Bank of Internet Launches Jumbo, Super Jumbo Origination Platform
Bank of Internet USA, the wholly-owned subsidiary of BofI Holding (BOFI), launched a jumbo and super jumbo ($1m+) portfolio loan program in California. The lender will offer jumbo and super jumbo mortgages through its correspondent lenders and wholesale broker channels. BofI plans to portfolio the jumbo mortgages originated through the program. As part of its effort to serve the jumbo and super jumbo market, Bank of Internet added industry veteran Jerry Konzen to head up the new program. Konzen previously worked for now-bankrupt Thornburg Mortgage. He will oversee Bank of Internet's jumbo and super jumbo platform. "We offer a concierge level of service to brokers, correspondents and their customers," Konzen said in a statement. "We provide customers with highly customized portfolio financing solutions." BofI tapped several additional ex-Thornburg players to fill out the jumbo/super jumbo team. Mindy Lambdin and Elen Callen joined Bank of Internet as account executives. Leigh Porter, former Thornburg vice president of underwriting, also joined the company. Write to Diana Golobay. Disclosure: the author holds no relevant investments.