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EverBank to Shut Down Wholesale Ops and Eliminate 150 Positions

NationalMortgageProfessional.com
Jul 30, 2013

EverBank Financial Corporation has announced that it will end its wholesale broker home lending business and intensify its focus on the company's growing network of retail lending offices and consumer-direct and correspondent lending channels. The company will close wholesale lending regional operations centers in Dallas, Texas, Sacramento, California, and Jacksonville, Florida, and will eliminate approximately 150 positions nationwide as result of these changes. "As the housing market recovers and the competitive and regulatory landscape of the residential mortgage industry evolves, we believe now is the time for EverBank to focus on growth opportunities in our retail, direct and correspondent lending businesses," said Robert M. Clements, EverBank's chairman and chief executive officer. EverBank's wholesale broker lending business offered a comprehensive suite of mortgage products to mortgage brokers nationwide, including conventional, FHA, VA and jumbo loans.  These products will continue to be offered by EverBank to clients across the country through the company's other home lending distribution channels. "We're dedicated to providing innovative mortgage products to our clients and improving the efficiency and effectiveness of EverBank's loan-origination platforms," said Blake Wilson, EverBank's president and chief operating officer. "To do that, we've decided to exit the wholesale broker lending business and continue enhancing our other residential lending channels."
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