MortgageBrokers.com Inc., Toronto, has announced the signing of a letter of intent to acquire a privately held, New Jersey-based mortgage broker and banker.The terms of the proposed transaction were not disclosed. The unnamed company holds licenses in seven states, MortgageBrokers.com said. "This proposed acquisition will provide MortgageBrokers.com with a crucial point of entry in the lucrative $3.8 trillion U.S. mortgage market," said Alex Haditaghi, the company's chief executive officer. "With an established footprint on the East Coast, this acquisition, once completed, could potentially bring $400 million in mortgage origination volume and $6.2 million in gross revenues to MortgageBrokers.com." The company can be found on the Web at http://www.mortgagebrokers.com.
-
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
10m ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
34m ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
1h ago -
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
9h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27