Oak Street Opens Correspondent Channel

Oak Street Mortgage LLC, Carmel, Ind., has announced the launch of Oak Street Mortgage Correspondent Lending, which will be targeted at midsize mortgage originators who sell into the secondary market.The business will handle a broad line of products, including first and second mortgage loans, for purchase, refinance, cash-out, and debt consolidation, the company said. "This is a logical next step for Oak Street Mortgage," said Steve Alonso, the company's chairman and chief executive officer. "We've organized a team of mortgage professionals for this business that has great experience as mortgage investors." Oak Street now has three channels -- retail, wholesale, and correspondent. The correspondent channel, headed by Ed Waller, will be housed in the wholesale division and will be managed from Overland Park, Kan., a suburb of Kansas City. The company can be found online at http://www.osloans.com.