Verus Mortgage Capital Moves Correspondent Operation to New Office Space – NMP
Industry News

Verus Mortgage Capital Moves Correspondent Operation to New Office Space

Apr 15, 2018
First Merchants Corp., the Muncie, Ind.-based holding company for First Merchants Bank, has reached a settlement agreement with the U.S. Department of Justice (DOJ)

Verus Mortgage Capital (VMC) has announced that it has moved its Minneapolis operations group. VMC’s new space is approximately four times larger than its previous location with the opportunity to expand its square footage in the future.
 
The move was a direct result of the growth VMC has experienced since its inception in 2015, doubling in volume every six to nine months. Within the first quarter of 2018 alone, it purchased approximately $400 million in non-agency mortgage loans. VMC doubled its workforce in the last year as it continues to build out its operations.
 
While the firm’s headquarters is located in Washington, D.C., it continues to base its operations group in Minneapolis to take advantage of the city’s experienced mortgage talent.
 
“Rapid growth in the non-QM business has forced us to move to a new location that could accommodate our future expansion,” said Dane Smith, President of VMC. “Our goal is to remain the premier correspondent investor for expanded non-agency and investor loans by providing originators with the most comprehensive suite of products and exceptional customer service.”

 
About the author
NationalMortgageProfessional.com
Link copied
Published
Apr 15, 2018
Get the NMP Daily
Home Equity
Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Continue reading
Analysis and Data
Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026