First Guaranty Financial Corp

Michael Roth, president of E-Net Financial.Com Corp. in Irvine, said Friday that the company has signed a letter of intent to acquire First Guaranty Financial Corp., a Costa Mesa mortgage wholesale banking institution. Terms of the transaction were not disclosed. E-Net provides financial services, conventionally and over the Internet.

Lehman Bros., the storied investment bank that failed in 2008 while holding piles of bad real estate loans, has filed suit against an Irvine mortgage company for allegedly misrepresenting the strength of loans it sold to the Wall Street firm. The lawsuit, filed Monday in federal court in Los Angeles, alleges that Nationsfirst Lending Inc. misrepresented the identities of borrowers, the value and condition of property securing the loans and the validity of loan documents. Officials with Nationsfirst, listed as a suspended corporation on the California secretary of state's website, could not be reached for comment.

Lehman Bros., the storied investment bank that failed in 2008 while holding piles of bad real estate loans, has filed suit against an Irvine mortgage company for allegedly misrepresenting the strength of loans it sold to the Wall Street firm. The lawsuit, filed Monday in federal court in Los Angeles, alleges that Nationsfirst Lending Inc. misrepresented the identities of borrowers, the value and condition of property securing the loans and the validity of loan documents. Officials with Nationsfirst, listed as a suspended corporation on the California secretary of state's website, could not be reached for comment.

Michael Roth, president of E-Net Financial.Com Corp. in Irvine, said Friday that the company has signed a letter of intent to acquire First Guaranty Financial Corp., a Costa Mesa mortgage wholesale banking institution. Terms of the transaction were not disclosed. E-Net provides financial services, conventionally and over the Internet.

E-Net Financial.Com Corp., an Irvine residential and commercial real estate financial services firm, said Monday it has canceled an agreement to acquire First Guaranty Financial Corp., a mortgage wholesale banking institution. E-Net announced in February a tentative agreement to acquire First Guaranty. Terms were not disclosed by either company at that time, and E-Net did not say Monday why the deal fell through. First Guaranty made no public comment Monday.