April 24, 2014 12:48 AM ET

Thrifts and Mortgage Finance

Company Overview of Mortgage Investors Corporation

Company Overview

Mortgage Investors Corporation provides mortgage refinancing solutions to military veterans in the United States. It offers veterans administration mortgage refinancing programs for veterans who are trying to lower their monthly payments or need extra money to help catch up on other monthly bills. The company was founded in 1938 and is based in Saint Petersburg, Florida. Mortgage Investors Corporation is a former subsidiary of Amresco, Inc.

6090 Central Avenue

Saint Petersburg, FL 33707

United States

Founded in 1938

Phone:

727-341-2716

Fax:

727-343-0049

Key Executives for Mortgage Investors Corporation

Compensation as of Fiscal Year 2013.

Mortgage Investors Corporation Key Developments

Mortgage Investors Corp. to Lay Off 476 Jobs

Mortgage Investors Corp. will lay off the majority of its workforce when it stops making loans. The company isn't closing, but will lay off 476, with 256 of those jobs at its St. Petersburg headquarters. A staff of 60 or so will remain to service existing loans. The drastic measures have nothing to do with deal flow, and everything to do with regulation.

Mortgage Investors Corp. to Lay Off 380 Employees

Mortgage Investors Corporation will lay off 380 employees. A notice to state work force officials said 260 employees are being laid off now, with the remainder being laid off by July 26. The company said these circumstances have impacted the company's ability to refinance mortgage loans and sell them in the secondary market. Employees involved in the layoffs include 211 call center appointment setters and 120 loan processors. Each employee will continue to receive full pay and benefits for 60 days after being laid off.

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Recent Private Companies Transactions

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