- Pine State Mortgage Corporation – 314% – Default Rate 18.86%
- Premium Capital Funding, LLC dba Topdot Mortgage – 238% – Default Rate 14.31%
- Ideal Mortgage Bankers, Ltd, dba Lend America^ – 235% – Default Rate 14.14%
- IndyMac FSB, dba OneWest Bank – 211% – Default Rate 12.67%
- First Horizon Home Loans dba First Tennessee – 207% – Default Rate 12.45%
- First American Mortgage Trust – 205% – Default Rate 12.31%
- First Guaranty Mortgage Corp. – 204% – Default Rate 12.26%
- American Financial Resources, Inc. – 202% – Default Rate 12.16%
- Weststar Mortgage Corporation – 198% – Default Rate 11.88%
- Gateway Mortgage Group – 198% – Default Rate 11.9%
- Colonial Bank – 189% – Default Rate 11.38%
- MVB Mortgage Corporation – 183% – Default Rate 11.01%
- GMAC Mortgage – 171% – Default Rate 10.29%
- Allied Home Mortgage Corporation – 168% – Default Rate 10.09%
- Taylor Bean & Whitaker Mortgage^ – 163% – Default Rate 9.77%
- Shore Financial Services, Inc. dba Shore Mortgage – 159% – Default Rate 9.54%
Problem Issuers by Loan Volume
The charts in the article are interactive so please give it a look.
GMAC – The Gift That Keeps On Giving
None of the above banks should be doing business with Ginnie Mae. Indeed, most of them should not be doing business at all, especially GMAC.
To help bailout GM , the Obama administration screwed the bondholders to appease the unions, and taxpayers