Marginal Revolutions

Prospect Mortgage Company is a mortgage business that has been focused on the prime market. This company does not do houses and other mortgages but purchases and consolidates mid-sized retail mortgage banks and smaller retail mortgage banks across the United States. This company provides these bans with cost efficiencies, increased resources, and capital. This company packages its loans and auctions it off to the secondary market which includes government run places such as Fannie Mae and Freddie Mac or other institutional investors.

Prospect Mortgage was founded in Northbrook, Illinois in 2006. The company is a division of Sterling Partners which is a private equity firm out of Chicago. The company was founded by Mark Filler who worked for American Home Mortgage Investment and Prism Financial. This company is widely known across the United States and is well respected. In the year 2007 this company purchased three major mortgage franchises that included Opteum Mortgage, Fidelity and Trust Mortgage and Metrocities Mortgage. In 2008 it was announced that they would purchase CTX mortgage which was a branch of the worlds largest home builders. The company later announced for unknown reasons that they would not acquire this company after all. IndyMac Bancorp is a large bank and is also known as the 2nd largest bank failure in recent U.S. history. It was said in 2008 that Prospect would take over what was left of IndyMac Bancorps company.

The CEO and Chairwoman of this company is Joyce White. The chief Executive Officer is Ron Bergum. Mark Filler is the Executive Chairman and Tracy Jackson is the Chief Financial Officer. To find out more information on this company you can go to their website or call the company and talk to someone about this company. You can also search online for other information about this company.