SAN RAMON, Calif. - IMX Exchange announced Thursday that four more lenders - First Consolidated Mortgage Co., Fremont Bank, NoRedTape.com, and Union Planters PMAC - had been added to its nationwide online lending network.
The additions are meant to attract brokers to IMX who prefer to do business with nearby lenders. First Consolidated is based in Dallas, Fremont and NoRedTape.com in California, and Union Planters in Memphis. "Our focus now is on reinforcing that network by building membership among the strongest regional lenders," said Richard Wilkes, president and chief executive officer of IMX. "We are excited to add to the list of top-niche lenders already trading on the exchange."
IMX links mortgage brokers and lenders in an online "trading community." Its more than 10,000 originator members represent over 2,300 brokerages in 47 states. "Our goal is to build the largest, most efficient liquid market for the wholesale mortgage channel," Mr. Wilkes said.