General Counsel Mike McElroy Joins First Guaranty Mortgage Corporation – NMP Skip to main content

General Counsel Mike McElroy Joins First Guaranty Mortgage Corporation

NationalMortgageProfessional.com
Oct 20, 2016
​First Guaranty Mortgage Corporation (FGMC) has named Mike McElroy as the company’s general counsel

First Guaranty Mortgage Corporation (FGMC) has named Mike McElroy as the company’s general counsel. McElroy comes to FGMC with extensive industry experience, including key roles with national mortgage lending and servicing firms; government-sponsored enterprises (GSEs); and private firms. He has more than 15 years of leadership in the financial services industry and capital markets.

“In Mike, First Guaranty is getting a proven chief legal officer with significant experience in the mortgage industry,” said Andrew Peters, FGMC CEO. “There’s very little he hasn’t seen over the course of his career. Moreover, the breadth of his experience–from team management to capital market transactions, litigation, M&A and more–immediately makes him an invaluable addition to our leadership team. We truly look forward to his contributions to the First Guaranty story.”

Prior to joining FGMC, McElroy served as general counsel, chief compliance officer and secretary to Stonegate Mortgage Corporation from October 2013 until July 2016. McElroy also served as senior vice president and general counsel of Home Loan Servicing Solutions from March 2012 to October 2013. From January 2011 to March 2012, he served as senior vice president and deputy general counsel of Ocwen Financial Corporation, where his duties included directing transactional legal matters. Prior to joining Ocwen, from June 2010 to January 2011, he was an associate general counsel at Fannie Mae, where he was responsible for mortgage-backed security (MBS) offerings, loss mitigation on Fannie Mae’s securities portfolio and structured transactions. Before joining Fannie Mae, from September 1997 to June 2010, he was an associate and then a partner at Orrick, Herrington & Sutcliffe LLP in the Financial Markets Group, where he represented financial institutions in connection with securities offerings, derivatives and regulatory compliance.

McElroy holds a bachelor of arts degree in economics and political science from Kenyon College, a masters in government from the University of Virginia, and a juris doctorate from Georgetown University Law Center.

Published
Oct 20, 2016
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021
Fed To Begin Tapering Asset Purchases by 14.3% This Month

Also sets target range for the federal funds rate at 0 to 1/4%.

Regulation and Compliance
Nov 03, 2021
CFPB Cracks Down On Discriminatory Credit Reporting For Black And Hispanic Consumers

Consumers in majority Black and Hispanic neighborhoods are far more likely to have disputes appear on their credit reports. 

Regulation and Compliance
Nov 03, 2021
CFPB Names 2 New Assistant Directors

Former Obama Administration officials will lead Supervision Policy, Enforcement divisions.

Regulation and Compliance
Oct 29, 2021
FHFA Proposes Extra Disclosure Rules For Fannie, Freddie

The proposed rule for the Enterprise Regulatory Capital Framework seeks to put Enterprises on a "level playing field" with U.S. banking requirements.

Regulation and Compliance
Oct 28, 2021