier Mortgage Funding<BR/>97. Stone Creek Funding<BR/>96. FlexPoint Funding (Wholesale & Retail)<BR/>95. Starpointe Mortgage<BR/>94. Unlimited Loan Resources (ULR)<BR/>93. Freestand Financial<BR/>92. Steward Financial<BR/>91. Bridge Capital Corporation<BR/>90. Altivus Financial<BR/>89. ACT Mortgage<BR/>88. Alliance Mortgage Banking Corp (AMBC)<BR/>87. Concord Mortgage Wholesale<BR/>86. Heartwell Mortgage<BR/>85. Oak Street Mortgage<BR/>84. The Mortgage Warehouse<BR/>83. First Street Financial<BR/>82. Right-Away Mortgage<BR/>81. Heritage Plaza Mortgage<BR/>80. Horizon Bank Wholesale Lending Group<BR/>79. Lancaster Mortgage Bank (LMB)<BR/>78. Bryco (Wholesale)<BR/>77. No Red Tape Mortgage<BR/>76. The Lending Group (TLG)<BR/>75. Pro 30 Funding<BR/>74. NetBank Funding, Market Street Mortgage<BR/>73. Columbia Home Loans, LLC<BR/>72. Mortgage Tree Lending<BR/>71. Homeland Capital Group<BR/>70. Nation One Mortgage<BR/>69. Dana Capital Group<BR/>68. Millenium Funding Group<BR/>67. MILA<BR/>66. Home Equity of America<BR/>65. Opteum (Wholesale, Conduit)<BR/>64. Innovative Mortgage Capital<BR/>63. Home Capital, Inc.<BR/>62. Home 123 Mortgage<BR/>61. Homefield Financial<BR/>60. First Horizon Subprime, Equity Lending<BR/>59. Platinum Capital Group (Wholesale)<BR/>58. First Source Funding Group (FSFG)<BR/>57. Alterna Mortgage<BR/>56. Solutions Funding<BR/>55. People's Mortgage<BR/>54. LowerMyPayment.com<BR/>53. Zone Funding<BR/>52. First Consolidated (Subprime Wholesale)<BR/>51. EquiFirst<BR/>50. SouthStar Funding<BR/>49. Warehouse USA<BR/>48. H&R Block Mortgage<BR/>47. Madison Equity Loans<BR/>46. HSBC Mortgage Services (correspondent div.)<BR/>45. Sunset Direct Lending<BR/>44. Kellner Mortgage Investments<BR/>43. LoanCity<BR/>42. CoreStar Financial Group<BR/>41. Ameriquest, ACC Wholesale<BR/>40. Investaid Corp.<BR/>39. People's Choice Financial Corp.<BR/>38. Master Financial<BR/>37. Maribella Mortgage<BR/>36. FMF Capital LLC<BR/>35. New Century Financial Corp.<BR/>34. Wachovia Mortgage (Correspondent div.)<BR/>33. Ameritrust Mortgage Company (Subprime Wholesale)<BR/>32. Trojan Lending (Wholesale)<BR/>31. Fremont General Corporation<BR/>30. DomesticBank (Wholesale Lending Division)<BR/>29. Ivanhoe Mortgage/Central Pacific Mortgage<BR/>28. Eagle First Mortgage<BR/>27. Coastal Capital<BR/>26. Silver State Mortgage<BR/>25. ECC Capital/Encore Credit<BR/>24. Lender's Direct Capital Corporation (wholesale division)<BR/>23. Concorde Acceptance<BR/>22. DeepGreen Financial<BR/>21. American Freedom Mortgage, Inc.<BR/>20. Millenium Bankshares (Mortgage Subsidiaries)<BR/>19. Summit Mortgage<BR/>18. Mandalay Mortgage<BR/>17. Rose Mortgage<BR/>16. EquiBanc<BR/>15. FundingAmerica<BR/>14. Popular Financial Holdings<BR/>13. Clear Choice Financial/Bay Capital<BR/>12. Origen Wholesale Lending<BR/>11. SecuredFunding<BR/>10. Preferred Advantage<BR/>9. MLN<BR/>8. Sovereign Bancorp (Wholesale Ops)<BR/>7. Harbourton Mortgage Investment Corporation<BR/>6. OwnIt Mortgage<BR/>5. Sebring Capital Partners<BR/>4. Axis Mortgage & Investments<BR/>3. Meritage Mortgage<BR/>2. Acoustic Home Loans<BR/>1. Merit Financial<BR/><BR/><BR/>Here are the ones on the ailing watch list. If you have money/stocks in any I would recommend moving it.<BR/>Ailing/Watch List Lenders™:<BR/>13. Velocity Commercial Capital<BR/>12. CitiMortgage Wholesale Lending<BR/>11. Wachovia - <BR/>10. Chase Prime <BR/>9. The Mortgage Specialists<BR/>8. Bayview Lending Group, LLC<BR/>7. American Equity Mortgage, Inc.<BR/>6. BankUnited <BR/>5. MortgageIT<BR/>4. Sallie Mae<BR/>3. Meridias Capital<BR/>2. Doral Financial Corp.