Small- and medium-sized originators are the target of a financial services company that has a new warehouse lending product. The new offering helps mortgage brokers make the transition to mortgage banker.
The program was launched by NexBank, a statement Friday said.
The Dallas-based company is targeting small- and mid-sized banks, mortgage bankers and large mortgages brokers.
“Small mortgage bankers need a financial partner and business support,” the release said.
Company executive Jed Meaux said the number of brokers looking to become mortgage bankers through warehouse funding has been increasing.
NexBank launched the division because of “the significant role that smaller, independent originators play in generating mortgage loans.”
Meaux said in the statement that the new product will enable mortgage brokers and mortgage bankers to expand while consumers will benefit as a result of increased options.
NexBank said it has been overwhelmed by the positive response from its current clients.
