Obama announces Homeowner Affordability and Stability Plan
NexBank offers new wholesale lending divisionMortgagePress.comNexBank, wholesale lending division, NexBank Wholesale Lending, PPE, Davis Deadman, Keith Kitterman NexBank SSB has announced a new wholesale lending division, called NexBank Wholesale Lending, which allows mortgage bankers and brokers the opportunity to provide clients with a new means of traditional mortgage funding. The low maintenance, paperless operation includes an automated Product and Price Engine (PPE) and provides simple and prudent financing for residential mortgages, such as purchases, refinances and investment properties. "Our direct lending and commercial business has kept a good, steady pace, even in the current market," said Davis Deadman, NexBank president and chief executive officer. "Wholesale lending makes it possible for us to extend this success, and leverage the companys experience and financial strength to increase our overall lending activity. We have aggressive goals for our new wholesale mortgage operation, and believe it has enormous potential for innovation and success." NexBank's wholesale lending program provides mortgage bankers and brokers a set of funding options that includes FHA, conforming, RD and VA lending products. "Additionally, were fortunate to have some of the most qualified lending professionals on our team combined with some of the best service in the industry," said Deadman. Keith Kitterman, director of Wholesale Lending, joined NexBank in 2008 from a national mortgage financing and services company where he directed the regional operations in Dallas for several years. Kitterman brings market knowledge, ingenuity and experience in similar markets and understands how to pilot NexBank's new division during intense market pressures. "This new operation with NexBank combines optimal timing, experience and financial stability with a superior organization," said Kitterman. "The infrastructure, economics and historic business model in mortgage lending is currently being rewritten because of market conditions, and we are rebuilding the enterprise to be successful not just today but five years from today," said Kitterman. Even with the broad offering of products and services, business objectives are to keep loan underwriting fast and efficient and make timely decisions, maintaining procedures that include a fully automated and paperless operation. "Agility is important in any business, but especially in today's lending market," said Deadman. "It's the intention of NexBank to be highly responsive and fast, giving every advantage we can to our customers." For more information, visit www.nexbank.com.