Forward look: Home BancShares CEO John Allison said Mountain Commerce Bank will serve as a platform for future Tennessee expansion. Supporting data: Allison ranked Tennessee as one of the most attractive markets in the country along with Texas and Florida, where Home already has a presence. Expert quote: “Given the current regulatory environment, we would […]
Home ends dry spell with $150M deal for Tennessee bank Read More »
Absolute Home Mortgage has acquired assets from Fidelity Direct Mortgage in a partnership announced Tuesday. Absolute, a nationwide mortgage lender based in New Jersey, added Fidelity’s team of 55 producing loan officers to its team of roughly 190, a Fidelity spokesperson told National Mortgage News. “This is an important step forward for both of our
Absolute Home Mortgage acquires Northeast lender’s team Read More »
Forward look: The combined company will start with more than $28 billion of deposits, including $1.8 billion in Northern New Jersey. Supporting data: Blue Foundry Bancorp has reported more than $20 million of losses since its conversion to a stock-traded company in 2021. Expert quote: “Blue Foundry was horrible. They couldn’t make any money,” said
Fulton to acquire money-losing New Jersey bank for $243M Read More »
Left to righ: Bryce Bradley, Rosegate Mortgage; Craig Freel, Rice Park Capital Management Private investment firm Rice Park Capital Management will acquire a retail and consumer-direct lender one year after the two businesses signed an initial partnership agreement. As in several recent mergers, the servicing pipeline potential figured prominently behind the Minneapolis-based financial firm’s decision
Rice Park acquires Rosegate Mortgage in recapture push Read More »
In a year marked by consolidation, the mortgage industry saw another two merger agreements over the past week, both leading to unions between Mid Atlantic lenders. On Monday, Northern Virginia-based Atlantic Coast Mortgage reported it had reached a deal to acquire a fellow in-state retail lender. Located in Fairfax and currently licensed in 40 states,
Mortgage M&A streak continues with new deals Read More »
New insurance written at the nation’s six active private mortgage insurers continued to run ahead of last year’s pace during the third quarter, with the market share gap widening between the top and bottom. For the quarter, the MIs wrote $84.3 billion of new policies, compared with $81.2 billion three months prior and $82.5 billion
Mortgage insurers have strong 3Q for new policies written Read More »
A big year for mergers and acquisitions in the mortgage space has even profitable companies weighing moves as buyers are ponying up premiums. Stratmor Group Senior Partner Garth Graham said the strategic advisory firm is in the process of transactions with profitable companies who in past cycles would’ve stood pat, but are now mulling whether
Why even profitable lenders are thinking about selling Read More »
While the publicly traded title underwriters across the board reported improved third quarter results on a year-over-year comparison, helped by September’s refinance activity that several mortgage lenders referred to in their results. The biggest news from the sector came after the quarter ended, with three of the companies announcing merger and acquisition deals. Fidelity
Refis drive better 3Q for major title insurers Read More »
Guild Mortgage reported higher profits and loan volume in the third quarter, likely marking its final earnings release as a public company before its merger with Bayview Asset Management. The company reported net income of $33.3 million in the third quarter, up significantly from a loss of $66.9 million during the same period a year
Guild’s profits and originations jump ahead of privatization Read More »
The mortgage industry is seeing another merger-and-acquisition deal, with Carrington Holding Co. adding a new channel to its mix through its purchase of a suburban New York-based residential lender. The owner of several businesses providing services to the real estate and mortgage industries, Carrington announced an agreement to acquire Reliance First Capital from its parent
Carrington inks deal to acquire Reliance First Capital Read More »