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American Residential Mortgage Corp

BUSINESS

15-Year Sentence Given for Real Estate Fraud

September 11, 1996|DEBORA VRANA, TIMES STAFF WRITER

A Rolling Hills man has been sentenced to 15 years, eight months in federal prison for masterminding a four-year scheme that defrauded at least nine Southern California lenders of millions of dollars. Steven D. Jones, 49, was convicted earlier this year of racketeering, conspiracy, fraud and money laundering charges.

BUSINESS

Imperial's Mortgage Servicing Unit Sold : Banking: La Jolla-based American Residential Mortgage buys the unit of thrift ruined by junk bonds.

April 23, 1991|GREG JOHNSON, TIMES STAFF WRITER

Federal regulators, who are dismantling Imperial Federal Savings Assn., sold the S&L's mortgage servicing division Monday to La Jolla-based American Residential Mortgage Corp. Federal officials were not available for comment, and American Residential officials declined to discuss the purchase price. On Friday, the RTC sold Imperial's 40 Southern California branch offices to Newport Beach-based Household Bank.

REAL ESTATE

Mortgage Firms

August 20, 1989|LINDA MARTINI-POSNER

Steven H. Hammer has been installed as the 1989-90 president of the California Mortgage Bankers Assn. Hammer is president of W. Ross Campbell Co., an income- property mortgage banker established in Los Angeles in 1905. The firm is a correspondent for CIGNA. American Residential Mortgage Corp., formerly ICA Mortgage Corp., has named Tom Wood as senior vice president in charge of business technology. His role will be to improve automation and processing efficiency. Allan L.

BUSINESS

A Savings and Loan's Failure Is a Mortgage Banking Company's Gain

September 29, 1992|CHRIS KRAUL, SAN DIEGO COUNTY BUSINESS EDITOR

From

the ashes of the Imperial Savings failure has risen American Residential Mortgage Corp., Imperial's former mortgage banking subsidiary and now the second-largest publicly owned mortgage banking firm in the United States. The San Diego-based company, which has been independent since 1990, originates loans in 48 branches in 18 states, then sells the loans in bundles to investors, retaining the rights to service the loans for a fee. The company plans to grow quickly in coming years.

BUSINESS

Fleet Financial to Buy Plaza Home Mortgage : Finance: Deal comes as rising interest rates put a crimp in refinancing activity, reducing profits.

September 7, 1994|JAMES S. GRANELLI, TIMES STAFF WRITER

Reflecting a continuing contraction in the mortgage banking industry, Plaza Home Mortgage Corp. said Tuesday that it will be acquired for $120 million in cash by Fleet Financial Group. The acquisition of fast-growing Plaza, based in Santa Ana, would make Fleet the nation's fourth-largest mortgage provider, with $13.4 billion in loans made through July. It would be the nation's second-largest mortgage servicer, billing and collecting payments on $88.2 billion in loans.

REAL ESTATE

Your Mortgage : Tips on What's New in Rate Locks

March 6, 1994|KENNETH R. HARNEY, SPECIAL TO THE TIMES

Any prospective home buyer or seller who's heard about Federal Reserve Chairman Alan Greenspan's late February congressional testimony should carry two words into this spring's market: rate lock. Greenspan didn't use the words himself. But the upshot of his testimony was that interest rates are probably more likely to go up, not down, as the 1994 economic recovery gains steam.


Category: American mortgage

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