Harbourton Capital Group Inc., McLean, Va., has announced an agreement to acquire Molton Allen & Williams Mortgage Co., a privately held mortgage banker based in Fairfax, Va.The terms of the deal were not disclosed. Harbourton said that after it acquires all the membership interests in MAW, it plans to merge it into a wholly owned subsidiary, Harbourton Mortgage Investment Corp. "The ability of the combined companies to offer a full range of mortgage programs covering the entire credit spectrum, including conforming and nonconforming loan products, through branch origination and operations facilities in California, Virginia, and Alabama will provide significant new opportunities for growth," said J. Kenneth McLendon, president and chief executive officer of Harbourton Capital. Harbourton Mortgage Investment Corp. and MAW can be found on the Web at http://www.hmic.com and http://www.mawmortgage.com.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18