Guaranty Now Selling Wholesale Ops

A year after shedding its nonbank retail branches, Guaranty Residential Lending, Austin, Texas, is now lopping off its wholesale network as well.The company, owned by Temple-Inland, announced late Tuesday that it would sell its wholesale operation and offer mortgages only through its bank affiliate and what it calls its "restructured correspondent networks." A Temple-Inland spokesman could not be reached for comment by MortgageWire's deadline. GRL and its affiliate depository, Guaranty Bank, no longer report production numbers to National Mortgage News. At one time, about 45% of its total production was sourced through loan brokers. In 2004 GRL ranked 69th among all residential funders, according to the Mortgage Industry Directory. (See the Dec. 5 issue of NMN for the full story.)