Employees Take Over USA Mortgage
Employees of USA Mortgage have become the owners of the company, though the current owner will stay on as chief executive officer.
C-Suite Guilty Pleas at Defunct Mortgage Banker
Guilty pleas have been given by two of three former top executives of defunct mortgage banking firm who are accused of defrauding warehouse lenders on nearly $9 million in draws.
Nationstar Merging With Former WaMu Bank Parent
The former parent of Washington Mutual Bank is merging with Nationstar Mortgage Holdings Inc. The transaction follows the sale of Nationstar's primary shareholder.
Small Banks, CUs That Survived Great Recession
Bank failures, especially in Florida, seemed like a daily occurrence during the recession. A few smaller surviving financial institutions attribute several factors to their endurance.
Fiserv Selling Majority Interest in Lending Unit
The planned sale of a majority of Fiserv Inc.'s lending unit will include its mortgage servicing software but will exclude its mortgage origination system.
Mortgage Earnings, Lending Worsen at HomeStreet
Mortgage originations declined at HomeStreet Inc. and are likely to fall further. Although mortgage losses continued, residential servicing and assets expanded.
Guild Mortgage Making Acquisition
A mortgage banking firm in the Midwest that generates a billion dollars in loan production annually is being acquired by Guild Mortgage Co.
Bank Owner Pleads Guilty to Mortgage Fraud
A major stockholder in a bank that failed several years ago has admitted to deceiving officials about his interest in loans made by the bank and to mortgage fraud.
Japanese Firm Acquires Major Nationstar Investor
An investment firm with a major stake in Nationstar Mortgage LLC has been acquired by a Japanese firm with investments in giant global organizations.
Wholesaler, Bank and Credit Union Fail
Over the past month, mortgage-related businesses to close or fail include a bank, a credit union and the wholesale division of a large bank.