Tag Archives: Company News

New York-based GFI Mortgage Bankers Inc. reached a $3.5 million settlement with the Justice Department regarding discriminatory lending practices Tuesday. The lawsuit, filed in a Manhattan federal court, alleged GFI priced ├â┬ó├óÔÇÜ┬¼├àÔÇ£residential mortgage loans for qualified African-American and Hispanic borrowers higher than for similarly qualified non-Hispanic white borrowers between 2005 and 2009. GFI admitted there were ├â┬ó├óÔÇÜ┬¼├àÔÇ£significant disparities├â┬ó├óÔÇÜ┬¼├é┬Ø between loans offered to minority borrowers.

Fairway Independent Mortgage Corporation is expanding its footprint, recently announcing the opening of a new office in the Southeast. The lender's latest location will be based in Pooler, Georgia, and Fairway's nationwide presence now encompasses 129 branches around the country.

Online portal Loans.net has revealed data that indicates a significant uptick in loan applications and approvals during August. Attributing the rise to economic improvements and decreasing unemployment rates in the U.S., Loans.net reported a 30 percent elevation in website traffic in the second and third weeks of the month.

Bank of America announced Friday that it's donating up to 1,000 properties for injured military veterans and first responders.

FICO and Savvis are teaming up to provide a new could-based technology service for lenders. The companies have joined forces to launch FICO Debt Manager, a platform that will give users game-changing adaptive control capabilities for collection and recovery processes related to mortgages, secured and unsecured loans, and many different types of accounts.

Massachusetts-based radius financial group inc. has been honored with a national accolade. Inc. Magazine named the mortgage bank among the country's fastest growing companies for the fourth consecutive year, ranking radius at 1,222 on the publication's annual roster of 5,000 thriving organizations to watch.

Expanding its wholesale unit, First Guaranty Mortgage Corp. (FGMC) has appointed a new national wholesale sales manager. The company recently announced that Industry veteran Patricia Trimble has been hired to fill the leadership position.

Ellie Mae has released the results from its commissioned study on community banks, and the findings reveal that smaller financial institutions fear the effect that new housing finance regulations could have on their mortgage businesses. The survey, which was conducted by T. Aloise & Company, showed that 51 percent of community bank executives listed changing compliance standards as their most significant challenge.

Trulia announced Friday that it filed an initial public offering, with major banks and financial institutions lining up behind the move. The real estate website opened up shares of common stock by filing registration papers with the Securities and Exchange Commission.

Integra Group Real Estate found a reason or two to celebrate recently. According to a release, the firm posted a 28 percent increase in REO property transaction volume over the first half of this year.