First Guaranty Mortgage Corporation

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  1. November 21, 2023

    First Guaranty, Ex-Staff Seek OK On $1.75M WARN Deal

    First Guaranty Mortgage and a proposed class representing employees laid off in 2022 asked a Delaware bankruptcy judge to approve a settlement of $1.75 million to close out the ex-staff's WARN Act claims in a Chapter 11 adversary proceeding against the home loan originator.

  2. November 02, 2023

    First Guaranty Whistleblower Escapes Chapter 11 Contempt

    A Delaware bankruptcy judge on Thursday decided not to hold counsel for a First Guaranty Mortgage Corp. whistleblower in contempt of court for continuing to pursue claims against Pacific Investment Management Co., but he did tell the lawyers to expend "greater energy" on complying with his plan confirmation order.

  3. September 26, 2023

    Parties Agree To Destroy Files In First Guaranty Bankruptcy

    Parties in First Guaranty Mortgage Corp.'s Chapter 11 bankruptcy told a Delaware federal judge Tuesday they've struck a deal after objecting to the trustee's request in June to destroy records that were too expensive to keep.

  4. September 25, 2023

    First Guaranty Must Face Gender Bias Claims, Judge Finds

    A Delaware federal bankruptcy judge has lifted a pause on a lawsuit from an executive and two managers at First Guaranty Mortgage Corp. who claim they were fired or demoted after complaining about an executive's displays of discrimination against women.

  5. October 31, 2022

    First Guaranty Mortgage Gets Green Light For Ch. 11 Plan

    The Chapter 11 bankruptcy plan of First Guaranty Mortgage Corp., a home loan originator and servicer, received approval Monday in Delaware after the debtor negotiated several last-minute agreements with parties to the case to resolve multiple objections.

  6. October 27, 2022

    US Trustee Says First Guaranty Ch. 11 Plan Won't Work

    The U.S. Trustee's Office is calling for a Delaware bankruptcy judge to reject First Guaranty Mortgage Corp.'s Chapter 11 liquidation plan, saying that, among other faults, it fails to account for a possible judgment of more than $7 million against the company for its prebankruptcy layoffs.

  7. October 21, 2022

    Fannie Mae Calls First Guaranty Sales Motion Too Unclear

    Fannie Mae has asked a Delaware bankruptcy judge to reject First Guaranty Mortgage Corp.'s request to set bidding procedures for its assets until the company clears up what is being put on the block, saying it may be trying to sell licenses that don't exist.

  8. September 29, 2022

    First Guaranty Approved For Ch. 11 Docs With Creditor Deal

    Unsecured creditors of bankrupt mortgage lender and servicer First Guaranty Mortgage Corp. withdrew an objection to the debtor's Chapter 11 disclosure statement Thursday after the company announced a deal with the creditors committee in the case.

  9. September 26, 2022

    US Trustee Questions First Guaranty's Ch. 11 Disclosures

    The U.S. Trustee's Office objected Monday to the Chapter 11 disclosure statement of mortgage lender First Guaranty Mortgage Corp., saying the document lacks adequate information about the debtor's assets and its exposure to an employee layoff suit.

  10. August 11, 2022

    First Guaranty Resolves Fight Over $1.55M In Ch. 11 Bonuses

    Bankrupt mortgage lender First Guaranty Mortgage Corp. reached an agreement with unsecured creditors Thursday on its proposed key employee incentive program, allowing the $1.55 million bonus plan to get a bankruptcy judge's approval on a consensual basis.