Commerce Home Mortgage’s Wholesale Division Has a New Name: Change Wholesale
IRVINE, Calif.–(BUSINESS WIRE)–#banking–The Change Company, America’s Community Development Financial Institution (CDFI), and its mortgage banking subsidiary Change Home Mortgage (the “Company”) announced today the rebranding of the Company’s wholesale division to Change Wholesale.
Ted Ray, President of Change Home Mortgage, said, “This rebranding represents an important milestone as we focus our resources on scaling Change Wholesale. Our wholesale partners are able to benefit from Change Wholesale’s proprietary loan programs – including our Community Mortgage – and technology to finance prime borrowers their competitors can’t. As America’s CDFI, we are a mission-driven lender who enables our broker partners to grow their businesses by serving diverse borrowers with diverse 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’s time to change the wholesale mortgage business to work better for the brokers, the loan officers, and the borrowers they serve. Change Wholesale has successfully emerged as the dominant originator of residential mortgage loans to prime borrowers who are not well served by banks and traditional lenders. Our new name reflects our goal of bringing positive change to home lending by using Change’s proprietary products to serve prime borrowers that others cannot. Change Wholesale’s proprietary products, technology, and platform allow our broker partners to close more loans and to close them faster.”
Change Wholesale maintains an investment grade credit rating and is certified by the United States Department of the Treasury to serve Black, Latino, and low-income borrowers and communities. As a CDFI, loans originated by Change Wholesale are eligible for CRA credit and enjoy certain regulatory exemptions including relating to Regulation Z and risk retention requirements.
About The Change Company
The Change Company empowers homeowners, small businesses, and consumers to pursue their American dreams by bringing social and racial equity to banking and lending. The Change Company team has built businesses that have lent American consumers and businesses over $50 billion dollars, served 250,000+ borrowers, and provided financial services, directly or through partnerships, to over 2 million Americans.
For more information: http://www.ChangeLLC.com/
About Change Wholesale
Change Wholesale is the wholesale division of Change Home Mortgage, a residential mortgage lender certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI) allowing it to offer proprietary mortgage options for prime borrowers others can’t finance. Change Wholesale is approved as a seller/servicer by Fannie Mae, Freddie Mac, and Ginnie Mae and is an approved lender for FHA, USDA, HUD, and VA.
For more information: http://www.ChangeWholesale.com/
About Change Home Mortgage
Change Home Mortgage is a residential mortgage lender approved as a direct seller and servicer by Fannie Mae, Freddie Mac, and Ginnie Mae. Change Home Mortgage is certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI) allowing it to offer proprietary mortgage options for prime borrowers others can’t finance. Change operates through its retail, wholesale, and community direct channels. Its wholesale channel operates under the name Change Wholesale.
For more information: http://www.ChangeMtg.com/