Titan Lenders Corp Signs Eight Mortgage Lenders in First Half 2011, Including National Bank, Correspondents and Broker-to-Bankers (August 2, 2011)

August 2, 2011 – Denver, CO Titan Lenders Corp (TLC) added eight new mortgage lender clients in the first half of 2011, including a national bank, correspondent lenders and broker-to-bankers. TLC, a U.S.-based domestic mortgage fulfillment outsource operation, offers a parallel and variable cost alternative solution to lenders that need to maintain correspondent back office and warehouse line management operations.

"Overall business growth in the first half of 2011 was stagnant due to myriad changes thrust upon the industry," said TLC founder and president Mary Kladde. "LO compensation, plus other regulatory overlays, stifled the market in the first half of the year. Now that the dust has settled, we are seeing renewed interest in the broker-to-banker model. Additionally, correspondent lending has begun to accelerate and community banks are also vying for a leadership role as well, by absorbing market share through acquisitions of mortgage lending operations."

In short, she explains, there are many mortgage lender business models jockeying to add competition to a Big Bank-dominated market place through innovation and common sense operations strategies.

TLC’s newest clients include Illinois-based MIE Financial Inc. and Lincoln Mortgage and Funding Corp.; Maryland-based Bayshore Mortgage Funding; Texas-based NDFC Capital Corp.; Florida-based Bankers Choice Mortgage Corp. and Advanced Mortgage Planners; Virginia-based Dominion Capital Mortgage; and New Jersey-based Fort Lee Federal Savings Bank.

According to Kladde, Illinois-based correspondent lender MIE Financial is an example of adaptation to the new realities of mortgage lending.

"Outsourcing our back office operation has been key to securing MIE’s status as a correspondent lender," said MIE Financial owner Igor Velyunskiy. "On the front end, we originate through a popular LOS that manages our pipeline. When it comes to closing and selling MIE-originated loans, that’s where Titan makes all the difference."

"Reputation is what makes a mortgage lending business viable," he explained. “That is why it was very important to me personally that MIE Financial be able to serve its customers, then close their loans in its own name. Working with Titan Lenders Corp. has been a strategic element of our correspondent lending business model."

MIE Financial operates largely as a one-person mortgage banking business, Velyunskiy said.

Titan Lenders Corp.'s patented, proprietary web-based software Cerberyx (CBX) supports a full suite of mortgage fulfillment services, including: funding, compliance, closing, post-closing, purchase review for correspondents and warehouse lenders, trailing documents, MERs management, FHA insuring, and document management (imaging). CBX’s flexible rules-based architecture allows TLC clients to define field level decision trees, priorities, checklists and process management specific to an investor product variance or a cross-investor climate.

About Titan Lenders Corp

Titan Lenders Corp (www.TitanLendersCorp.com) is one of a specialized few providers of mortgage back office fulfillment services, a not-well-understood facet of mortgage lending that includes closing, funding, and post closing services. Community banks, credit unions, mortgage bankers and brokers, and warehouse line lenders use outsource providers strategically to minimize compliance risks in a time-sensitive error-averse environment. Fluctuations in mortgage lending volume also lead some mortgage lenders to outsource their entire back office operation and secure predictable "per transaction" pricing rather than maintaining an inflexible static in house staff.

TLC is a preferred provider for some of the nation's largest mortgage bankers and warehouse lenders.

Media Contact:

Kerri S. Milam
DepthPR
Kerri@DepthPR.com
404.378.0850

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Titan Lenders Corp Signs Eight Mortgage Lenders in First Half 2011, Including National Bank, Correspondents and Broker-to-Bankers (August 2, 2011)

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