|
|
|
|
| Last Updated |
Wednesday, February 03, 2010 |
09:39 AM |
Texas Time |
Latest Net Branch Headlines
|
Six banks that failed Friday are expected to cost the nation's insurance fund for bank deposits more than $2.3 billion. In other Mortgage Graveyard activity, the head of a branch operation is calling it quits for his company and warns that the same fate faces similar firms, while two government lenders that recently faced government actions have halted new business.
The bank seizures started with Carrollton, Ga.-based First National Bank of Georgia, which was closed by the Office of the Comptroller of the Currency after it found that First National "had experienced substantial dissipation of assets and earnings due to unsafe and unsound practices," an OCC statement said.
The OCC -- which issued a prompt corrective action against the bank in December and executed a formal agreement earlier in the year -- added that it was unlikely "the bank will become adequately capitalized without federal assistance."
read full story |
|
|
|
A growing wholesaler is entering the East Coast market through Maryland. The wholesale expansion will be followed by an expansion at its net branch unit.
|
Why Are All of the Top Producers Joining the HomeTown Family?
|
|
A reverse mortgage lender has turned to an attorney to lead the company, and a growing net branch operation has hired an executive to oversee further expansion. Other recent mortgage-related executive activity involved servicing, securitization and banking businesses.
|
|
|
Mortgage education providers are lining up courses to help originators meet upcoming state requirements under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
|
In addition to one net branch, two wholesale lending operations and two credit unions that were closed down last week, nine banks failed on Friday.
|
Net branch acquisitions are forecasted to increase.
|
A mortgage banking firm with wholesale and branch operations saw annual originations exceed $1 billion. The company's chief is embracing high-quality mortgage brokers.
|
A mortgage executive has been found to replace the spot left open by the new Federal Housing Administration Commissioner. A Texas-based net branch operation has hired an executive to recruit more branches, while the chairmen of two financial institutions and a commercial mortgage lender are stepping down.
|
|
|
As several small firms announce big increases in loan originations, a number of companies are providing production support for fledging lending operations. One net branch has already exceeded last year's originations.
|
Six firms have recently been busy expanding their branch networks, while a new net branch directory provides prospective brokers with information on more than two dozen net branch operations. The self-proclaimed biggest U.S. broker settled with Georgia regulators allegations of unlicensed originators.
|
complete archives of Net Branch news and stories
|
Mortgage Broker News
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.
|
|
|
|
|
|
