The former chief executive officer of a subprime mortgage wholesale lender has launched a new wholesale lending company.
A news release Tuesday announced the launch of NewLeaf Wholesale. The company says it is a direct-to-agency lender.
The new wholesale lender says that it serves mortgage brokers and mortgage bankers who are located in the West.
NewLeaf is a subsidiary of Skyline Financial Corp., a company founded in 2010 by Bill Dallas.
Dallas is the former CEO of Ownit Mortgage Solutions, a subprime wholesaler that ended operations in 2006. Ownit was one of the early casualties of the subprime meltdown.
In today’s announcement, NewLeaf says it offers “a large portfolio of loan products enhanced by clear credit parameters and prompt decision making and closing, a business model suited for the emerging purchase market.”
A wholesale regional operating center opening in San Diego will be overseen by Marti Tromley.
NewLeaf is online at www.NewLeafWholesale.com..
