Western Bancorp Announces Launch of Correspondent Lending Division

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Mortgage lender launches non-delegated correspondent channel for qualified brokers.

As many U.S. banks exit wholesale lending, Western Bancorp remains focused on the growth and continued success of its wholesale partners.

Wholesale Lender Western Bancorp today announced the launch of its non-delegated correspondent lending division. The new division is led by Joe McKone, VP of Correspondent Lending, and Sharon Bitz, SVP Wholesale Lending. The Correspondent division is supported by staff based in San Jose and Rancho Cordova, CA and is fully operational.

As many U.S. banks exit wholesale lending, Western Bancorp remains focused on the growth and continued success of its wholesale partners. As part of this initiative, the company is set to assist mortgage brokers who want to take the next step in their business growth in becoming Mortgage Bankers.

Western Bancorp's Correspondent Program includes training for brokers on how to secure a warehouse line and manage transactions with its proprietary LMS Xpress mortgage platform. The program also provides access to vendors and coaching on file flow, internal and external communications, regulatory risk management and more.

The company’s proprietary loan management system, LMS Xpress, was recently launched for use by mortgage brokers and will also support the Correspondent Lending channel.

“To me, the most important aspect of the program is the potential for brokers to step up production while controlling risk and remaining compliant, said Joe McKone. “We consider it a roadmap to success that helps brokers build sound business practices with hands-on guidance through the entire process. We think it’s a valuable opportunity for successful brokers who want to be even more successful in the future.”

“The goal is to enable our wholesale partners to increase production, have more control over their transactions and close loans in their own name.” said Sharon Bitz. “Prior loan approval helps ensure files are purchased with no last-minute issues.”

About Western Bancorp

Western Bancorp is a San Jose based mortgage company serving the wholesale lending community in the Western U.S. Western Bancorp includes wholesale and correspondent lending divisions and also develops loan management automation technology (LMS Xpress).

Western Bancorp offers a large selection of loan products, including Fixed-Rate Mortgages, Adjustable Rate Mortgages (ARMs), Jumbo loans and more at competitive rates. The company began with the goal of creating a better loan source for California borrowers and continues that goal in expanding into Western states including Washington, Oregon, New Mexico, Colorado, Arizona, Idaho, Nevada and Utah.

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Charles Warnock
Western Bancorp
+1 (408) 440-4025
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