DSNews The homepage of the servicing industry
Fewer mortgaged-related businesses had to shut down their doors during the first six months of this year compared to the same time period a year ago in 2011, according to the Mortgage Graveyard report released by ""Mortgage Daily"":http://www.mortgagedaily.com/.
The number of mortgage-related business which closed in the first half of 2012 decreased by about 30 percent over a one-year period, with 52 business failures in the first half of 2012 compared to 74 in 2011.
The tally for 2012 includes 31 banks, 13 nonbanks, and 8 credit unions. Last year's figure included 48 banks, 10 nonbanks, and 16 credit unions.
MetLife Bank, Saxon Mortgage Services, and Residential Capital LLC are all examples of companies in the mortgage sector that were included in the total so far this year.
