Mortgage Biz
Despite all the talk about how high mortgage rates have been, they’ve actually been creeping down this year. That being said, borrowers in some states enjoyed steeper decreases than others. Unfortunately for prospective homebuyers in Texas, the Lone Star State came in near the bottom of the barrel. A recent WalletHub ranking of mortgage rate…
Between high interest rates and dizzying listing prices, the housing market’s been tough for first-time homebuyers to break into. Now, while the Federal Reserve might be coming to the rescue over the course of the next year or so, some lenders are getting creative with specialized products geared toward folks with limited liquidity. Before diving…
A Dallas-based short-term lending platform with serious money behind it is looking to scale up and become the go-to source of reliable financing for home flippers. Crebrid (think credit and bridge, as in bridge loan) has gone all-in on leveraging AI to put itself at the forefront of fintech. The company previously operated out of…
By Ryan Casey Stephens, FPQP®Special Contributor Drive past the Legacy Place West building in Plano and you’ll notice a few more open parking spaces. What was a bustling business hub now hosts only a sparse number of true Texans strategically sheltered under a few shade trees. This was where First Guaranty Mortgage’s offices were located.…
Sounds like those former employees who said that First Guaranty Mortgage Corporation was “essentially shuttered” weren’t wrong. The Plano-based lender and its affiliate, Maverick II Holdings, have filed for Chapter 11 bankruptcy protection. First Guaranty laid off approximately 75 percent of its workforce last Friday in a mass call, citing “significant operating losses and cash…
