First Guaranty Mortgage Corporation

A Delaware bankruptcy court judge certified the class, which includes 425 former employees.

GSE says defunct mortgage lender trying to sell servicer/seller license that doesn't exist.

Financing package will allow FGMC to continue to fund loans in its pipeline.

Company said it would stop purchasing new loans in the wake of its mass layoff last week; seeking court-approved financing.

FGMC notified laid-off 471 employees late Tuesday night that it would pay severance.

Late-night email tells laid-off workers they'll receive one week of pay for each year of service.