Fairway Enters the TPO Marketplace
Fairway Independent Mortgage Corporation, one of the country's largest and fastest-growing mortgage bankers, announced that it will start offering Federal Housing Administration (FHA) loan origination services and sponsor mortgage brokers and other third parties who initiate FHA-insured mortgages for borrowers. The step follows the company's recent moves into the wholesale lending and fulfillment services markets, as well as the recent decisions by several large lenders to abandon or limit their business through third party originators. Fairway offers four fulfillment options depending on a specific originator's needs, whether they need a source of funds or outsourcing loan fulfillment on a scalable basis: ►Fairway Traditional: A traditional broker/third-party originator relationship ►Fairway Advantage: A scalable fulfillment offering ►Fairway Direct: A referral program ►Fairway Correspondent: A closed loan purchase program "Although the mortgage brokerage industry has gone through unprecedented changes, we strongly believe in brokers and smaller correspondents as an origination channel and are looking forward to filling the void being created by larger institutions," said Howard Hoyt, sales manager for Fairway Wholesale Lending, a division of Fairway Independent Mortgage Corporation. "Independent brokers continue to play an important role in our industry by providing competition and consumer choice. They need assistance to thrive, though. With Fairway's infrastructure, FHA expertise, and capital resources, brokers can get the help many of them desperately need to keep their customer commitments and grow their business. We can also help them stay compliant with new regulations such as those under the Dodd-Frank Wall Street Reform and Consumer Protection Act." For more information, visit www.FairwayIndependentMC.com.