Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Mortgage Companies Implode- The Full List of 218 Thus Far

Mortgage Companies Implode- The Full List of 218 Thus Far

 

I found a very cool website today.  It lists all the mortgage companies that have closed their doors, and in the order that they closed.  As of this post, the list is at 218!! I found myself going through the list, from bottom to top, with my jaw dropping on the floor.  I knew many of the names that would be on the list, but I was surprised by many.

Ameriquest is even on the list, and that leaves us wondering what the name of the Texas Rangers Stadium is going to be next year.

Did you see your favorite lender on the list?  Those were good times...

 

**the above graphic was taken from their website
**you need to scroll down to the bottom of the page for the list

Comment balloon 12 commentsDonna Harris • January 18 2008 07:10PM

Comments

I love that list, my husband sent it to me last March. I check it every so often. Definitely a useful tool and intersting to say the least!
Posted by Diane McDermott, Charlotte NC Real Estate Market (Realtor®, GRI, Landis e2 Real Estate, LLC) over 10 years ago
Wow, what a list, I saved in my bookmarks to refer back to as I hadn't seen it. Thank you.
Posted by Missy Caulk, Savvy Realtor - Ann Arbor Real Estate (Missy Caulk TEAM) over 10 years ago

Saw a few on there that I recognize. Thanks for the list.

Posted by JL Boney, III, Columbia, SC Real Estate (Coldwell Banker) over 10 years ago

Thanks for reminding me of that site.  I have it book marked, but it is too depressing to go there!  When you really think of it we have numbed ourselves for a quick fix to this problem, there isn't any!  It has to go through a process.  This week we had really the largest lender failure in the the United States ever.  Bank of America bought out Countrywide...and no one on AR is really talking about it.   The reason BOA purchased Countrywide is that it already had sunk a fortune into it!  Rest assured, it wasn't a sale, it was a catastrophe!  The website you pointed out bears it out with all the mortgage company closures.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (Crye-Leike REALTORS®) over 10 years ago

Note the Subprime financiing and the Home Equity divisions/2nd Mortgage divisions.  It is going to take awhile for our market to pull itself together.

Posted by Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate (REALTY WORLD-Harbert Company, Inc.) over 10 years ago
Donna,  Thanks for the blog.  I found that site a few months back.  It was at 144 then  It is interesting to see another 74 companies have bit the dust.  Kind of scary.
Posted by Jimmy McCall, The Ex-Mortgage Consultant (JimmyMcCall.com) over 10 years ago
I just clicked and saw a mortgage company that gave me a loan when I probably should have only been able to get a sub-prime mortgage!  They saved my neck with a no-doc, no anything loan at a pretty low rate.  I've refinanced since then, but I will always have a soft spot in my heart for the loan officer who made it work.
Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 10 years ago
The Rangers dropped the Ameriquest Field name last year and they renamed it Rangers Ballpark in Arlington and they removed that large Ameriquest bell in the outfield.  I haven't heard if they got a new sponsor.  
Posted by Linda Box Taylor, Your Plano, TX Realtor (Castle Connections Realty) over 10 years ago

Yes, this is a very scary list.  Thanks for all the comments everyone!

Linda, It was previously the Ballpark in Arlington.  Are you sure?  I remember seeing the Ameriquest signs and such this past season. hmm...

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 10 years ago

This is simply unbelievable! The real question is where will it end. I still believe that this was a necessary part of the reallignment that needed to take place....kinda like hitting a reset button. I'm bookmarking!

Posted by Elizabeth Nieves, Bilingual Raleigh - Durham North Carolina Real Estate Team (The Elizabeth Nieves Realty Group) over 10 years ago
Elizabeth, Hitting a reset button is a great analogy!  I'm hooked on the site and have gone to it a few times just to read more about what's going on.
Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 10 years ago

Interesting site until YOU are on it....

LOL,

We are #215

Posted by Tom Burris, Texas/Louisiana Mortgage Pro - 13 YRS Experience (NMLS# 335055) over 10 years ago

Participate