Caliber Funding to Introduce Correspondent Lending Channel at MBA Secondary
Market Conference & Expo in New York
DALLAS, May 6, 2013
DALLAS, May 6, 2013 /PRNewswire/ --Caliber Funding, LLC ("Caliber"), a
leading national retail, wholesale and consumer direct mortgage lender, today
announced that it will take part in the Mortgage Bankers Association's
Secondary Market Conference & Expo starting May 5, 2013, to be held at the
Marriott Marquis hotel in New York City. At the conference, Caliber will
introduce its new correspondent lending channel, which will expand its
production capacity and allow it to provide more competitive product offerings
As previously announced, on January 17, 2013, Caliber and Vericrest Financial
entered into a merger agreement. Caliber's entry into the correspondent
lending channel supports the combined company's goal to create a full-service,
consumer-focused residential mortgage banking organization offering both loan
origination and loan servicing solutions.
Caliber's new correspondent lending channel will enable the Company to
leverage its state-of-the-art technology to provide multiple product offerings
and excellent customer service to an even broader customer base. Caliber is
also investing in two fulfillment centers in Florence, South Carolina and
Irving, Texas to ensure efficient and exemplary customer service for its
partners and customers.
"The departure of several large correspondent investors left a significant
void in supply, and therefore there is a tremendous opportunity for
independent mortgage lenders like Caliber," said Jim Ferriter, President of
Caliber. "As an agency-approved lender, Caliber is not only well positioned
to meet this demand, but is also able to play a role in the revitalization of
the secondary market. We brought in a team of top-notch professionals to build
this new service offering, and we look forward to a successful and seamless
"The team we brought on to lead our correspondent channel is exceptionally
talented and experienced. I would like to thank them for their hard work and
dedication to making this launch possible," said Joe Anderson, Chief Executive
Officer of Vericrest Financial. As previously announced, Mr. Anderson will
assume the role of Chairman and Chief Executive Officer of the combined
The correspondent lending team will be led by:
oPatricia Shumate, Senior Vice President of Correspondent Lending. Ms.
Shumate joins Caliber with over 20 years of correspondent lending
experience. Previously, Ms. Shumate was Managing Director at Private
National Mortgage Acceptance Company (PNMAC) where she played an
instrumental role in the creation of PNMAC's correspondent lending
oTag Gallaher, Vice President of Correspondent Operations. Mr. Gallaher
joins Caliber with over 12 years of correspondent operations experience.
Mr. Gallaher was previously with Lender Processing Services (LPS) as the
Senior Vice President of Strategic Consulting Services.
oPat Gilmore, Vice President of Correspondent Sales. Mr. Gilmore has over
24 years of mortgage experience, including 12 years in sales and 9 years
in sales management.
About Caliber Funding
Caliber Funding LLC is a national residential mortgage lender that originates
loans through various channels and transaction types including a network of
retail branches, wholesale lending, correspondent & mini-correspondent
lending, and a consumer direct centralized operational center. Caliber was
founded in 2008 by Lone Star Funds, a global private equity fund and
specializes in a variety of loan programs for purchases and refinances
including conforming, jumbo, and government products. Headquartered in
Dallas, TX, Caliber now originates an average of $750 million each month and
anticipates continued rapid growth in the coming months and years. Caliber
employs over 1240 mortgage lending professionals nationwide inclusive of over
330 loan originators in 88 retail branches, 68 Wholesale Account Executives
serving over 1000 active broker partners, and 8 Correspondent Sales
Directors. To learn more about Caliber Funding, please visit
www.caliberfunding.com. (NMLS # 80636).
SOURCE Caliber Funding, LLC
Contact: Joele Frank, Wilkinson Brimmer Katcher, Jed Repko, Alex Sowinski, Eve
Press spacebar to pause and continue. Press esc to stop.