Real Estate Mortgage Network launched the start of HomeBridge Correspondent in Irvine, Calif., at the beginning of April, the company said.
HomeBridge focuses on correspondent lending for credit unions, community banks and the larger-tier mortgage bankers as well as national builders.
"We are a little bit unique on a favorable note in that we're not a new company. We are just a new division of an existing and viable company," said Bela Donine, managing director for HomeBridge Correspondent.
Additionally, HomeBridge Correspondent is not interested in soliciting or cross selling to credit union members or any of thier Community Bank’s customers, Donine noted.
She added, "The launch in April was awesome because we had a dozen plus sellers approved and that is why we started getting loans in the door immediately."