FHM Mortgage Group LLC, a mortgage broker based in Parsippany, N.J., has announced that it is joining forces with collection agencies to help overextended homeowners resolve their past-due debts. FHM president Nick Mastrandrea said he established the company with the goal of serving as an ally of the collections industry. "To make that partnership a reality, we've built a state-of-the-art call center with experienced loan officers prepared to accept inbound calls from collection staff and their customers," he said. The company can be found on the Web at http://www.fhmmortgagegroup.com.
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The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.
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The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.
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Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.
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The ex-CEO got a regulatory OK to officially rally shareholders for his plan, although he's still awaiting a federal judge's decision on a restraining order.
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The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.
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Academy Mortgage's deal will cover around 285,000 class members. It's the sixth deal this year by a mortgage firm seeking to squash consumer complaints.
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