New Mortgage Wholesaler Expands Business

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Fresh off a recently made major mortgage acquisition that included a wholesale lending business, Home Point Financial Corp.  is expanding the unit.

On May 31, the Ann Arbor, Michigan-based
mortgage banking firm closed on the acquisition of Stonegate Mortgage Corp., a publicly traded company.

Out of $9.4 billion in total mortgage originations in 2016, Stonegate’s wholesale lending channel was responsible for $2.1 billion of last year’s volume.

An announcement Wednesday from Home Point indicated that its third-party origination channel is being expanded.

The move is being made to grow the wholesale client base by
increasing the geographic reach of the business.

New regional divisions are being implemented by Home Point.

Lisa Patterson, the executive managing director of TPO production, explained in the news release that
several new technology improvements have been designed to simplify the process for its TOP clients on the horizon.

Reporting to Patterson will be four regional managing directors:
Paul Wyner  in the Northeast, Jeff Lochmandy in the Southeast, John Pantalone in the Midwest, Patrick McGrath in the Northwest and Mary Shaver in the Southwest.

Mortgage Expert

Mortgage Daily Staff



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