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Acquisitions May 31, 2008Acquisition Search   Acquisition Search #2

  • Guild Mortgage Company Acquires Liberty Financial Group and Expands Reach to High Credit-Quality Borrowers
Guild Mortgage Company recently completed the acquisition of Liberty Financial Group, a Bellevue, WA residential mortgage bank. Liberty annually originates close to $1 billion of prime home loans through its network of branches located predominately in Washington and Colorado. -- Guild Mortgage Company,Matthew Fine,San Diego California  05/13/2008



  • Origen Financial Announces Agreement to Sell Servicing Platform Assets to Green Tree Servicing LLC
Origen Financial, Inc. (NASDAQ:ORGN) , a real estate investment trust that is in the business of originating and servicing manufactured housing loans, today announced it has entered into an agreement for the sale of its servicing platform assets to Green Tree Servicing LLC ("Green Tree"), a leading servicer of manufactured housing loans, as well as other residential and consumer loans. Upon completion, the transaction will include the transfer of approximately $1.6 billion of manufactured housing loans. Proceeds from the sale would be used to retire a $15 million loan secured by the servicing assets, to partially repay a $46 million secured loan facility entered into in April 2008 and for working capital. As part of the sale transaction, Green Tree will assume the lease for Origen's Fort Worth, Texas servicing facility. -- Origen Financial,W. Anderson Geater,Southfield MI  05/01/2008



  • Merchants & Manufacturers Bancorporation, Inc. Announces Approval of Acquisition by Harris Bankcorp
Merchants & Manufacturers Bancorporation, Inc. (BULLETIN BOARD: MMBI) (`Merchants`), today announced that Harris Bankcorp, Inc. has received all required regulatory and shareholder approvals and expects to close the acquisition of Merchants by Harris Bankcorp, Inc. later this month. Closing of the acquisition is subject to customary closing conditions. -- Merchants & Manufacturers Bancorporation, Inc,Michael J. Murry,New Berlin WI  02/15/2008



  • Global Equity Fund, Inc. Receives Buyout Offer from Private Investment Group
Global Equity Fund (GEF), Inc. (Pink Sheets: GEQF), a real estate development and advisory company, announced today it has received a proposal from a private investor group for a potential buyout. The buyout includes the purchase of all Regulation S shares for a cash purchase price. -- Global Equity Fund, Inc.,Jeffrey Rosenberg,Vancouver British Columbia  01/03/2008



  • Wolters Kluwer Financial Services Acquires the Assets of Stewart Lender Services` Flood Determination Business
Wolters Kluwer Financial Services announced today that the company has signed an agreement to acquire substantially all of the assets of Stewart Lender Services` (Stewart`s) flood determination business. -- Wolters Kluwer Financial Services,Jennifer Marso,Minneapolis MN  12/31/2007



  • Senior Financial, Inc. Closes Liberty Reverse Mortgage, Inc. Acquisition
Senior Financial, Inc., a wholly owned venture investment subsidiary of Genworth Financial, Inc. (NYSE:GNW) announced today that it has completed its previously announced acquisition of Liberty Reverse Mortgage, Inc., headquartered in Rancho Cordova, California. Liberty is an independent reverse mortgage lender. -- Genworth Financial, Inc.,Tom Topinka,Richmond VA  11/05/2007



  • BB&T completes acquisition of Collateral Real Estate Capital
Laureate Capital-Collateral renamed as Grandbridge Real Estate Capital LLC -- BB&T Corporation,Thomas S. Dennard,Winston-salem NC  11/05/2007



  • Former Market Street Mortgage Employees Move Swiftly to Save Jobs and Continue Texas Operations as Flagstone Lending Group
In spite of the FDIC`s recent takeover of Market Street Mortgage Corporation, a subsidiary of NetBank (FSB), and its pending closure, Mark Cady, a Regional Vice President, has moved expeditiously to ensure continued mortgage origination in the state of Texas. Cady, along with several other company team members, has entered into a divisional joint venture arrangement with Salt Lake City-based Primary Residential Mortgage, Inc. (PRMI). -- Flagstone Lending Group,Sylvia Schiller,Houston TX  10/15/2007



  • One of the Nation`s Largest Insurance Providers Teams With 3t Systems and Mortgage Cadence to Establish Nationwide Mortgage Banking Operations
Insurance Provider to Leverage Insured Customer Base of Millions to Penetrate Competitive Mortgage Marketplace -- 3t Systems, Inc,Trevor Gauthier,Denver CO  10/15/2007



  • Leads360 Raises $3.25 Million in Series A
Lead Management Provider Enhances Online Customer Acquisition Process -- Leads360,Bridget DiRico,Los Angeles CA  10/11/2007



  • AllRegs Acquires Lender E-Source
AllRegs, the leading information provider for the mortgage lending industry, announces the acquisition of Lender E-Source, a web-based purveyor of mortgage lending product and underwriting guidelines. This acquisition vastly increases the AllRegs product suite as well as the organization`s library of content and investor product guidelines. -- AllRegs,Dan Thoms,Eagan MN  10/04/2007



