Prime Equity expands, makes new hires

Mar 29, 2007

EverBank buys out BNY MortgageMortgagePress.comReverse mortgages EverBank Financial Corporation has purchased The Bank of New York's interest in BNY Mortgage Company LLC (BNYMC), repositioning the company to focus exclusively on expanding its reverse mortgage business nationwide. Originally a joint venture between EverBank Financial Corporation and The Bank of New York, BNYMC will now focus on the origination of retail reverse mortgages, along with wholesale, correspondent and private label reverse mortgage services. Jacksonville, Fla.-based EverBank Financial Corporation is a private financial services holding company. For more information, call (888) 882-3837 or visit www.everbank.com. BNYMC is a mortgage company based in Harrison, N.Y. For more information, call (800) 480-8773 or visit www.bnymortgage.com.

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Mar 29, 2007

Courts

Six Mortgage Brokerages Sued Over Alleged Kickback Scheme

Pennsylvania AG claims up to $1M swapped hands between agents and brokers

A cautionary tale for mortgage brokers arrived this week from Allentown, Pa., after state prosecutor and former Pa. Attorney General, Michelle Henry, filed a lawsuit against six mortgage brokerages that operate in the area, and their manager, Barry Newhart, concerning an all...

Analysis and Data

Existing-Home Sales See Quickest Climb Since Last February

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Despite high prices and mortgage rates, existing-home sales in the last three months of 2024 “showed solid recovery,” according to the National Association of Realtors (NAR). Sales grew by 2.2% in December from the month before to a seasonally adjusted annual rate of 4.2...