First Guaranty Mortgage Corporation (FGMC) has added a division in its Third-Party Originator (TPO) group which will focus on USDA Rural Housing Program loans, as well as manufactured housing loans under the FHA, VA and conventional loan programs. The TPO group already includes the wholesale, correspondent and bulk lending divisions. FGMC is a national, full-service mortgage lending firm offering retail, correspondent and wholesale mortgage solutions to clients of varying income and credit types.
FGMC is a GNMA and FNMA direct issuer and has long been known for its work in FHA and VA manufactured housing loans. The lender will now offer manufactured housing loans for FNMA as well as the full suite of USDA products in this new division.
In addition to opening a new division, FGMC has also opened a fulfillment center Boca Raton, Florida. The region has long been recognized as the operational hotbed for USDA operations and expertise. FGMC has added a number of employees with USDA experience as underwriters and senior processors in the new center.
“Boca Raton is home to the best and brightest of those specializing in USDA loans,” said FGMC CEO Andrew Peters. “These programs require experts in the field and FGMC is proud of the extensive and growing resources we have available in that regard.”
Peters further mentioned that FGMC intends to continue its steady growth across product channels.
“We are aggressively looking for relationships with mortgage brokers as well as flow sellers and bulk sellers,” said Peters. “Flow or bulk MSR transactions are also being considered for the right counter parties.”