Affiliated Mortgage Company has announced its entry into the wholesale origination sector. The company’s new Wholesale/Mini Correspondent Division will be led by Jerry Alred. “The addition of the Wholesale/ Mini Correspondent Division will provide Affiliated Mortgage Company’s clients with the entire suite of mortgage services,” said Mike Barnett, chairman and CEO of Benchmark Bank. “Our relationship with Jerry Alred and his team goes back many years and we know that we share a common business philosophy. We are thrilled to have them as part of our family.”
Alred joins Affiliated Mortgage from Houston-based Classic Home Financial, Inc. In addition to Alred, his management, underwriting, closing and customer service personnel also will join Affiliated’s new third party origination (TPO) organization. The team has worked with Alred for more than 15 years.
“The benefits of joining Affiliated Mortgage are exciting and numerous,” said Alred. “Being a division of Benchmark Bank will allow us to sell directly to the agencies, offer our customers warehouse lines, have sophisticated pricing, locking and delivery systems and competitive pricing. We will add these qualities while retaining the personal customer service and attention to detail that has always been a trademark of my business.”
The Wholesale/Mini Correspondent operations team will be located in Houston, Texas with the objective of expanding its client base throughout the state of Texas and beyond. Potential TPO clients will have access to proven mortgage lending acumen and in good standing with all agencies.
Affiliated Mortgage Company is the home loan division of Benchmark Bank, a Texas banking leader since 1964. In addition to its recent entry into the wholesale origination sector, the company offers residential loans through retail and correspondent channels. Affiliated Mortgage’s correspondent lending division offers a full line of lending services and products for banks, savings banks, credit unions and other financial services providers nationwide. In addition, the company currently operates retail branches in Texas, Georgia, and Ohio and is currently seeking to expand its retail platform to other states.