Mortgage Network expands national wholesale operations MortgagePress.comMortgage Network, MNET Mortgage Corporation, Thomas Palmer
Mortgage Network Inc., also known as MNET Mortgage Corporation,
has unveiled expansion plans for its wholesale operations in North
Carolina, South Carolina, Tennessee, Georgia and Alabama. The
company also announced the addition of Thomas Palmer as national
wholesale manager hired to lead the company's next phase of
A well known figure in the industry, Palmer brings over 25 years
of experience to Mortgage Network.
Thom was one of the original executive staff of RBMG, having
grown the company from start up to the nation's seventh largest
wholesale lender in just six years. Thom has also been at the helm
of some of the largest national companies, most recently as senior
vice president and channel executive for correspondent lending at
Bank of America Securities. Prior to that, he was senior vice
president, channel director correspondent national sales at
Washington Mutual/Fleet Mortgage. He was one of only three Fleet
executives retained in WAMU's acquisition of Fleet. While at WAMU,
he increased volume from $68 billion to $150 billion in 2003 and he
was rated as number one channel producer accounting for 43 percent
of WAMU's total volume. He was also ranked as the number two
national correspondent lender. Prior to WAMU, he was a senior vice
president at Fleet Mortgage and has held numerous other positions
with other lenders.
In the past twelve months, Mortgage Network has opened eight new
offices; increased its staff by over 33 percent and continues to
hire across all offices coast to coast. It recently announced
record loan volume for Q1 2008, up 93 percent over the first
quarter of 2007. The company topped $2 billion in loans, the second
highest quarter in the company's history and the highest production
since the refinance boom of 2003.
For more information, visit www.mortgagenetwork.com.