USA Wholesale Lending announced the company is expanding by gaining new licenses, pushing its reach to 20 states total.
The Fort Wayne, Ind.-based company was created to compliment the retail efforts of Hallmark Home Mortgage and focus on wholesale lending. The company's new licenses will add more western states such as Washington, Oregon and Idaho.
Howard Hoyt, president of USA Wholesale Lending, said, "When I came on, we had 11 states, primarily described as the Great Lake states. Part of my objectives in the initial role out was to get us into some geographical areas and states that would give us higher loan balances."
With the new expansion, Hoyt said USA Wholesale Lending wants to get past the common obstacles brokers experience in closing deals within 30 days.
"If we can provide service levels that close those deals in 30 days or less we’re going to retain a lot of business” and that carries into getting customers into the door, Hoyt said.