Items Tagged with 'Warehouse lending'

ARTICLES

  • Senior execs at Vanguard Funding sent to jail for embezzling $8.9 million

    CFO and COO previously admitted to using warehouse loans for personal expenses
    The former chief operating officer and chief financial officer of New York-based lender Vanguard Funding will spend between 18 and 24 months in prison after admitting to embezzling more than $8.9 million from warehouse lines of credit that were meant to fund mortgages.
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  • Wells Fargo Securities promotes Ari Kavour, Mike Llodra to lead mortgage finance group

    Will head up warehouse and term financing efforts
    Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo, announced Thursday that it promoted Ari Kavour and Mike Llodra to co-heads of the mortgage finance group. Wells Fargo Securities’ mortgage finance group provides warehouse and term financing to companies and investors that own, originate or invest in residential real estate mortgages or securities.
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  • Former bank vice president accused of defrauding warehouse lenders out of $12 million

    John Reimer charged with crisis-era fraud
    The former vice president and comptroller of a New York bank is facing charges that he took part in a scheme that defrauded warehouse lenders out of $12 million during the financial crisis. The indictment states that John Reimer allegedly “double-pledged” certain properties, meaning that he obtained multiple warehouse advances from more than one warehouse lender under false pretenses.
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  • Senior execs at Vanguard Funding accused of embezzling $8.9 million

    Three execs charged with using warehouse loans for personal expenses
    Three senior executives at a New York mortgage lender were arrested Tuesday morning and charged with misappropriating $9 million from warehouse lines of credit meant to be used to fund mortgages. The three men, who are senior executives at Vanguard Funding, stand charged with conspiracy to commit wire and bank fraud for allegedly misusing the warehouse funds to pay for personal expenses and compensation.
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  • Stonegate just grew warehouse lending by 888%

    No, that’s not a typo
    Stonegate Mortgage Corporation reported an incredible 888% year-over-year increase in its warehouse lending in the fourth quarter, rising from $47.8 million in 2013 to $472.4 million in 2014. But it still wasn't enough to help Stonegate turn a profit in 2014.
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  • JMAC launches non-delegated correspondent lending channel

    Investor will underwrite before closing
    According to a statement provided by the company, the non-delegated correspondent lending channel is focused on serving lenders who currently have the resources to fund their own loans but prefer the security of having those loans underwritten by the purchasing investor before the loan closes.
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  • From HW Magazine

    Air Supply

    Five trends impacting mortgage liquidity
    Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count.
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  • Impac Mortgage Holdings re-enters the warehouse lending business

    The sea change continues with firms moving into warehouse, correspondent lending
    Lender Impac Mortgage Holdings is the latest firm to shake up its lending operations by announcing plans to re-enter the residential warehouse lending business through a new division, Impac Warehouse Lending.
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