A company that provides loan fulfillment services is getting into the correspondent lending business.
Titan Lender Corp. already provides mortgage processing and underwriting services for loan origination firms.
The Denver-based firm recently began offering its whole loan purchase review to reduce risk for mortgage bankers and investors — enabling investors to vet standard and negotiated contract terms and variances.
But now Titan has taken its secondary offerings one step further.
On Monday, an announcement indicated that Titan Capital Solutions has opened for business. Jumbo mortgages are its primary product.
The correspondent lending subsidiary has already signed on a limited number of banks and non-bank lenders for initial participation.
Debora Aydelotte was recruited from Aurora Bank to be president of Titan Capital Solutions.
In addition, a “staff of tenured correspondent veterans” has been assembled and operates from Titan Lenders Corp.’s home office in Denver.
“Although many large players have retreated, the industry’s demand for correspondent lending has not been diminished,” Titan Lenders Corp. President Mary Kladde said in the news release. “We are confident that the rise of small to mid-sized players in the correspondent channel will serve only to further stimulate the mortgage industry, setting the stage for a private secondary market revival.”
