Two mortgage fraud prevention firms are merging while a Louisiana-based bank has acquired two mortgage lenders.
But first, RBC Centura announced it named Drew Putt as president of RBC Centura Bank. Among the duties Putt will assume under her new position is responsibility for the bank’s mortgage business.
EMC Mortgage Corp. appointed John Vella to the roles of president and chief operating officer. Vella most recently worked for Aames Investment Corp., and his resume includes stints at Option One Mortgage Corp., Household International, GMAC/RFC and Freddie Mac.
Meanwhile, First American Real Estate Solutions announced it merged with risk assessment and fraud prevention solutions provider CoreLogic Systems Inc., making for the largest transaction in a series of analytic company acquisitions and minority investments it has completed in recent years.
While risk associated with mortgage lending was traditionally managed through labor-intensive quality control and due diligence reviews, “the combined company makes this process more efficient and effective by applying advanced data and analytics at every point in the lending process,” allowing “clients to identify, quantify and manage risk in a more transparent and precise way than previously possible,” FirstAm said.
Prosperity Bancshares Inc. announced that its completed purchase of Texas United Bancshares Inc. on Wednesday makes it the largest Houston-based bank and the third largest Texas-based bank.
IBERIABANK Corp. reportedly finished last week with two new acquisitions: Pulaski Investment Corp. and Pocahontas Bancorp Inc., both Arkansas-based companies, according to announcements.
With the purchase of Pulaski, “our annual mortgage production level climbs to nearly $1 billion with mortgage banking operations throughout Arkansas, Memphis, St. Louis, Dallas, and other vibrant markets,” IBERIABANK said, adding that it anticipates completion of operating systems and branch conversions of the two banks over the next three months.
Pocahontas’ First Community Bank will reportedly merge with and operate under the name of Pulaski Bank and Trust Co. and together will become a single subsidiary of IBERIABANK.
