Meritage Mortgage - Subprime unit of NetBank
94 people lost their jobs or were transferred.
(Update, 2007-02-07): Losses connected to the shutdown of this segment and the unstoppable flood of delinquencies have hit NetBank "harder than expected":
Hilariously, they're looking to sell their ATM and merchant servicing business to make their bills. Reminds me of the distressed consumers they preyed upon to goose those subprime origination profits back in the "good 'ol days" (of three months ago).
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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a 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 "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.