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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.



The Wholesale Mortgage Business

Recent program activity at wholesale lenders

Feb. 17, 2014

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Wholesale providers of home loans are expanding their territories, improving their technology and polishing their brands as they seek to garner a bigger share of the mortgage broker market.

Residential loan brokers will get some assistance in providing loan statuses to realtors with UWM Track, according to United Wholesale Mortgage.

Brokers log in to the broker portal-EASE, track their pipelines and generate e-mails to realtors who are then directed to a secure page with real-time loan statuses.

"The efficiency and visibility the solution offers eliminates communication issues and facilitates the broker's ability to forge stronger relationships with realtors, thus increasing business," the statement earlier this month said.

United Wholesale, which is online at www.uwm.com, previously announced that it provides originators with an option for borrowers to select the amortization term.

In November, Carrington Mortgage Services LLC said its wholesale lending footprint expanded into the Southeast. An operations center has been opened in Jacksonville, Fla. Carrington said it is committed to "extending its reach and growing its wholesale business into 2014." The Santa Ana, Calif.-based firm's website is at www.CarringtonWholesale.com.

TMS Funding was re-launched last month as Total Mortgage Wholesale. Parent Total Mortgage Services LLC said in an announcement that the new name capitalizes on the "Total Mortgage" brand.

"Bringing our wholesale division under the Total Mortgage umbrella will not only support the firm's vision of becoming the most trusted mortgage lender across all origination channels," Total President John Walsh said in the statement, "but will help deliver the right mortgage solution to more borrowers and create a positive business outcome for mortgage brokers."

Total Mortgage's wholesale website URL is www.totalmortgagewholesale.com.

First Guaranty Mortgage Corp. recently disclosed plans to expand its wholesale and correspondent presence from Texas to California. Zenon Zorij was named regional TPO manager for the West. The wholesaler's website is located at www.fgmcwholesale.com.

Seven new account executives have been hired by Austin, Texas-based 360 Mortgage Group LLC. The new hires are working with mortgage brokers in Arizona, Florida, Illinois, Michigan, Missouri and Nevada. Brokers can access the wholesaler online at www.360mtg.com.

Back in November, 360 Mortgage proclaimed that it had launched a new aggressive pricing model.

Mortgage Elements says it has more than 150 wholesale lenders listed in its website matrix at www.MortgageElements.com. Both national and local wholesalers are listed in the service.

Commercial real estate loans are being offered from AVANA Capital to mortgage brokers. The Glendale, Ariz.-based company, which says it "is one of only a handful of companies offering such products," is online at www.avanacapital.com.


Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

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Mortgage Broker News | Originator Newsletter
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