Virgin Plans Broad U.S. Mortgage Financing

The United Kingdom-based Virgin Group, in a strategy built on its recent acquisition of the Marlborough, Mass.-based Lendia, is set to provide mortgage financing on a broad basis in the United States for the first time through an innovative program. Virgin Money, Waltham, Mass., plans to provide wholesale mortgage financing to brokers as well as offer automation and outsourcing services that can be purchased separately or in tandem with the funding, Greg O'Connor, executive vice president and general manager of Virgin Money USA Inc., told MortgageWire. Some lending has previously been done in the Waltham area, but this is the first time Virgin is making it available on a wider geographic scale. The company is licensed to lend in 23 states and says it plans to expand further. Virgin Money USA can be found on the Web at http://www.virginmoneyus.com/mortgage.