Fairway Mortgage ends wholesale operations

Company said it's "simply making a business shift" to focus on retail originations

Fairway Mortgage ends wholesale operations

Fairway Independent Mortgage has announced that it is restructuring its wholesale mortgage department.

The Texas-based lender said it is shifting its business model to concentrate solely on retail mortgage originations, effectively discontinuing its wholesale operations.

“The people who have run Fairway’s wholesale department are some of the most talented, humble people in the business and will be a huge value add at their next mortgage home,” Fairway CEO Steve Jacobson said in the company’s media release. “We want to thank our entire amazing wholesale team for its dedication and professionalism over the years.”

Jacobson emphasized that the decision to pivot away from wholesale operations is a strategic alignment intended to bolster the company’s primary business.

Read next: Brokers describe their journey to the wholesale channel

“We are simply making a business shift, nothing more, nothing less, in order to focus on our core business to ensure that we continue providing the best customer experience going forward,” he explained.

Fairway has also been growing its reverse mortgage lending division. The company has added new specialists to its team of loan officers over recent months.

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