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First Guaranty Mortgage Corporation (FGMC) has appointed correspondent lending sales veteran, Tom Davis, as its national TPO sales director. "Tom is an accomplished, highly recognized, charismatic TPO sales executive that brings to FGMC exceptional product knowledge, industry knowhow and demonstrated/proven sales experience," said Andrew Peters.
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A real estate loan where a homeowner receives monthly payments based on accumulated equity rather than a lump sum and is repaid upon the death of the owner or sale of the property is a (an) reverse annuity mortgage.