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Wholesale lender NexBank launches broker to banker platform

NationalMortgageProfessional.com
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.      
Published
Aug 09, 2010
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