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Freedom Mortgage Corporation has announced that it is seeing a significant boost in its expanded correspondent program. Further gains are expected following the addition of the Ginnie Mae PIT program to Freedom Mortgage's co-issue correspondent program, which also includes Fannie Mae and Freddie Mac. The company's co-issue program provides another option to small and mid-tier lenders to fit the unique needs of their business. Freedom Mortgage launched the co-issue program in February to support the continued growth of its correspondent lenders. The company has continued to broaden its offering to include both Fannie Mae and Freddie Mac, as well as Ginnie Mae.
Freedom Mortgage's correspondent program was further expanded in 2016 with the acquisition of JPMorgan Chase's USDA Rural Housing platform, completed in July. Based on the successful transition, the USDA unit recently purchased its highest volumes of the year from correspondent lenders catering to this specialized market. Freedom Mortgage is both the largest FHA/VA lender and the largest USDA lender in the U.S.
"The addition of Ginnie Mae to the co-issue program is a very logical way to empower our correspondent lenders to grow and achieve greater profitability," said David Sheeler, executive vice president of Freedom Mortgage Correspondent Lending and Servicing Finance. "This service offering speaks to the diversity, strength and stability of the Freedom Mortgage organization, as well as to our unwavering focus on our clients and their borrowers. In our continued mission to be the premier investor in the industry, we pride ourselves on our ability to provide a broad array of services and innovative solutions to our clients while remaining flexible in today's market environment. We are focused on long-term partnerships and will be proactive in catering to our clients' needs in all market environments."