twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

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

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

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

Press Releases
Reports and announcements from

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









site map
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.

Bank-Mortgage Mergers Continue

Recent mortgage merger activity

Sept. 23, 2015

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Following a recent spate of mergers between banks and mortgage firms, two more such deals are in the works. Several other mortgage mergers and acquisitions have also closed.

The sale of Castle Mortgage Corp. netted parent-Bexil American Mortgage Inc. $725,000 in cash, an announcement Wednesday said.

Bexil withdrew $4.7 million in cash and receivables from Castle at the closing, and the buyer -- which was not identified in the statement -- recapitalized the lender.

Castle is a wholesale lender based in San Diego. It was only acquired by Bexil in January 2013.

First Cloud Mortgage Inc. has been created by eXp Realty International Corp., a Sept. 11 statement said. The new Delaware corporation has reportedly obtained its Nationwide Mortgage Licensing System number.

eXp's interest in the new company is 80.5 percent, while First Cloud Mortgage President Timothy Mulvehill and First Cloud Vice President Victor Butschek own the remaining 19.5 percent.

An agreement was reached for Randolph Bancorp to acquire First Eastern Mortgage parent-First Federal Savings Bank of Boston and the bank-holding company First Eastern Bankshares Corp., a news release earlier this month said.

First Eastern Mortgage operates eight loan production offices and an operations center in Massachusetts. The company services $0.7 billion in home loans.

The transactions is expected to close in late 2015 or early 2016, subject to regulatory approval.

"When the transaction is completed, Randolph Savings Bank expects to originate over $500 million annually in new residential mortgage loans," the statement said. "As part of the transaction, Peter J. Fraser, long-time President of First Eastern, will lead the combined residential lending division with Ryan Kirwin, current SVP of Residential Lending at Randolph Savings."

Professional Mortgage Services Inc. is a mortgage broker based in Berlin, Maryland. The 25-year-old company originates both residential and commercial real estate loans.

An article published by KMALand last month indicated that Tri-Valley Bank is acquiring Professional Mortgage in a deal expected to close this month, subject to regulatory approval. The broker will become a bank office and keep its current staff.

The acquisitions by Randolph Savings Bank and Tri-Valley Bank follow HarborOne Bank's July acquisition of Merrimack Mortgage Company Inc., First Financial Bank, N.A.'s, purchase of 4Trust Mortgage and the acquisition of a controlling interest in Goldwater Bank, N.A., by Westar Mortgage Corp.-owner Kent Wiechert.

A sizable stake in First Guaranty Mortgage Corp. has been acquired by one of PIMCO's investment funds, Inside Mortgage Finance reported Monday. Frederick, Maryland-based FGMC is reportedly on track to originate $4 billion this year.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

[email protected]

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

Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
Bank news

Logout forgot

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