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Tag Archives: First Guaranty Mortgage Corporation

FGMC Has Access to MortgageKeeper’s Database Through Partnership

First Guaranty Mortgage Corp. (FGMC) will partner with MortgageKeeper referral services, which will provide FGMC access to a database that links individuals in financial distress to available community services. FGMC customer service representatives will have continuous, web-based access to over 6,000 nonprofit and government services through the partnership.

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NAREB to Combine Efforts with FGMC for New Program

First Guaranty Mortgage Corp. will join forces with the National Association of Real Estate Brokers (NAREB) to participate in the newly introduced, nationwide effort called the Homeowner's Assurance Program (HAP). HAP was created by NAREB, a trade group formed in 1947 by African American real estate professionals, to help re-stabilize urban communities impacted by the housing market crises.

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First Guaranty Mortgage Corporation to Grow Capital Markets Group

First Guaranty Mortgage Corp. (FGMC), signaling that it will become more aggressive in the capital markets channel, has added Mark Mayhook as managing director, capital markets. FGMC is a national mortgage lending firm offering retail, wholesale, and correspondent mortgage solutions to clients of varying income and credit types as well as financial institutions of all kinds.

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First Guaranty Mortgage Corporation Names Andrew Peters CEO

First Guaranty Mortgage Corp. (FGMC) has promoted Andrew Peters to be its new CEO. Peters has been with FGMC for over 10 years, serving most recently as its SVP and national business director. Peters' recent focus has been on REO lending initiatives, including FGMC's ""Rebuild the Dream"" effort, which was designed to facilitate renovation lending in combination with REO sales.

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First Guaranty to Offer Fannie Mae HomePath Renovation Loans

First Guaranty Mortgage Corp. (FGMC) will now offer Fannie Mae HomePath and HomePath renovation products through its wholesale lending and consumer direct lending channels. HomePath is the GSE's venture for marketing and selling REO properties it takes ownership of after the foreclosure process, providing special financing terms for the purchase of select Fannie Mae-owned properties. FGMC is one of only a handful of mortgage lenders in the country to be approved to provide the HomePath product.

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First Guaranty Mortgage Looks to Accelerate Resale of REO Properties

First Guaranty Mortgage Corp. (FGMC) recently partnered with APD Solutions and Home Depot to launch an initiative aimed at accelerating the resale of REO properties and rebuilding the housing stock nationwide. Coined ""Rebuild the Dream,"" the initiative seeks to reduce the time cycle on the sale of bank-owned homes and improve sale prices by providing incentives to homebuyers and real estate selling agents to use rehabilitation loans to increase the value and appeal of REO properties.

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First Guaranty Founder Publishes Book on Housing Meltdown

When Kenneth Clark, founder and chairman of First Guaranty Mortgage Corporation in McLean, Virginia, noticed that books about the housing crisis were not written for people in the ""real world,"" he wrote his own. ""The Story Behind the Mortgage and Housing Meltdown: The Legacy of Greed"" was written for mainstream readers and explores the events that brought about the crisis. Clark says if the average American can understand the reasons it all happened, it will minimize the chances of a recurrence.

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