Homestead Mortgage, Arden Hills, Minn., has reported that it will close its wholesale division, informing its brokers that all loans for which it has commitments must fund by Oct. 5.Notice of the shutdown was posted on the Grapevine, a feature of the National Mortgage News website. Bill Schwietz, an officer at Homestead, posted his telephone number on the Grapevine but had not returned telephone calls about the matter as of MortgageWire's deadline. No information was available on Homestead's loan volumes. The company can be found on the Web at http://www.homesteadmortgage.com.
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