Mortgage Daily Logo

Warehouse Lender Acquired

Mortgage News

Mortgage Daily

                                                 January 2, 2015

The acquisition of a mortgage warehouse provider out of Texas has been completed. The deal creates one of the state’s largest local banks.

Southwest Securities, FSB, was established in March 1986, according to data provided by the Federal Deposit Insurance Corp.

As of Sept. 30, 2014, the 139-employee financial institution’s investment portfolio included $73 million in residential loans, $338 million in commercial real estate loans and $16 million in construction-and-land-development loans.

The Dallas-based bank
provides mortgage warehouse lines of credit ranging from $2 million to $20 million.

In April 2014,
Hilltop Holdings Inc. made an offer to acquire Southwest Securities’ parent, SWS Group.

On Thursday, Dallas-based Hilltop Holdings, parent of PrimeLending, announced that it completed the $350 million acquisition.

Southwest Securities has been merged into Hilltop Holdings-subsidiary PlainsCapital Bank, creating the fifth-largest bank based in Texas,
according to the announcement.

SWS’ broker-dealer units
Southwest Securities Inc. and SWS Financial Services Inc. now operate as Hilltop Securities Holdings LLC. Another unit, First Southwest, will operate as a separate broker-dealer under combined leadership until regulatory approval is obtained and systems are integrated.

Related Posts

Federal Housing Administration$1,224.5 billionDec. 31

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Federal Housing Administration$1,224.5 billionDec. 31

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Federal Housing Administration$1,224.5 billionDec. 31

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Federal Housing Administration$1,224.5 billionDec. 31

Mortgage Servicing Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story BAC Home Loan...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam