Review Mortgage Lenders

Coastal Mortgage Corporation

Otis Elevator at the Coastal Mortgage Building in Cornelius, NC

This is the elevator at the Coastal Mortgage building in Cornelius NC, it is a series 1 Otis.

Insiders Selling, Short Interest Growing South State Corporation (NASDAQ:SSB)

South State Corporation (South State), launched on February 22, 1985, is a bank holding company. The Company provides a range of banking services and products to its customers through its bank subsidiary, South State Bank (the Bank), a South Carolina-chartered commercial bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. As of December 31, 2016, the Company served customers and conducts its business from 116 financial centers in 24 South Carolina counties, four North Carolina counties, 11 northeast Georgia counties and two coastal Georgia counties..

Here are a few other firms who have also updated their positions. Advisory Services Network, LLC reduced its holdings by shedding 33 shares a decrease of 1.8% from 03/31/2017 to 06/30/2017. Advisory Services Network, LLC now controls 1,814 shares with a value of $155,000. The value of the position overall is down by 6.1%. Westwood Holdings Group Inc bolstered its ownership by buying 138,626 shares an increase of 37.8%. Westwood Holdings Group Inc claims 505,381 shares valued at $43,269,000. The total value of its holdings increased 32.0%.

Small Lenders Call for Restraint on Housing Finance Reform During Senate Banking Committee Hearing

On July 20, the Senate Committee on Banking, Housing, and Urban Affairs (Committee) held a hearing entitled, “Housing Finance Reform: Maintaining Access for Small Lenders.” Frequent topics of discussion in the hearing included, among other things, housing finance reform, secondary market access, affordable housing, access to credit in rural areas, mortgage insurance, and mortgage backed securities issued by government-sponsored enterprises (GSEs), operating under conservatorship since 2008.

Sen. Mike Crapo (R-Idaho), Chairman of the Committee, remarked in his opening statement that “small lenders play a critical role in the mortgage market,” and that a need exists to preserve access to the secondary market. However, Sen. Crapo asserted that although GSEs are currently earning profits, a risk exists for taxpayers if there is a market downturn. “A mortgage market dominated by two huge government-sponsored companies in conservatorship is not a long-term solution, and is not in the best interest of consumers, taxpayers, lenders, investors, or the broader economy,” Sen. Crapo stated.