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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.

Wholesalers Offer HECM, Investor and Alt-Doc Loans

Wholesale mortgage lenders promote programs

Oct. 10, 2017

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.

In July, Reverse Mortgage Funding LLC announced that it is offering its home-equity conversion mortgage for purchase certification program for broker partners.

The on-demand course helps third-party originators improve their competitive advantage by becoming HECM For Purchase Certified experts.

RMF, a Mortgage Daily advertiser, promotes its services online at

A new wholesale partner channel has been launched by CoreVest, a Sept. 27 statement said. The channel will provide mortgage brokers with financing for residential investor properties.

Single-property rental loans are available from the Irvine, California-based firm with 30-year fixed rates, up to 75 percent loan-to-value ratios and amounts up to $1.4 million.

CoreVest says its has already funded nearly $3 billion in investor loans. The new channel promises "a unique suite of investor loan products and a simple process that is fast, reliable and easy."

Samuel Bjelac has been hired as vice president to run the wholesale channel, which is promoted online at

Financing for ITIN undocumented borrowers is being offered by Greenbox Loans Inc. at up to a 90 percent LTV ratio, a recent marketing message stated. The property must be owner occupied.

Los Angeles-based Greenbox said the loan amount can be as high as $600,000. No credit score is required up to 75 percent LTV ratios, though non-traditional tradelines are required.

Greenbox touts it wares online at

A marketing message form Citadel Servicing Corp. said the wholesaler has a 90 percent LTV programs on purchases with no private mortgage insurance.

Citadel will lend 24 months after a foreclosure, short sale or bankruptcy. Bank statements are acceptable for income. The maximum debt-to-income ratio is as high as 50 percent.

Information about Irvine, California-based Citadel is online at

Parsippany, New Jersey-based AFR Wholesale announced on Aug. 11 its 10-year anniversary. AFR reports a network of more than 1,000 mortgage brokers and correspondents. The company is online at

PennyMac Financial Services Inc. reported in its earnings presentation that United Wholesale Mortgage ranked as the largest wholesale lender during the first quarter with $4.5 billion in production. Caliber Home Loans Inc. followed with $2.7 billion, then Stearns Lending LLC at $1.8 billion, loanDepot LLC with $1.5 billion and Union Bank at $1.4 billion.

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.

[email protected]

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hard money lending. Home-equity loans and home-equity lines of credit.

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