<BR/>1. Residential Capital, LLCAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9922936.post-83467727647102453762008-11-25T13:37:00.000-05:002008-11-25T13:37:00.000-05:00I feel bad for the National City Banks employees, ...I feel bad for the National City Banks employees, believe me, I do. Every day before coming to work, I even check the MortgageImplode.com myself to see if I have a job/bank to come to BEFORE leaving the house. however, in regrds to NCB already has stiffed Merrill Lynch and if PNC is willing to pick up the pieces??? Please read on...Story from the Plain Dealer Business section...As follow:<BR/><BR/>Merrill Lynch says National City misrepresented First Franklin deal<BR/>Posted by Teresa Dixon Murray April 23, 2008 17:41PM<BR/>Categories: Banks, Breaking News, National City<BR/>After spending $1.3 billion to buy National City Corp.'s subprime mortgage division in late 2006, Merrill Lynch & Co. closed the operation last month. The market for risky mortgages has simply evaporated nationwide. <BR/><BR/>Now Merrill Lynch is accusing National City of misrepresentation. <BR/><BR/>The notice to National City was dated April 10, but National City disclosed it only this week in a regulatory filing with the U.S. Securities and Exchange Commission. <BR/><BR/>Merrill Lynch claims that National City misrepresented "alleged losses" associated with buying back certain loans.<BR/><BR/>"Given the preliminary stage of this claim," National City said in the filing, "it is not possible for management to assess the probability of a material adverse outcome, or reasonably estimate the amount of potential loss, if any." The bank declined additional comment Wednesday. <BR/><BR/>Merrill Lynch agreed to the purchase in September 2006. <BR/><BR/>National City bought California-based First Franklin from a subsidiary of Bank of America for $266 million in 1999. First Franklin specialized in mortgages for people with poor credit ratings who could only qualify for mortgages at high interest rates. The mortgages are highly profitable for banks, but are also highly risky. <BR/><BR/>By 2003, First Franklin was generating $30 billion a year in loans. The price Merrill Lynch paid for it yielded a profit of $1 billion for National City. But last month Merrill Lynch closed First Franklin because it had become worthless. First Franklin employed 2,100 last year. <BR/><BR/>At the time of the deal, Merrill bought $6 billion in National City's subprime loans but wouldn't take an additional $10 billion worth because they were even riskier. <BR/><BR/>At about the same time it bought First Franklin, Merrill Lynch made three other acquisitions of mortgage-related companies. In 2006, Merrill Lynch said in a written statement that First Franklin accelerated its penetration into home loans. <BR/><BR/>That had crash-and-burn consequences. Merrill Lynch, the world's largest brokerage, forced out Chief Executive Stan O'Neal last year after Merrill Lynch announced a third-quarter loss of $2.3 billion and an $8.4 billion charge-off for failed credit- and mortgage-related investments. <BR/><BR/>Merrill Lynch's woes went beyond First Franklin, and Merrill Lynch has continued to feel the subprime pain as it posted a mammoth $10 billion loss in last year's fourth quarter and another $2 billion loss in this year's first quarter.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9922936.post-86816608221894023952008-11-25T13:02:00.000-05:002008-11-25T13:02:00.000-05:00National City Bank is the parent co. of First Fran...National City Bank is the parent co. of First Franklin Mortgage or First Franklin Bank. First Franklin is the #1 predatory lender for Ohio and one of the biggest faults of the foreclosures and the distruction of Cleveland. <BR/>Personally...NCB is crooked all the way around and I can tell you horror stories of folks whoms lives have been destroyed.<BR/> Just look up or google First Franklin lending out of Cleveland and see for yourself.<BR/>THE reason they are not getting bail out money is they are under investigation for major fraud.<BR/>It's real important to understand why some lenders will not be, should not be bailed out.Anonymousnoreply@blogger.com