Residential mortgage lender Platinum Home Mortgage Corporation has announced the launch of its new correspondent lending division that will specialize in renovation lending. Led by division vice president Jane C. King and assistant vice president and operations manager Michael Young, the Albany, N.Y.-based correspondent lending division will serve retail mortgage lenders in the contiguous 48 states. Platinum Home's correspondent lending division will specialize in government and conventional renovation financing programs with special emphasis on FHA 203(k) and FHA 203(k) Streamlined programs. They also offer the Fannie Mae HomePath Mortgage and HomePath Renovation Mortgage, along with a more traditional product menu.
"Our correspondent lending division is designed as a resource for our residential lending partners to add more delivery options and to open the doors to more production," said William W. Giambrone, chairman and CEO of Platinum Home Mortgage.
Prior to joining Platinum Home Mortgage, King and Young served in similar capacities at Freedom Renovation, a division of Freedom Mortgage. King comes to Platinum Home Mortgage with more than three decades of renovation lending industry experience. Young has more than 20 years of experience.