A national wholesale lender has launched a new branch business that promises to help mortgage brokers navigate the increasingly complex regulatory and compliance landscape.
The news came Tuesday from Real Estate Mortgage Network Inc. The Edison, N.J.-based company claims to be “one of the largest independent mortgage lending firms in the U.S.”
REMN already operates a wholesale business, a retail channel and a consumer-direct division.
The new channel will be operated through Menlo Park Funding.
“Brokers who join Menlo Park Funding will benefit from REMN’s extensive resources, but even more importantly, they will be aligned with a leading independent lender known for its first class commitment to quality,” the news release stated.
Menlo Park Funding National Sales Director Joe Amoroso explained in the statement that regulatory changes can be overwhelming. He said that targeted mortgages brokers will be those who need “some assistance navigating the intricacies of the industry that weren’t in place when they first began doing business.”
Branches will be provided with help adjusting to compliance changes and bonding requirements. In addition, they will have access to REMN’s “comprehensive” training resources.
Eight branches have already been opened in the Northeast, and more openings are planned.
Prospective mortgage brokers are being asked to contact Amoroso at [email protected].