Titan Launches Warehouse Effort

Titan Lenders Corp., Denver, has launched a warehouse lending operations service platform to facilitate community bank and credit union entry into warehouse lending, a sector that is badly in need of liquidity. Titan said the platform will help depositories sustain a prudent level of due diligence, compliance and profitability when offering bridge financing to non-depository mortgage bankers. Mary Kladde, president of Titan, has been outspoken in the need for an increase in the availability of warehouse funds, even going as far as calling for the government to use Troubled Asset Rescue Program money for this purpose. (The Mortgage Bankers Association has done the same.) Titan will provide back-office outsourcing services on a per transaction basis. "Regional banks, community banks and credit unions could be great resources for local mortgage bankers that have lost, are in risk of losing, or need to increase the capacity of their warehouse line, at a time when purchase and refinance activity is picking up," said Ms. Kladde.