First Federal of the South, Sylacauga, Ala., has announced the acquisition of Walton Mortgage Inc., Chelsea, Ala., for $100,000 in cash.The thrift institution said the mortgage company's chief executive officer, Dot Walton, and its president, Alana Beaugez, will remain with the company, which has become a division of the thrift's wholly owned subsidiary, SouthFirst Mortgage Inc. It will continue to operate under the name Walton Mortgage. Joe K. McArthur, president and CEO of First Federal, said the acquisition will complement the mortgage banking activities of SouthFirst, located in Birmingham, by adding mortgage origination offices in Huntsville, Montgomery, Cullman, and Alexander City.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
10h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25