Carrington Mortgage Services is ready to launch its wholesale loan production channel now that the Santa Ana, Calif.-based company has completed its purchase of American Home Equity Corp. Terms of the deal were not disclosed.
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AHE originated over $1 billion in the last two years; it is an agency, government and nonconforming loan originator. Its president, Alan Pott, as well as 40 people from AHE with experience in the wholesale business, are making the move to Carrington.
Steve Patton, executive vice president of mortgage lending at Carrington, said AHE provides his company "with an immediate proven foundation to launch our wholesale origination model on a nationwide basis.”
