Skip to main content

Wholesale lender NexBank launches broker to banker platform

Aug 09, 2010

Recognizing the significant role that smaller, independent originators play in generating mortgage loans, NexBank, a North Texas leader in banking and financial services, has announced the launch of a new warehouse lending program designed to give small and mid-sized banks, as well as large mortgage brokers, the capacity and flexibility to grow and compete for business. NexBank has committed $100 million in capital to their new warehouse lines to date.  “Not only does this new warehouse lending product allow mortgage bankers and brokers to expand their business capacity with access to capital and control,” said Jed Meaux, vice president and head of NexBank’s mortgage division, “it also gives consumers more options to choose from—and in the market today, this kind of flexibility is a winning strategy.” NexBank will be offering multiple tiers to their program, from $100,000 required in net worth to $1 million depending on the size of the warehouse line.  “But with the introduction of this new line of credit, NexBank has realized an overwhelming positive response from our current clients as well as new customers to participate in this lending program," said Meaux. "Small mortgage bankers need a financial partner and business support. With this new warehouse line of credit, our customers can significantly impact their profitability and increase their agility in the marketplace." Meaux noted that he is seeing an increase in the number of brokers in the market who are becoming bankers by obtaining warehouse lines of credit. As this development continues, NexBank will be able to expand and broaden its range of clients—adding small and medium-sized local mortgage bankers and mortgage brokers—who seek the professionals in NexBank’s mortgage division because they recognize the bank’s ability to deliver a financial package that supports long-term growth. “The small to mid-sized banker and large mortgage broker are comfortable doing business with NexBank,” said Meaux. “Essentially, it is really about relationship—it is about doing business with a partner you can depend on and who you know has the means to financially support the growth of your business—and who is not going to surprise you by pulling out of the market, putting both you and your customers at risk.” For more information, visit www.nexbank.com.      
About the author
Published
Aug 09, 2010
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024