A Massachusetts-based national net branching operation is expanding into alternative lending.
Fairway New England Mortgage is expanding and adding an alternative lending division that "will focus solely on nontraditional financing," according to an announcement today.
The Needham, Mass.-based company will initially offer the services in Massachusetts, Maine, Connecticut, Rhode Island and New Hampshire, the statement said. But parent Fairway Independent Mortgage Corp., a Wisconsin-based 10-year-old "traditional lender," plans to integrate the program nationally through its nearly 100 branches.
The new unit will be headed by Heath Lefort.