Orange County mortgage casualties
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Announced and reported layoffs in the Orange County mortgage industry:
Acoustic Home Loans, Orange. Closed in April 2006. Laid off 203 people.
ACC Capital Holdings, Orange. Laid off an estimated 3,000 of the 6,000 employees at its Ameriquest Mortgage Co., Argent Mortgage Co. and AMC Mortgage Serviceson March 15. Reported 1,267 layoffs in Orange County effective May 25 to the EDD. Last year, the companies laid off more than 4,000 people.
Countrywide Home Loans, Anaheim. Reported 59 layoffs in January to the EDD.
Dana Capital Group, Irvine. The lender reportedly shut closed the first week of May. Layoffs unknown.
ECC Capital, Irvine. Sold its mortgage operation to Bear Stearns in February but said it would keep its 350 local workers. The company laid off about 600 people nationwide last year.
Express Capital Lending, Newport Beach. Reported 36 layoffs on March 30 to the EDD.
First NLC Financial Services LLC, Orange. Reported 113 layoffs in March to the EDD.
Fremont Investment & Loan, Brea. The company announced March 2 that it was exiting the subprime business after federal regulators issued a proposed cease and desist order. Reported 62 initial layoffs in Anaheim March 5 to the EDD. Said “many” of its 2,400 employees would be on paid leave until May, after which their jobs would be terminated.
Homeview Lending Inc., Lake Forest. Reported 21 layoffs in March to the EDD.
Impac Mortgage Holdings Inc., Irvine. Announced May 9 that it laid off about 100 people out of about 800 in its workforce nationwide.
Lending Tree, Irvine. Announced May 11 it is laying off 20 percent of its 2,200 workers nationwide, including an estimated 147 in Irvine.
Master Financial Inc., Orange. Stopped lending March 14. Reported 50 Orange County layoffs to the EDD.
New Century Financial Corp., Irvine. Filed for bankruptcy April 2. An initial 2,000 workers were laid off including nearly 500 in OrangeCounty. On May 4, the company announced it would lay off 2,000 additional workers, 500 in OrangeCounty.
Novastar Mortgage Inc., Lake Forest. Reported 56 layoffs March 16 to the EDD.
Option One, Irvine. Parent company H&R Block said in November that it would sell Option One and close 12 branches, none in Orange County. On May 16, it announced 615 layoffs nationwide, including 133 in Orange County.
People’s Choice Home Loan, Irvine. Filed bankruptcy March 20. Web site listed 1,150 workers nationwide. Layoffs unknown.
ResMae Mortgage Corp., Brea. Filed bankruptcy Feb. 12, saying it would keep 800 out of 1,037 jobs. Reported 185 layoffs effective May 19 to the EDD.
WMD-GEMB Mortgage Corp., Costa Mesa. Reported 29 layoffs May 7 to the EDD.
