The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.
The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company announced Thursday. The change comes three years after The Loan Store acquired Homepoint’s wholesale origination business, a deal that substantially expanded its broker reach and helped set the stage for its growth.
When Inside Mortgage Finance announced the Homepoint deal in April 2023, The Loan Store did not appear among its 25 largest wholesale lenders. Homepoint, meanwhile, was the nation’s third-largest wholesale lender.
By the third quarter of 2025, The Loan Store had climbed to fourth among U.S. wholesale lenders, with $3.2 billion in quarterly volume and a 3.1% market share, according to Inside Mortgage Finance data. It trailed UWM, Rocket Mortgage, and Pennymac.
Full-year estimates from Inside Mortgage Finance subsequently put The Loan Store’s 2025 wholesale volume at about $12.5 billion, compared with roughly $161 billion for UWM, $35.9 billion for Rocket, and $20.5 billion for Pennymac.
Modex data reviewed by National Mortgage Professional also shows $12.53 billion in The Loan Store production over the report period, totaling 34,421 loans and averaging about $1.04 billion per month.
The company now describes itself as one of the four largest wholesale lenders in the U.S. and says the Averra name better reflects what the business has become.
“The Loan Store name got us here, but it no longer tells the whole story of who we are,” CEO Phil Shoemaker said. “Averra reflects a company that has grown into a national platform, one built on speed, product depth, and real partnership with the brokers who put their clients first. Our people, our pricing, and our commitment to the broker channel don't change. Our name does.”
From Homepoint Deal To National Scale
Homepoint agreed to sell certain assets of its wholesale origination channel to The Loan Store after funding $22.4 billion in wholesale loans in 2022, down from $69.45 billion the previous year. Roughly 100 Homepoint employees were expected to transition to The Loan Store, and Shoemaker, then Homepoint’s president of originations, became CEO of the acquiring company.
At the time, the companies described the transaction as a way for The Loan Store to scale into a leading national wholesale lender. The subsequent growth provides context for why management is now replacing a brand that predates that expansion.
Averra says it has also broadened beyond its conventional and government lending foundation, with a growing emphasis on Non-QM and home equity products.
The company reported that its Non-QM volume increased 68% fiscal year-to-date through August compared with the same period in 2025.
Its current product lineup includes several Non-QM programs, conventional, FHA, VA, and USDA loans, as well as second mortgages, and buy-before-you-sell products.
The expansion also includes a HELOC partnership with Aven that funded its first loan in May and Averra Advantage, an income-verification tool aimed at borrowers with complex or nontraditional income.
Modex data shows purchases account for the largest share of the company's recent production, with $8.23 billion in purchase volume, compared with $3.73 billion in refinances and $571.7 million categorized as home equity.
What Changes
For brokers already doing business with The Loan Store, the immediate answer is: primarily the name.
Averra said account executives, loan programs, pricing, approvals, and existing pipelines are unaffected by the rebrand. Loans already in process will continue toward closing, while employee email addresses are transitioning to the new Averra domain. Messages sent to legacy addresses will be forwarded for the next several months.
The company's new website also continues to position the lender specifically around the third-party origination channel, describing its offerings as exclusive to brokers and non-delegated lenders.
