MBA said the average pre-tax production profit was 33 basis points in the first quarter of 2016, compared to an average net production profit of 22 bps in 4Q15.
According to a statement issued by Guild, the acquisition will make the lender/servicer “one of the largest independent mortgage banking companies in Texas.”
Meanwhile, David Lykken of Transformational Mortgage Solutions told us he was the consultant who “got Chad Overhauser in the business and helped him start AmeriPro.” Overhauser is the president of AmeriPro…
First Mortgage Corp., a privately-held mortgage company based in Ontario, CA, and six executives have agreed to pay the Securities and Exchange Commission $12.7 million to resolve charges they concocted a scheme to defraud investors in Ginnie Mae MBS, the SEC announced this week. According to the SEC’s complaint, from March 2011 through March 2015, FMC repurchased current loans from Ginnie pools that it claimed were delinquent. FMC bought...
Sen. Elizabeth Warren, D-MA, wants the Federal Housing Finance Agency to delay any decision regarding contesting homeowner association foreclosures that will extinguish Fannie Mae and Freddie Mac rights under controversial state super-lien laws. Warren, who co-signed a letter to FHFA Director Mel Watt in May with Sen. Edward Markey, D-MA, and eight Massachusetts lawmakers, wants the FHFA to first solicit public comments on the potential change in policy. Under super-lien laws in 22 states, including Massachusetts, and the District of Columbia community associations are given...
According to figures compiled by Inside Mortgage Finance, Caliber ranks 13th among originators, based on first quarter figures and 17th among servicers.
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