Live Well Financial CEO sued for repayment of $80M in loans – Richmond BizSense
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“The number of delinquent mortgage loans we service has decreased to less than one-third of the peak levels,” the bank said in a statement. Click here to continue reading on RichmondBizSense.com..
RICHMOND, Va. – The CEO of defunct local mortgage company Live Well Financial is fighting back against a multimillion-dollar lawsuit, arguing he’s not personally on the hook for debt his firm.
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Flagstar Bank is demanding that Michael C. Hild, the CEO of Live Well and the guarantor on the loans, repay the bank more than $82 million in principal, interest and expenses, according to the.
Approves of CEO. I have been working at Live Well Financial full-time for more than 3 years.. mortgage Loan Processor in Richmond, VA. I worked at Live Well Financial full-time for less than a year. Pros. friendly environment, opportunity for growth.
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Michael Hild, CEO of Live Well Financial, which abruptly shut down this month and laid off more than 100 workers, was sued last week in federal court by Troy, Michigan-based Flagstar Bank. The lender claims Hild was the guarantor on more than $100 million worth of loans – for which about $80 million is still owed – and that the loans are in default because Live Well "commenced a liquidation of its business."
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