twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.

Alt-A Wholesaler Winding Down

WinStar sells assets to American Sterling Bank

August 6, 2007


photo of Coco Salazar

A Minnesota-based wholesale lender has sold off its production operations and appears to be winding down.

WinStar Mortgage Partners Inc. recently sold the assets and employees of its San Diego and Minneapolis production offices to American Sterling Bank, American Sterling spokesman Brannon Ogburn told Friday afternoon. The Foothill Ranch, Calif.-based lender also acquired sales production teams in Chicago and Virginia but not the branches or assets.

The deal excluded WinStar's Minneapolis headquarters operations, Ogburn noted.

Altogether, American Sterling gained 59 employees from WinStar, which closed about $139 million in loans per month, the spokesman added.

American Sterling has combined the regional production offices of WinStar into its existing mortgage operations, according to an announcement Tuesday on WinStar's site.

"This change was a strategic decision for both companies to take advantage of their strengths in different areas and combine them to offer stronger products and services to their customers," the announcement read.

WinStar was a privately-owned and capitalized wholesaler lender specializing in A and Alt-A loans, according to its Web site.

Although unsure, Ogburn said he believed WinStar had a skeleton crew remaining that was winding down the pipeline in Virginia and Chicago.

WinStar was not immediately available for comment.

WinStar was licensed in 42 states and did business with over 2,000 mortgage brokers, while attracting 15 percent of its volume from sister company and retail lender Summit Mortgage Corp. WinStar was originally the secondary marketing division of Summit prior to becoming a separate company. The wholesaler also had a division, which in December 2005 changed its name from Partner Loan Services to match that of WinStar's, according to WinStar's Web site.

"WinStar has truly appreciated your business in the past and our combined companies look forward to continue serving you and your borrowers in the future," Tuesday's announcement said.

Coco Salazar is an associate editor and staff writer for

e-mail: [email protected]

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Wholesale Lending News | Directory | P r i cing Engine | Originator Newsletter
News about wholesale lenders, correspondent lenders and wholesale mortgage lending programs. Alt-A, subprime and other niche loan programs. Lawsuits between wholesalers and brokers.

Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders