Primary Capital Advisors announced the offering of FHA mortgage products in August last year. From startup with the new FHA product, Primary Capital now ranks 17th in Georgia.
Last year, First Magnus Financial was a leading FHA wholesale lender in Georgia. First Magnus's leading broker/correspondent was Metro Brokers, Financial . In August 2007, First Magnus filed bankruptcy and stopped originating mortgage loans. The data shows that First Magnus's loss was Primary Capital's gain. Primary Capital succeeded in funding the bulk of Metro Brokers Financial's FHA applicants. This business was key in making Primary Capital a rising FHA mortgage star in Georgia.
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