Tag Archives: Company News

John L. MacFarland is joining Stewart National Title Services as a national business development representative. In his new role, he will work to bring in new commercial business with particular focus on initiating business in the Midwest.

Grand Bank, N.A., has announced that it will be selling its ICON Residential Lenders unit to Rushmore Loan Management Services, according to a recent release. The sale is still subject to regulatory approvals and is expected to close in the fourth quarter of 2012 or the first quarter of 2013.

Donald McGuire will be pulling double duty at NewOak as COO and head of investment banking, the company announced. McGuire comes to NewOak with more than 27 years of experience in finance and operations, having worked in the major investment banking, pharmaceutical, and technological industries.

Nichole Guthneck will help to lead Guaranteed Home Mortgage Company as its newly-appointed division leader, the company announced. In her role at Guaranteed, Guthneck is responsible for training, hiring, oversight, marketing, and policy for Guaranteed Direct, the firm's web-based residential mortgage platform.

Tree.com, Inc., and LendingTree, LLC, are welcoming a new senior leader to their ranks. The entities recently announced that Nikul Patel has been appointed as senior vice president of products.

Ocwen will buy the Dallas-based servicer and originator from private equity firm WL Ross & Co. The breakdown for the transaction includes $588 million in cash and $162 million in Ocwen convertible preferred stock. Atlanta-based Ocwen won't need to raise additional equity capital to complete the transaction.

Radian Guaranty, Inc., a private mortgage insurer and subsidiary of the Radian Group, announced it will reward current insured borrowers through the Responsible Homeowner Reward program, which is administered by Loan Value Group LLC, a company founded in 2008 to provide borrower incentives to protect investors and servicers.

Missouri-based Mortgage Returns is celebrating a strong 2012 thus far, recently revealing that the company's revenue has grown significantly since January. The database management and automated marketing services provider has reported a 50 percent uptick in revenue since the start of the year.

One of the nation's oldest privately-owned financial services companies announced its acquisition of Florida-based residential mortgage lender FBC Mortgage, LLC. Sterne Agee Group, Inc., founded in Alabama in 1901, signed a definitive agreement to acquire FBC, a retail and wholesale loan originator.

Responding to Moody's Investors Service Inc.'s decision to extend the review period for potential downgrades for portions of the company's debt, Genworth Financial, Inc., has issued an official statement on the pending evaluations. Noting that Genworth is proceeding with urgency in its dealings with Moody's, the company expressed confidence in the outcome of the review process.