Less than a year after launching a correspondent division, a Chicago-area lender is reporting stellar growth at the business.
The new unit’s specialty was renovation programs like the FHA 203(k) loans and Fannie Mae’s HomePath product, according to the 19-year-old company.
As of Wednesday, the Rolling Meadows, Ill.-based company has “tripled” the correspondent division’s geographic territory. Platinum now operates in 43 states and it is licensed in 44 states.
In order to maintain the growth, Platimum has recruited James L. Bopp as business development manager. The 20-year mortgage veteran previously worked for Community Bank, N.A., and served as president of the Mortgage Bankers Association of Northeastern New York — where he remains on the group’s legislative committee as chairperson.
Correspondent Lender Launches
An up-and-coming lender is entering the correspondent channel.