twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.



Florida Firm Alive Despite Rumors

TransLand branded dead on Internet blog

August 17, 2007

By PAULA PARISOT


photo of Paula Parisot
Paula Parisot

Rumors surrounding the shut down of wholesale operations for a privately held Florida-based mortgage bank were dispelled, but not before causing some chaos.

What stemmed from the layoff of 18 account executives at TransLand Financial Services escalated into a fiasco when an anonymous "tipster" reportedly told a popular blog site that TransLand was closing its wholesale operations, according to a company executive.

"I had to spend the whole afternoon calling our investors," Jonathon Woods, senior vice president capital markets for the Maitland, Fla.-based company, told MortgageDaily.com.

Woods said he was disappointed that the post made it on the Internet without the facts being checked first, but has since been given the opportunity to rebut the post with a company statement.

The statement, also forwarded to MortgageDaily.com, explains that the company has made some strategic reductions in their workforce, including the layoff of 18 account executives but is still funding wholesale loans.

"We are currently funding wholesale loans and are in the process of focusing our efforts on a more regional basis utilizing an inside sales team and a limited number of wholesale account executives," the statement explained. "We believe in the wholesale mortgage business and are committed to building long-lasting partnerships with our broker customers."

TransLand has been in business since 1996 and handles primarily A paper originations, Woods said. Right now, the company has limited its product offerings to conforming, FHA and VA and jumbo loan programs.

Woods further explained that several employees who were laid off were former employees of a predominately subprime company and TransLand was under the impression that they were familiar with A paper originations. But it did not work out as the company had hoped.

TransLand currently has 113 employees, is licensed in 26 states and has thousands of brokers, he added.

"We are committed to the mortgage business and believe that we can be successful long-term partners with the mortgage broker community." Woods said in the statement.


Paula Parisot is a MortgageDaily.com feature reporter and a blogger at CloserBlog.com who has also worked in the mortgage industry.

e-mail Paula at: [email protected]


Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders