Wednesday, November 09, 2011

First Guaranty Mortgage Grows Capital Markets Group

First Guaranty Mortgage Corp. (“FGMC”), McLean, Vir., signaling that it will become more aggressive in the capital markets channel, has added Mark Mayhook as Managing Director, Capital Markets. FGMC is a national, full-service mortgage lending firm offering retail, wholesale and correspondent mortgage solutions to clients of varying income and credit types as well as financial institutions of all kinds.

In his new position, Mayhook will oversee all elements of FGMC’s Capital Markets group, with an emphasis on growth. A Ginnie Mae-approved seller/servicer, FGMC’s Capital Markets group seeks to efficiently purchase and securitize client loans. The lender purchases seasoned and new origination bulk whole loan portfolios, and offers flow and forward flow delivery options to approved correspondents.

Mayhook comes to FGMC with almost ten years of experience in the industry, much of it in correspondent sales and trading. Before coming to FGMC, Mayhook managed a mortgage pipeline of ABN AMRO’s private banking clientele. Previously, he worked in sales and account management for Morgan Stanley’s correspondent conduit. He has a Master of Business Administration degree from Lynn University, and earned his undergraduate degree from Albany State University of New York.

“Mark is the right person to drive FGMC’s philosophy into our capital markets channel,” said FGMC Chief Executive Officer Andrew Peters. “He believes firmly that FGMC is the premier alternative to many of the traditional lenders for correspondents seeking liquidity, and those seeking accommodation for a number of untraditional loan scenarios. He is also an advocate of common sense underwriting, and going beyond many of the guideline overlays used by most lenders.”

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