Ruth Lee
Here comes the rain!!! Even if its starting as a sprinkle.
In these past months, with rates not as aggressive and seasonal dips in refinance and home purchase demand, there has definitely been mellowing in transactional volume. At the same time, there is not a day that goes by that I don’t hear of another company that has been around for 15-20 years giving up the fight for survival and closing their doors. In any case, all of these factors are freeing up capacity for warehouse lending in the small and mid-cap market. We have been very pleased with the response we are getting from community banks and private equity groups opening small lines – however, at the end of the crisis, it will be the health of our traditional warehouse lending partners that will define this next chapter of housing recovery.
Today, I am hearing from a number of our warehouse lending partners that their capacity is loosening. As such, we would encourage bankers looking for capacity to reach out to Southwest Securities – whom you can find on our partner’s page. I know for a fact that Mark Cheney and Steve Wojnar with SWST are definitely looking for clients in their respective markets – Mark in the north FL and GA markets… Steve in the Northeast… Southwest is a great company that really understands the market and hires accordingly. David Frase, the man behind the curtain – well maybe a little out in front of the curtain – well okay, he is the master of ceremonies but who’s counting…well he is just a smart cookie with a strong sense of the market…. David has stewarded his program through the meltdown with foresight and agility. A long term partner imo.
September 16th, 2009 at 11:32 am
[...] admin wrote an interesting post today onWarehouse Lending Update – Active Warehouse Lines at Southwest <b>…</b>Here’s a quick excerpt [...]