A residential lender based in the Chicago area is targeting correspondent clients for renovation programs.
The company is Platinum Home Mortgage Corp.
In an announcement Wednesday, the Rolling Meadows, Ill.-based company said that it has added a correspondent lending division. The new unit will specialize in renovation financing.
Platinum plans to buy loans in the Lower 48 States.
Among programs it plans to showcase are FHA 203(k) loans and Fannie Mae’s HomePath product.
“Our correspondent lending division is designed as a resource for our residential lending partners to add more delivery options and to open the doors to more production,” Platinum Chairman and Chief Executive Officer William W. Giambrone said in the announcement.
Leading the correspondent operation are Jane C. King, division vice president, and Michael Young, operations manager. Both were formerly employed by Freedom Mortgage.
