The financial details of the transaction were not disclosed, but Rushmore will assume substantially all of the assets and personnel related to the channel. The sale is expected to be completed in the third quarter.
This marks the latest effort by FirstBank to jettison its mortgage operations. On June 7, the bank completed the sale of its third-party origination channel to Renasant Bank.
“We are pleased to have found new homes for each of our third-party origination channels in the second quarter,” said FB Financial’s President and CEO Chris Holmes. “These sales allow us to focus more on our customer centered retail and consumer direct channels.”
At least a dozen civil lawsuits have been filed against the company, all seeking class-action status.
Florida-based Lakeview Loan Servicing LLC, the fourth largest loan-servicing company in the nation, is facing at least two proposed class action lawsuits as a result of a late-2021 data breach that reportedly affected more than 2.5 million consumers.
At least a dozen civil...
Pending home sales dipped for the sixth consecutive month, according to a report released Thursday by the National Association of Realtors.
The pending homes sales index for April showed that sales were down 3.9% from March, and when compared to the prior year, pending sale...
The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.
CoreVest American Finance LLC is expanding its business purpose loan correspondent channel, following the pricing of its inaugural securitization of bridge loans on transitional housing assets.