First Guaranty Mortgage Financially Collapses Under Boycott

September 4. 2025

This is a follow up to the article "Boycott First Guaranty Mortgage Corporation And Coester VMS Who Are Scammers And Con Artists Engaging In Discrimination While Ripping Off People Seeking Mortgages" where I asked for a boycott of the company First Guaranty Mortgage for robbing me and my mom in a real estate deal. I had not been keeping up with them. However, I read recently that they filed for bankruptcy with $473 million in debts. It's just as well. They are an untrustworthy and crooked company. They laid off 80% of their workforce, which is sad but these very employees have behaved badly in going along with conduct they knew to be unethical and criminal. No one blew the whistle to Congress or any regulators regarding what was going on at the company. Therefore, they were complicit.

I'd also called for a boycott of Washington Mutual for criminal behavior and they collapsed less than 2-years after. The company was sold for far less than it is worth. Then there's the site boycott I called for regarding loser pop singer Madonna and it killed off her career (The FBI Is Stonewalling Congress On Releasing FBI File In Madonna Human Rights Abuse Case (Congressional Documents)). She has not had a hit since. It has since been revealed she is a child sex trafficker (Human Rights Group Files Formal Complaint With The African Congress Against Madonna And Her Hollywood Cult For Child Sex Trafficking, Child Trafficking And Forced Adoptions In Africa). That hideous trashbag Madonna doesn't deserve a career...or freedom.

STORY SOURCE

First Guaranty Mortgage Corporation Representation of First Guaranty Mortgage Corporation (“FGMC”), which filed for bankruptcy protection in the District of Delaware in June 2022. Prior to filing for bankruptcy protection, FGMC operated as a full service, nonbank mortgage lender and was one of the leading independent mortgage companies in the United States that originated residential mortgages through a national platform. During its bankruptcy case, FGMC successfully negotiated settlement agreements with the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae) and numerous other loan and servicing counterparties. As a result of these agreements, FGMC was able to propose and confirm a plan of liquidation in late September 2022. Under the confirmed plan, a liquidating trust was created to collect and liquidate assets transferred to the liquidating trust. The firm continues to act as counsel to the liquidating debtor and the trustee of the postconfirmation liquidating trust in completing those tasks.

https://www.pszjlaw.com

First Guaranty Mortgage files for Chapter 11 after layoffs

June 30, 20226:28 PM EDT - Updated June 30, 2022 - Mortgage lender First Guaranty Mortgage Corp filed for bankruptcy in Delaware on Thursday, saying it had laid off 80% of its employees and stopped making new loans. The company, based in Plano, Texas, originated $10.6 billion in mortgage loans in 2021, according to a court filing, opens new tab in its bankruptcy case. It entered Chapter 11 with more than $473 million in debt, largely owed to banks that provided funding for the company's residential mortgages...

https://www.reuters.com

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