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/

Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.



Florida Firm Launches Correspondent Division

FBC reports growth

Feb. 15, 2013

By Mortgage Daily staff


A Florida lender that was recently acquired reached a production milestone last year, opened a correspondent division and has expanded its staff.

An announcement in October indicated that FBC Mortgage Inc. was being acquired by Sterne Agee Group Inc.

Orlando-based FBC reported at the time that it was licensed in 15 states with employees in Florida and Colorado.

"This merger will give us the resources to continue our growth while providing our initial members with a liquidity opportunity," FBC Chairman and Co-CEO Sal A. Nunziata said in the October announcement.

FBC had already been originating through retail and wholesale lending channels.

But around six months ago it opened CloseQuick, a correspondent division that deals primarily with community banks, according to a statement from FBC Co-CEO and President Rob Nunziata.

"This should be a great fit with our new parent Sterne Agee," Nunziata stated. "Sterne currently works with several hundred community banks in an investment advisory role."

He noted that many of the community banks aren't currently in the residential lending business, while others are looking to expand their mortgage operations.

Former Fannie Mae executive Gary Manfredi was hired as the executive director of the correspondent unit, while former MetLife executive Jacquie Freshour was recruited to run the operations.

Most of the loans acquired through the correspondent channel are serviced by FBC.

Nunziata reported that 2012 originations were 5,411 loans for $1.044 billion, nearly doubling the 3,140 loans originated for $0.527 billion in 2011.

Staffing at FBC has grown from 143 employees as of Dec. 31, 2011, to 208 people as of Sept. 30, 2012. The lender finished last year with 230 employees.

FBC Mortgage profile

next story

back to current headlines


Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


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.


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



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