Items Tagged with 'First Mortgage Corporation'

ARTICLES

  • Calyx appoints new national sales consultant

    Robert Shumake has nearly 20 years of sales experience in the fintech industry
    Calyx recently appointed Robert Shumake as its new national sales consultant. As such, Shumake will be responsible for developing sales strategies for the company’s cloud-based digital loan origination system, Calyx Path. Calyx Director of Marketing Patrice Power said Shumake's extensive experience in the mortgage and technology space means he truly understands customer challenges and how to best address them.
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  • Did whistleblower out First Mortgage's $7.5 million Ginnie Mae mortgage bond fraud?

    The SEC wants to know, offers potential reward
    The Securities and Exchange Commission is offering a reward to the whistleblower that revealed a scheme at First Mortgage Corporation that involved several of the company’s senior executives lying about the performance of the mortgages the company originated, re-securitizing them, and defrauding investors out of $7.5 million – if in fact there is one.
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  • SEC fines First Mortgage $12.7M, bans 6 execs for defrauding Ginnie Mae investors

    Claimed performing mortgages were delinquent, resold them into new pools
    Several senior executives at First Mortgage Corporation lied about the performance of the mortgages the company originated so they could pull the mortgages out of mortgage-backed securities guaranteed by Ginnie Mae, then turn right back around and sell the mortgages back into new mortgage bonds, defrauding investors out of $7.5 million, the Securities and Exchange Commission said Tuesday.
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