Rumson, N.J.-based Rossbach Porter Consulting says it is expanding its focus on the warehouse lending business by helping match mortgage bankers with warehouse providers.
‘While warehouse lines have become much harder to obtain for small to midsized correspondent lenders, in many cases, it is an issue of fit,’ says Bruce Porter, managing partner of the firm. ‘There are still warehouse providers out there looking for business, including some that cater to mortgage bankers with a net worth less than $500,000. Each warehouse lender is targeting specific risk profiles.’
Rossbach Porter says it works strategically with the correspondents to match their objectives and risk profile with the appropriate warehouse lenders. Rossbach Porter selects warehouse providers to approach and, working with the correspondent, develops a financial package and business overview that are used to obtain warehouse financing bids. Rossbach Porter assists its clients in negotiating terms, evaluating the deal points of each bid.
SOURCE: Rossbach Porter Consulting