Mortgage Biz
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…
On June 24, Plano lender First Guaranty Mortgage notified more than 400 of its employees during a virtual call that they no longer had jobs at the company. According to the company’s WARN Act filing with the Texas Workforce Commission, the mass layoff was the result of “significant operating losses and cash flow challenges due…
As the nation’s economy unravels from the effects of Covid-19, here’s some good news: At least one major bank is offering consumer and small business clients mortgage relief and other consumer-friendly breaks. HousingWire reported late Thursday that Bank of America is offering clients a mortgage deferral program on loans in the bank’s portfolio: Bank of…
Alert the press (already did), Hayden Hodges has moved. Formerly with Cornerstone Mortgage, Benchmark Bank and most recently, Caliber Mortgage, Hodges is now with US Bank. Wait, they bank here in Texas? As a matter of fact, they do. They’re moving into Texas and starting with mortgage lending. Hodges was hired to build the team…
Remember the Great Recession and resulting cascade of foreclosures that exposed lax mortgage practices highlighted by the poster-child of “robo-signing”? At the center of it all was MERSCORP Holdings, Inc., and their confusingly-named MERS System and Mortgage Electronic Registration Systems, Inc. Earlier this month, Intercontinental Exchange (the other ICE) acquired the remaining minority stake in…
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