ClearPoint Funding Moves Ahead with Wholesale Effort

January 15, 2010, 2:00 p.m. EST 1 Min Read

Former Lendia executive Greg O'Connor said he is moving forward with a U.S. mortgage wholesaler he bought from Richard Branson's Virgin Money unit. A few years back Mr. O'Connor actually sold the lender — then called Lendia — to the Branson unit and stayed on as an executive vice president. He plans to rebrand the mortgage lender 'ClearPoint Funding.' Mr. O'Connor said he could not comment on anything related to Virgin Money. A spokeswoman for Virgin, however, confirmed the sale back to Mr. O'Connor. No purchase price was disclosed.

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Originations

Rocket, Rithm and Dynex are BTIG's favorite mortgage stocks

BTIG is waiting with "baited breath" for Fannie Mae and Freddie Mac to relist their common stocks, but if spreads widen, it could derail it from happening.

By Brad Finkelstein

1h ago
Fixing what isn't broken: Why moving to a single-bureau credit report in mortgage underwriting is misguided and expensive

Dr. Amy Crews Cutts's new whitepaper uses comprehensive data and cost analysis to examine the current tri-merge requirement in mortgage credit reporting and challenges the idea that reducing the number of reports saves money.

Partner Insights from Equifax
Originations

Manufactured housing may get lending relief in defense bill

Manufactured housing could see eased lending rules if the defense bill removes the "permanent chassis" requirement, expanding FHA mortgage eligibility.

By Spencer Lee

2h ago
Housing markets

Demand builds for 2026 as home buyers wait for better prices

A recent Remax survey found 88% of respondents said they are "very" or "somewhat likely" to purchase a home next year.

By Colin McNamara

3h ago
Trump administration

CFPB's enforcement chief resigns, citing 'no path' forward

The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.

By Kate Berry

5h ago
Fannie Mae

GSE stock move stirs fears of advantage for big banks

Big players, Wall Street and tech firms stand to gain. Community lenders call for policymakers to protect g-fee parity and the cash window. Part 5 in a series.

By Bonnie Sinnock

11h ago