Wholesale mortgage banking

Wholesale mortgage banking

The purchasing of loans originated by others, for the acquisition of the servicing rights.
References in periodicals archive ?
StellarOne Corporation (NASDAQ: STEL) has said that, through its banking subsidiary, StellarOne Bank, it has entered into an asset sale agreement with Lexington, Tennessee-based First Bank, to sell its wholesale mortgage banking business located in Greer, South Carolina.
said Monday that it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets.
First Franklin is one of the nation's largest mortgage lenders, specializing in wholesale mortgage banking with more than $20 billion in loan originations per year.
Dawson comes to Anchor with a successful career in both retail and wholesale mortgage banking, most recently having been Senior Vice President and Director of Wholesale Operations for Republic Mortgage Services Company in Columbia, South Carolina, and its affiliate, First Performance Mortgage Services.
WFI) announced today that it will cease wholesale mortgage banking originations effective June 17, 2008.
Plymouth Meeting, PA-based Wilmington Finance, Inc (WFI) has announced that it will cease wholesale mortgage banking originations effective June 17, 2008.
13, WACHOVIA CORPORATION, Charlotte, North Carolina, announced it had signed a definitive agreement to acquire San Diego-based wholesale mortgage banking firm AmNet Mortgage Inc.
Prior to joining Brookwood, he worked in both the retail and wholesale mortgage banking industry, starting with The Boston Five Cents Savings Bank.
According to AmNet Mortgage, the change links the company more closely with American Mortgage Network (AmNet), San Diego, its wholesale mortgage banking subsidiary.
Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that the Board of Directors and management had decided that Pacific Mercantile Bank, its wholly owned banking subsidiary, would exit the wholesale mortgage banking business in order to concentrate its capital and other resources on expanding its successful commercial banking business.
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