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Benchmark Mortgage shuts down Eleven Mortgage wholesale channel
HousingWire reports Benchmark said the move is meant to simplify operations and shift leadership, capital, and other resources to its retail mortgage lending business.
Benchmark Mortgage said it will wind down Eleven Mortgage, its wholesale and correspondent mortgage channel, as it concentrates on retail mortgage lending, according to HousingWire.
The lender framed the exit as a way to simplify operations and focus its leadership and capital on its retail business, with resources aligned to that part of the company, HousingWire reported.
HousingWire also noted that Benchmark acknowledged the decision’s impact on employees who built and supported the wholesale and correspondent division, saying their contributions are recognized and respected.