May 16, 2021

MP Now News

Mortgage News

Commerce Home Mortgage’s Wholesale Division Has a New Name: Change Wholesale

IRVINE, California – () – The Change Company, America’s Community Development Financial Institution (CDFI), and its mortgage bank subsidiary Change Home Mortgage (the “Company”) today announced that the company’s wholesale division has been renamed Change Wholesale.

Ted Ray, President of Change Home Mortgage, said, “This rebranding marks an important milestone as we focus our resources on scaling Change Wholesale. Our wholesale partners can take advantage of Change Wholesale’s proprietary loan programs – including our community mortgage – and technology to finance world-class borrowers that their competitors cannot. As a CDFI in America, we are a corporate lender that enables our broker partners to grow their business by serving different borrowers with different needs. ”

Change Wholesale also announced the launch of its new website (https://ChangeWholesale.com/) and social media sites on LinkedIn, Twitter and Instagram. Change Wholesale will continue to be operated by its existing management team.

Denis Kelly, the company’s chief wholesale officer, added, “It is time to transform the mortgage wholesale business to work better for the brokers, loan officers and borrowers they serve. Change Wholesale has successfully emerged as the dominant originator of residential real estate mortgage loans to prime borrowers that are not well served by banks and traditional lenders. Our new name reflects our goal of positively transforming home loans by using Change’s proprietary products to serve world-class borrowers who others cannot. With Change Wholesale’s proprietary products, technologies and platforms, our broker partners can close more loans and close them faster. ”

Change Wholesale is investment grade and certified by the US Treasury Department to serve borrowers and communities with black, Latin American and low income loans. As a CDFI, Change Wholesale loans are eligible for CRA loans and are subject to certain regulatory exemptions, including those relating to Regulation Z and risk tie requirements.

About the Change Company

The Change Company empowers homeowners, small businesses, and consumers to realize their American dreams by bringing social and racial justice to banking and credit. The Change Company team has built companies that have loaned US consumers and businesses more than $ 50 billion, served more than 250,000 borrowers, and provided financial services directly or through partnership to over 2 million Americans.

For more informations: http://www.ChangeLLC.com/

About Change Wholesale

Change Wholesale is the wholesale division of Change Home Mortgage, a residential real estate mortgage lender that has been certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury Department, enabling it to offer proprietary mortgage options to prime borrowers that others cannot fund. Change Wholesale is approved by Fannie Mae, Freddie Mac, and Ginnie Mae as vendors / servicers and is an approved lender for FHA, USDA, HUD, and VA.

For more informations: http://www.ChangeWholesale.com/

About Change Home Mortgage

Change Home Mortgage is a residential real estate lender approved by Fannie Mae, Freddie Mac and Ginnie Mae as a direct seller and servicer. Change Home Mortgage is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI), which enables it to offer proprietary mortgage options to prime borrowers that others cannot fund. Change works through its direct retail, wholesale, and community channels. The wholesale channel operates under the name Change Wholesale.

For more informations: http://www.ChangeMtg.com/