May 18, 2024
You are here:  Home  >  Banking & Finance  >  Banking Industry  >  Current Article

First Mortgage Corp. closing Ventura branch


Ontario-based loan provider First Mortgage Corp. is closing its doors, including a branch in Ventura, the company announced on Oct. 26.

First Mortgage stopped giving out loans in July, according to the news release. It is in the process of selling off or liquidating its loan and servicing portfolios and its loan origination offices. Its Ventura branch was at 5200 Telegraph Road.

The company sold many of its assets earlier this year to Freedom Mortgage, including its loan servicing rights.

First Mortgage focused on making home loans to first-time homebuyers and the working poor. It maintained low delinquency rates for its servicing portfolio of more than 30,000 loans, according to the release.

• Contact Alex Kacik at