Former Guardian Mortgage Services executive Mary Kladde has gone out on her own to form Titan Lenders Corp., a closing, post-closing, and mortgage fulfillment services provider based in Denver.Titan services will act as a variable-cost alternative for mortgage bankers, brokers, and investors to increase their loan-closing capacity while reducing risk, errors, and overhead costs, the company said. Titan offers an established service model, extensive industry experience, and customized solutions automated by Cerberyx, a contemporary Web-based technology platform designed specifically for its processes, according to the company. Built upon the eSys Technologies platform for managing cost and increasing productivity for next-generation lenders, Titan's Cerberyx application is a Web-based information management tool providing a window into a lender's entire pipeline from application through sale of the loan.
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The Arkansas-based company spent nearly four years on the M&A sidelines, grappling with asset quality issues and litigation tied to its 2022 acquisition of Texas-based Happy State Bank. Now it's signed a letter of intent to buy an unnamed bank.
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The company cited efforts to improve profitability behind its decision, with Popular joining a line of other banks in ending mortgage operations in 2025.
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The mortgage unit of Hilltop Holdings lost $7.2 million pretax in the third quarter with lower volume, following making a small profit three months prior.
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FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.
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The Federal Reserve Friday issued a set of proposed changes to its stress testing program for the largest banks that would disclose the central bank's back-end stress testing models, a move that the Fed had long opposed out of fear of making the tests easier for banks to pass.
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Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
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