Subprime lender Delta Financial Corp. today said it will close offices in Florida, Texas and California, cutting its workforce by 20 percent, or 300 jobs. Quality Home Loans filed for bankruptcy, the 15th lender since December to seek protection. More than 90 have halted operations or sought a buyer.

“I don’t think we are going to see the bottom for at least another six months,” said Edward Resendez, the former Chief Executive Officer of Resmae Mortgage Corp. Resendez sold Resmae to Citadel Investment Group in March at a bankruptcy auction. “The lenders that are struggling out there are not going to survive. As soon as their liquidity runs out they are going to go under as well.”