SAN RAMON, Calif - First Horizon Home Loan Corp., the Irving, Tex., mortgage subsidiary of Memphis-based First Tennessee National Corp., said it will trade loans on IMX Exchange, an online electronic marketplace for whole loans.
A press release said the move is in one of several new channels that First Horizon, formerly known as First Tennessee Mortgage Cos., is using to increase production and increase business under its new brand name. First Horizon plans to trade Fannie Mae Alt "A," government (FHA/VA), intermediate adjustable-rate mortgages, jumbo fixed mortgages, and other mortgage products on the exchange.
"Joining the IMX Exchange network allows us to take advantage of today's technology to increase our production and continue our trend growth," said a statement by Jerry Baker, president of the mortgage banking group at First Horizon. "IMX Exchange should be an excellent partner for increasing our presence in the online marketplace."