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

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

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.

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.

Merger Collapses, 2 Companies Launched

Recent mergers, acquisitions and corporate activity

January 2, 2008


A deal to sell PHH Mortgage has collapsed. Meanwhile, two new mortgage companies have been launched.

Melville, N.Y.-based Vertical Lend Inc. announced today it has changed its name to World Alliance financial Corp. The move was made "to better align the company's identity with its expanded product and service offerings, correlating with its recent acquisition by KBC Financial Products, a wholly-owned subsidiary of Belgian-based KBC Bank NV."

The company's wholesale lending unit and reverse mortgage lead provider, Lender Lead Solutions, will maintain its current name.

World Alliance, which claims to be "among the top three reverse mortgage providers in the country," recently announced the hiring of 100 new employees and plans to add 60 more this month. The reverse lending unit was previously operated as Mortgage Warehouse.

National City Corp. slashed its quarterly dividend by half to $0.21 per share, according to an announcement today. The move follows Monday's disclosure that the Cleveland-based company would eliminate 900 wholesale lending jobs and stop accepting mortgage broker business.

"Today's environment requires aggressive steps to overcome the near-term challenges facing the industry and our company," National City Chairman, President and Chief Executive Officer Peter E. Raskind said in the statement. "Our board and management strongly believe that this action is necessary to help meet the challenges ahead and to continue as a strong competitor in the financial services industry."

National City projects 2008 mortgage originations of $15 billion to $20 billion.

Express Capital Mortgage Inc. launched operations in Chandler, Ariz., according to an announcement Friday. The company said it plans to expand rapidly with its advanced technologies and originator commission structures.

Hatteras Financial Corp. has launched in Winton-Salem, N.C., according to a filing with the state. The CEO was listed as Michael R. Hough, while the president was listed as Benjamin M. Hough. On its Web site, the company says it operates as a real estate investment trust, while published reports indicate it will acquire mortgage investments backed by loans guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

A deal where GE Capital Corp. was to acquire PHH Corp. then sell the mortgage operations to The Blackstone Group affiliate Pearl Mortgage Acquisition 2 LLC has collapsed, PHH said in a statement Tuesday. The deal fell apart after Pearl was unable to obtain funding. The termination of the deal will cost Blackstone $50 million.

Marshall & Ilsley Corp. reported today it completed its acquisition of First Indiana Corp. Shareholders of the Indianapolis-based company will receive $32 in cash for each share of First Indiana common stock.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com.

e-mail: [email protected]

Mortgage REIT news | REIT Directory
Coverage of real estate investments trust companies, litigation and corporate activity.

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.

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


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