  • EverBank Acquires $700 Million of NetBank Mortgage Assets
EverBank(R), one of the nation`s largest privately-held financial services firms, announced today that it has successfully acquired approximately $700 million of NetBank mortgage assets. This transaction will bring EverBank`s total assets to over $5.3 billion. -- EverBank,Peter Robbio,Jacksonville FL  10/01/2007



  • Sallie Mae Knows Her Merger Is Toast (SLM, JPM, BAC)
Sallie Mae, has announced that it has been informed by a representative of the buyer group led by J. C. Flowers, Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) that the buyer group does not expect to consummate the acquisition of Sallie Mae under the terms of the merger agreement -- 24/7 Wall St.,,   09/28/2007



  • Carlile Investments Announces Purchase of Residential Mortgage Bank All Fund Mortgage
Carlile Investments today announced the completion of the purchase of All Fund Mortgage, a privately held mortgage banking company headquartered in Tacoma, Washington. The transaction was finalized on September 12, 2007. Terms of the transaction were not disclosed. Carlile Investments is a major stakeholder in Royal Capital Group (http://www.rcglending.com/), who will also provide marketing and management. All Fund Mortgage will be held as a sister company to Royal Capital Group. -- Royal Capital Group,Taylor Greer,Sacramento CA  09/18/2007



  • E-Trade Financial to restructure mortgage operations, trading on credit worries
E-Trade Financial Corp. said Monday a tightening in global credit markets will force the discount brokerage to exit businesses that do not deal directly with retail investors, a move that will significantly cut into profit this year. -- The Herald Tribune,,New York NY  09/17/2007



  • EverBank Announces Termination of NetBank Acquisition Agreement
EverBank (R) Financial Corp announced today that it has terminated its agreement to acquire NetBank`s consumer deposit accounts, business finance division and other assets under the transaction announced on May 21, 2007. This decision comes after it became clear that NetBank would not be able to complete certain conditions required to close and receive regulatory approval. -- EverBank Financial Corp,Peter Robbio,Jacksonville FL  09/17/2007



  • Fidelity National Information Services, Inc. Completes Acquisition of EFD/eFunds Corporation
Fidelity National Information Services, Inc. (NYSE:FIS) announced that it has completed the acquisition of EFD/eFunds Corporation. Under the terms of the merger agreement, FIS acquired all of the outstanding shares of EFD common stock for approximately $1.8 billion in cash, or $36.50 per share. -- Fidelity National Information Servi,Mary K. Waggoner,Jacksonville FL  09/13/2007



  • Shareholder Class Action Filed Against Radian Group Inc. by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all purchasers of securities of Radian Group Inc. (NYSE:RDN) ("Radian" or the "Company") from January 23, 2007 through July 31, 2007, inclusive (the "Class Period"). -- Schiffrin Barroway Topaz & Kessler,,Schiffrin Barroway Topaz & Kessler,,Radnor PA  09/12/2007



  • Hagens Berman Sobol Shapiro: Countrywide Financial Faces Class Action Citing ERISA Violations
Company employees feeling effects of poor portfolio management and misleading financial reports. -- Hagens Berman Sobol Shapiro,Steve Berman,Santa Ana CA  09/12/2007



  • Union Bankshares Corporation Completes Acquisition of Six Branches from Provident
Union Bankshares Corporation (NASDAQ:UBSH) and Provident Bankshares Corporation (NASDAQ:PBKS) , the parent company of Provident Bank, today announced the completion of the acquisition of the deposits and facilities of six Provident Bank branches in Virginia by Union Bankshares Corporation. -- Union Bankshares Corporation,D. Anthony Peay,Bowling Green VA  09/12/2007



  • Quality Home Loans Sells 100% Stake to Hedge Fund Manager, Entrepreneur Michael Klein
Quality Home Loans (Quality), the country`s leading residential hard money lender, announced that it has agreed to be acquired by hedge fund manager and entrepreneur, Michael Klein. Specific terms of the deal were not disclosed. -- Quality Home Loans,Ceal Potts,Agoura Hills CA  09/05/2007



  • The First American Corporation Announces Cost Reduction Initiatives To Present at the Keefe, Bruyette & Woods Insurance Conference
The First American Corporation (NYSE:FAF) , America`s largest provider of business information, today announced that the company expects to reduce personnel by approximately 1,300 full-time equivalents ("FTEs") in the third quarter of 2007. -- First American Corporation,Carrie Gaska,Santa Ana CA  09/04/2007



  • NovaStar Financial, Inc. Cancels Shareholder Rights Offering
Company further curtails lending and focuses on managing current portfolio -- NovaStar Financial, Inc.,Richard M. Johnson,Kansas City MO  09/04/2007



  • National City to Merge National Home Equity into National City Mortgage Company
In a move to streamline its mortgage operations, National City Corporation today announced that it is integrating its National Home Equity business unit into National City Mortgage Company -- National City Corporation,Jill Hennessey,Cleveland OH  08/24/2007



  • Capital One Closes Wholesale Mortgage Unit
Revises 2007 EPS guidance down by $2.15 per share; expects 2007 EPS of approximately $5.00 per share -- MCLEAN, Va,Capital One Financial Corporation,Jeff Norris   08/24/2007



  • Bank of America Makes Investment in Countrywide Financial
Buys convertible preferred stock for $2 billion -- Bank of America,Kevin Stitt,Charlotte NC  08/24/2007