A federal jury has awarded shareholders of Fannie Mae and Freddie Mac $612.4 million in damages after ruling that the Federal Housing Finance Agency acted “arbitrarily or unreasonably” in carrying out the “net worth sweep” that pushed the government-sponsored enterprises’ full profits to the U.S. Department of the Treasury in 2012.
BankFirst Financial Services announced the opening of a new loan production office at 307 Clinton Avenue E., Ste. 115, in Huntsville, Alabama. The bank now has 48 offices serving Mississippi and Alabama.
Bee Mortgage announced its grand opening in Kosciusko County, Indiana. The first Bee Mortgage office will open in downtown Warsaw at 207 S. Buffalo St.
Near North Title Group is continuing expansion efforts by acquiring the Florida retail operations of Doma. It’s the second acquisition of former Doma assets by Near North, as the Chicago-based company also bought Doma’s Midwest locations in July. Together, the two purchases add 130 employees and 39 offices to Near North’s operation. Doma, meanwhile, has been divesting assets in recent months, selling its California local retail title operations to Williston Financial Group in May and its Texas operations centers to Capital Title of Texas in July.
Motto Mortgage opened a new office in Harrison City, Pennsylvania, serving all markets throughout the Keystone State. The new office, dubbed Motto Mortgage Miracles, was established by Brent Zollner, who brings 10-plus years of industry experience to the brokerage, previously holding roles at Movement Mortgage, PNC, Patriot Lending Services and Lending Heights.