EverBank exits wholesale, will focus on other lending channels
EverBank Financial Corp. (EVER) announced it is ending its wholesale broker home lending business.
Instead, the mortgage firm is choosing to focus on its retail lending offices and consumer-direct and correspondent lending channels.
"As the housing market recovers and the competitive and regulatory landscape of the residential mortgage industry evolves, we believe now is the time for EverBank to focus on growth opportunities in our retail, direct and correspondent lending businesses," said Robert Clements, EverBank's chairman and CEO.
The company will close its wholesale lending regional operations centers in Dallas, Sacramento, Calif. and Jacksonville, Fla. and will cut approximately 150 positions nationwide due to the changes.