Tag Archives: Company News

Three of the largest U.S. financial institutions are teaming up to fund a major home giveaway for injured veterans, in collaboration with the Military Warriors Support Foundation (MWSF) JP Morgan Chase, Wells Fargo, and Bank of America are making donations to provide seven mortgage-free homes to American soldiers hurt in the line of duty in Iraq and Afghanistan. The banks are partnering with other industry entities to create the housing gift, which part of MWSF's Homes4WoundedHeroes program.

Fidelity Bank has hired a new leader for its mortgage division with the addition of John M. Pruitt. Charged with full management of the financial institutions mortgage services, Pruitt will join the bank's Atlanta headquarters. Boasting more than 26 years of retail mortgage experience, Pruitt has been in previous executive positions with various companies in the mortgage industry.

Nicholas G. Hahn is joining Captiol Bancorp Limited as its new interim chief financial officer. In his new role, Hahn will be charged with overseeing all finance and accounting operations for the lender.

Standard & Poor's is enhancing its index offerings, and S&P's new additions are aimed at evaluating the performance of specific sub-industries within the Global Industry Classification Standard (GICS). The five new indices from S&P include the Banks Select Industry Index, Capital Markets Select Industry Index, Insurance Select Industry Index, Mortgage Finance Select Industry Index, and the Regional Banks Select Industry Index. Additionally, the Software & Services Select Industry Index will launch in late September.

Wingspan Portfolio Advisors is expanding into insurance, with the recent launch of its new subsidiary, Wingspan Insurance Services, which targets minimization of portfolio risks for servicers and investors.

Realtors and financial professionals are gaining a high-end concierge through Guaranteed Home Mortgage Company Inc.'s initiation of a new, customized service that seeks to give participants an edge.

Charter Financial Corporation is growing, via its acquisition of The First National Bank of Florida. Conducting the deal through its wholly owned subsidiary, CharterBank, Charter structured an agreement with the Federal Deposit Insurance Corporation to assume all deposits as well as the majority of assets of the Milton, Florida-based bank. The First National Bank of Florida was officially declared closed by the Office of the Comptroller of the Currency, and the FDIC was named as its receiver.

Churchill Mortgage Corp. is promoting from within, naming Doug Walker as its vice president of sales support. Walker has been employed with Churchill for more than a decade, and his new role will encompass lender support for home loan specialists in all branches of the financial institution.

Technology provided a big boost for Bank of Idaho giving the company an estimated 67 percent increase in loan officer productivity. Utilizing Mortgagebot to integrate point-of-sale transactions, Bank of Idaho has shortened its average closing time for mortgage loans by 22 percent.

On of the country├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós largest independent mortgage companies, Mortgage Master, Inc., has opened its first office in Manhattan. MMI cites the city├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós relatively resilient housing market as the catalyst behind its recent expansion in New York. The Manhattan branch will serve the Tri-State area, which includes Connecticut, New Jersey, and New York, and Massachusetts-based MMI holds licenses in all three states.