A new wholesale mortgage lender is opening for business in a handful of states with plans to quickly expand to several more. Staffing is dominated by millennials.
Princeton Mortgage Corp. says it is a full-service mortgage banking firm. The Pennington, New Jersey-based company was founded in 1983.
On Thursday, a news release indicated that the the lender is opening a new wholesale division. The unit is expected to start doing business this month.
Princeton Mortgage Wholesale will operate from Pittsburgh.
Heading up the division as director, national wholesale lending, is Matthew Joy, who came on board in July. Joy’s LinkedIn profile indicates he started in the business in 2009 with Provident Funding Associates LP.
On its website, the wholesaler says it is approved as a seller-servicer with Fannie Mae and Freddie Mac. Government program are reportedly “coming soon.”
Initially, the wholesaler will service mortgage brokers in Colorado, New Jersey and Pennsylvania. But there are near-term plans to expand to Delaware, Florida, Georgia, Maryland and Virginia.
Princeton Mortgage is mostly staffed by millennials — with the average age of employees being 29 years old.
“We were brought up doing our homework on computers,” Joy stated in the announcement. “We’re tech savvy, we’re super entrepreneurial and we know good customer service when we see it. To us, if you’re not doing that, a suit and tie are not going to help achieve those goals.”
Information about the wholesale division in online at
www.princetonwholesale.com.
