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Pontiac-based United Wholesale Mortgage, now the nation's top mortgage lender, this week found itself in the crosshairs of a new activist hedge fund — on a mission to tank the company's stock ...
More: Pontiac’s United Wholesale Mortgage targeted in lawsuit, exposé alleging fraud More: Billionaire Mat Ishbia razing 5 Bloomfield Twp. homes to build mansion, 'amusement park'
United Wholesale Mortgage was founded by Jeff Ishbia in 1986 while working as an attorney. He founded the company as a side business under the name Shore Mortgage. [3] It started off focusing on conventional and FHA loans and the name was later changed from Shore Mortgage to United Wholesale Mortgage. [4] By 2003, the company had 13 employees.
Instead, the program will allow buyers to pay for 97% of the home’s value with a first mortgage and then provide the remaining 3% (up to $15,000) in the form of a second mortgage.
On August 3, 2009, SIGTARP special agents raided the company's headquarters in Ocala, Florida, in connection with an investigation related to the company's acquisition of a majority stake in Colonial BancGroup, once one of the 25 biggest depository banks in the U.S. [3] Taylor, Bean & Whitaker had signed a deal on March 31, 2009, to become the majority owner of Colonial BancGroup in a $300 ...
Dr. Ron Paul, U.S. Congressman, Texas District 14, former candidate for Republican nomination for U.S. President; Chuck Baldwin, 2008 presidential candidate for the Constitution Party
New Jersey's top loan officer based on volume and his former assistant have been charged for their involvement in a mortgage fraud scheme, the U.S. Department of Justice said. Christopher Gallo ...
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