Madison, Wisconsin-based Fairway Independent Mortgage Corp. announced it will be closing its wholesale division.
The final lock date on new loans is scheduled for Feb. 9 and the last day to submit new loans is Feb. 16, with brokered loans required to be closed by March 15.
“The people who have run Fairway’s Wholesale Department are some of the most talented, humble people in the business and will be a huge value add at their next mortgage home,” Fairway CEO and Founder Steve Jacobson said in a statement. “We want to thank our entire amazing Wholesale team for its dedication and professionalism over the years. ”
Fairway will be concentrating on the retail side of the mortgage space, with Jacobson adding the division’s closure was a result of “simply making a business shift, nothing more, nothing less, in order to focus on our core business to ensure that we continue providing the best customer experience going forward.”