Homestar Financial announced plans to suspend its retail operations, citing intense market volatility and extreme margin compression in the mortgage industry. To survive in today’s rapidly changing and highly competitive market, many lenders need to be agile and poised for change. With the current obstacles facing the mortgage industry, Homestar Financial chose to do what it believed was best and focus on its service-oriented clients in mortgage origination, secondary marketing services, and correspondent lending services.
This decision may come as a surprise but the lender will continue to offer services to its commercial clients, which will include purchase origination, bulk loan buying, and loan servicing. As a service-oriented lender, Homestar Financial believes that by making this strategic move, they can better serve their clients and experience future growth. The company states that their services remain unchanged and that they will continue to place value on their client relationships and provide a quality experience.
Key Points:
• Homestar Financial announced plans to suspend retail operations
• Company will focus on service-oriented clients in mortgage origination, secondary marketing services, and correspondent lending services
• Still will offer services to commercial clients such as purchase origination, bulk loan buying, and loan servicing
• Belief that this strategic move will allow Homestar Financial to better serve clients and experience future growth
You can read this full article at: https://www.housingwire.com/articles/homestar-financial-corp-to-cease-retail-operations/(subscription required)
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