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First Mortgage history
First Mortgage company history timeline
In 1968, the Government National Mortgage Association emerged to bring uniformity to the American mortgage market by bringing financial instruments to keep it afloat.
The birth of the Federal Home Loan Mortgage Corporation occurred in 1970 to help promote home ownership.
In 1972, Fannie Mae and Freddie Mac both began to purchase conventional mortgages that were not guaranteed or insured by the FHA or VA. Instead of seeking approval from the FHA or VA, loans could be insured by Private Mortgage Insurance (PMI) companies.
Wholly owned by Credit Unions and built on the philosophy of “People Helping People,” Member First Mortgage (MFM) has provided homebuyers with mortgage financing since 2001.
Most recently, the subprime mortgage crisis followed the peak home prices in 2006.
In September of 2008, both Fannie Mae and Freddie Mac were placed under government receivership.
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First Mortgage competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| American Mortgage | 1975 | $21.0M | 48 | - |
| Allied Home Mortgage | 1991 | $98.0M | 3,000 | - |
| American Equity Mortgage | 1992 | $720,000 | 50 | - |
| American Home Mortgage | 1987 | $1.0B | 7,409 | - |
| National Mortgage, Inc. | - | $1.4M | 50 | 320 |
| Mortgage Inv. Group | 1989 | $49.9M | 510 | 27 |
| Primary Residential Mortgage | 1998 | $730.0M | 1,953 | 62 |
| New Penn Financial, LLC | 2007 | $800.0M | 3,000 | 1 |
| Supreme Lending | 1997 | $850.0M | 3,000 | - |
| CTX MORTGAGE Co LLC | 1973 | $16.0M | 50 | - |
First Mortgage history FAQs
Zippia gives an in-depth look into the details of First Mortgage, including salaries, political affiliations, employee data, and more, in order to inform job seekers about First Mortgage. The employee data is based on information from people who have self-reported their past or current employments at First Mortgage. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by First Mortgage. The data presented on this page does not represent the view of First Mortgage and its employees or that of Zippia.
First Mortgage may also be known as or be related to First Mortgage, First Mortgage Company, First Mortgage Company LLC, First Mortgage Company, L.L.C. and First Mortgage Corp of Chicago.