Texas Mortgage Banker Expanding Into Southeast

The Lending Partners, a Texas-based non-bank lender, is expanding into the southeast market and has hired a regional sales manager to accomplish the goal. Currently the mortgage banker, which has focused mostly on the North Texas market, is operating at a run-rate of $60 million a month. Once its southeastern expansion is complete it hopes to be funding $100 million a month. Luke Strawn, vice president of business development for the lender, said TLP depends on warehouse lines of credit for funding. He said it's a "daily struggle" managing its warehouse needs but the firm is using several small Texas banks as participants. To expand into southeastern states such as Arkansas, Georgia, Kentucky, Mississippi, and Tennessee TLP hired Jared M. Ward as regional sales manager. The company relies on joint ventures with Realtors and builders.