Mortgage lender First Guaranty Mortgage is expanding their wholesale division, focusing more on both vanilla and niche products.
The McLean,Va.-based company also promoted Jeffrey Gibson to the position of managing director of third-party origination flow, where he will oversee the new growth.
Previously, Gibson was the assistant vice president, correspondent division manager and is now overseeing the wholesale and correspondent lending activities. He brings 12 years of mortgage lending experience and joined First Guaranty five years ago.
"Our goal is to offer our broker partners more ways of serving their clients, including table funding and correspondent flow," said Gibson.
He added, "While there is a still a strong demand for niche products, which we will continue to meet, there is also a renewal in demand for basic, vanilla products. We will be dramatically expanding our involvement in those markets as well."
To aide in new growth, the company plans to bulk up their customer service and sale efforts at the local level.