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Gold Star Wholesale is streamlining and automating its third-party originator (TPO) onboarding course of by partnering with counterparty danger and oversight platform supplier Loanscape.
Phoenix, Arizona-based Loanscape’s customizable questionnaires and doc requests will enable Gold Star to automate as much as 80 % of the workflow when onboarding mortgage brokers and correspondent lenders, the businesses mentioned Monday.
Pramod Kollamparambil
“Gold Star Wholesale is a visionary in the mortgage industry, and we are excited to support their mission of providing the best end-to-end experience for brokers,” Loanscape co-founder Pramod Kollamparambil mentioned in a statement. “By leveraging our platform, Gold Star can now onboard counterparties faster, safer and more efficiently than ever before. We look forward to a long and fruitful partnership that will redefine the standards of excellence in wholesale lending.”
A former Goldman Sachs analyst, Kollamparambil co-founded Loanscape in 2022 with mortgage dealer Evan Einhorn, proprietor of Scottsdale, Arizona-based Modern Home Lending.
Loanscape touts real-time analytics for optimizing TPO relationships and integrations with programs like Hubspot, Salesforce, Google Drive, OneDrive, Sharepoint and Dropbox. In a January product launch announcement, the corporate claimed the platform’s potential to unify communication channels eliminates fragmented back-and-forth, whereas centralized danger monitoring and alerts lower down on redundancies.
Gold Star Wholesale is the wholesale and correspondent lending division of Ann Arbor, Michigan-based Gold Star Mortgage Financial Group, which is licensed in 43 states and Washington D.C. — all over the place however Alaska, New York, Vermont, New Hampshire, Massachusetts, Rhode Island and Wyoming.
Christian Butterfield
“We are thrilled to partner with Loanscape and take advantage of their platform,” mentioned Gold Star Wholesale govt Christian Butterfield in a press release. “Loanscape’s technology aligns perfectly with our commitment to providing an exceptional experience for our TPO partners. We’re excited to see all the changes Loanscape will bring to our channel.”
On the retail facet, Gold Star Mortgage Financial Group employs 188 mortgage loan originators figuring out of 35 branch locations in 16 states, based on information maintained by the Nationwide Mortgage Licensing System and Registry. The lender’s offerings include typical, jumbo, FHA, VA and USDA loans, apartment financing and reverse mortgages.
Gold Star’s opponents within the wholesale lending business embrace the nation’s largest supplier of home loans, United Wholesale Mortgage (UWM) and Rocket Pro TPO, Rocket Mortgage’s wholesale and non-delegated correspondent lending channel.
Last month, Fairway Independent Mortgage Corp. announced that it was closing down its wholesale mortgage division and “pivoting the company’s business model to 100 percent retail originations.”
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