MReport May 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 45 S E C O N DA R Y M A R K E T ORIGINATION O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T LOCAL EDITION A Realignment for TIAA THE BANK PLANS TO SHIFT FOCUS TOWARD MORE HOME MORTGAGE LOAN ORIGINATIONS. FLORIDA // As part of its initia- tive to serve an even wider audi- ence of clients nationwide, TIAA Bank announced the strategic realignment of its residential home lending business. The bank aims to transition out of the retail branch home lending business to concentrate on originating home mortgage loans directly, particularly through its existing digital capabilities that provide an exceptional client experience. TIAA Bank has reached an agreement with U.S. Bank allow- ing it to extend offers of employ- ment to a number of experienced TIAA Bank staff and assume certain leases on TIAA Bank's retail home lending offices in key markets across the United States. As it shifts its focus on serving clients using its existing retail- direct and correspondent lending businesses, TIAA Bank stated that it will exit the remainder of its retail branch home lending offices. "This repositioning will allow us to serve a wider audience of clients nationwide, including mil- lions of TIAA participants and their families, through our retail direct and correspondent lending channels," said Blake Wilson, Chairman and CEO at TIAA Bank. Wilson pointed out that today's borrowers need fast, con- venient, and cost-effective solu- tions. "The changes we're making will enable us to deliver mortgage solutions to even more people, using digital technologies that enable clients to work with us efficiently and easily, anywhere, and at any time," he added. As the banking unit of TIAA, a provider of financial services to the not-for-profit sector, TIAA Bank also serves nearly five mil- lion TIAA participants and their families, and more than 15,000 non-profit institutions. Even as it gears for repositioning its strategies, the bank's loan offi- cers will continue to provide indi- vidual services to its clients with pending home mortgage loans or applications in process. TIAA Bank assured that clients with home mortgage loans serviced by the bank will not be impacted by the changes. Castle & Cooke Mortgage Expands Operations THE MORTGAGE COMPANY ADDED A THIRD LOCATION IN THE MAGNOLIA STATE. MISSISSIPPI // Castle & Cooke Mortgage has announced the addition of one more location for its operations. The company said that it had expanded its opera- tions to Batesville, Mississippi, with a new office in that area. This is its third branch in Mississippi and will be led by Katy White, the lender said. "The Batesville branch is lucky to have Katy as part of their team, and I'm excited to see them grow and expand to help Mississippi borrowers," said Adam Thorpe, CEO of Castle & Cooke Mortgage. White has been a loan officer in the business for over three years. In her free time, she loves working in the yard, reading a good book, and playing with her three dogs. "I am here to help homebuyers evaluate their current financial situations and future goals to identify loan programs that best fit their individual needs," White said. "Whether clients are in need of a loan for a new purchase or for refinancing their current mortgage, I look forward to put- ting my expertise to work for them." Castle & Cooke Mortgage is an independent mortgage lender with locations across the United States. The company has over 300 employees and is founded on four core values—honesty, integrity, transparency, and reli- ability. Headquartered in Draper, Utah, the company ensures a smooth and efficient origination process, support for its sales force and customer service for borrow- ers. The company has also been recognized as a top employer. "The changes we're making will enable us to deliver mortgage solutions to even more people, using digital technologies that enable clients to work with us efficiently and easily, anywhere and at any time." —Blake Wilson, Chairman and CEO, TIAA Bank

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