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Article: In Brief: MortgageBrokers CEO Giving Back Stock.(Alex Haditaghi, MortgageBrokers.com Holdings Inc.)(Brief article)
- Article from:
- American Banker
- Article date:
- March 21, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MortgageBrokers.com Holdings Inc. said its founder and chief executive would give 5 million of his shares back to the company "to accelerate the recruitment and acquisition of mortgage originators."
The New York mortgage brokerage consolidator and technology firm said Monday that Alex Haditaghi's returned stake would be used to acquire Canadian firms making as much as $2.6 billion of mortgages.
The shares were trading at about $1.75 on Friday on the over-the-counter bulletin board, and MortgageBrokers said the transaction would be nondilutive.
Last month the firm announced it had acquired the Vaughan, Ontario, brokerage Your Mortgage ...