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National Mortgage Professional

Apr 01, 2007

1st Reverse Financial Services launches fixed HECMsMortgagePress.comReverse mortgages 1st Reverse Financial Services LLC has launched the Fixed4Life Fixed Rate Reverse Mortgage Loan, which features a fixed interest rate for the life of the reverse mortgage, while providing available proceeds comparable to adjustable-rate reverse mortgages. The Fixed4Life Fixed Rate Reverse Mortgage is a Home Equity Conversion Mortgage (HECM), which is fully insured under the Federal Housing Administration. Westmont, Ill.-based 1st Reverse Financial Services LLC is a subsidiary of Family Federal Savings of Illinois, a federally chartered thrift. For more information, call (877) 574-1000 or visit www.1streverse.com.

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Apr 01, 2007

Operations

Founder Fights loanDepot Board Over Adding WFG CEO

Anthony Hsieh intends to use his voting power to add Steve Ozonian as a director over board's objections.

Anthony Hsieh is out as executive chairman of loanDepot Inc. following a proxy fight over his bid to add the CEO of Williston Financial Group (WFG) to his company’s board of directors. Hsieh, who founded loanDepot in 2010 and is the company’s largest shareholder, sent a let...

Operations

Guild Mortgage Acquires Legacy Mortgage

San Diego-based lender continues to expand, adding New Mexico company.

Guild Mortgage continued its efforts to grow through acquisitions on Tuesday, announcing it has acquired Legacy Mortgage, an independent lender based in New Mexico. Terms of the transaction were not disclosed. Legacy Mortgage was founded in Albuquerque, N.M. in 2002, and w...