Castle Mortgage Corporation and American Mortgage Network ("AmNet") today announced that its Correspondent Purchase Program is operational in 24 states. The company is adding this delegated underwriting Correspondent Program as part of its strategy to complement its non-delegated program (mini-correspondent) and wholesale broker channel.

A subsidiary of Bexil American Mortgage, Castle Mortgage and AmNet originate and service loans for Ginnie Mae, Freddie Mac and Fannie Mae. It currently services over $450 million in mortgages for borrowers in 24 states.

"As we open our Correspondent Purchase Program to the market, we bring that same passion of pricing and service to a broader customer base," said Mr. Alex B. Rozek, Executive Chairman of Bexil American Mortgage. Mr. Rozek continued, "Our deep experience gives us the ability to offer direct trade, enabling a traditional best efforts correspondent to enter the mandatory market with less than typical risk."

"We believe that offering multiple delivery options with multiple delivery executions fill a gap in the marketplace, allowing us to be a focused correspondent lender," said Mr. George Hawkins, President of Bexil American Mortgage and Castle Mortgage. "Our full service correspondent program offers best efforts delivery, mandatory delivery and both small and large bulk package sales included in the delivery programs," noted Mr. Hawkins.

Program benefits include:

  • Accessible staff
  • A commitment to technology
  • Consistent and aggressive pricing on the products you need the most
  • Direct trades with multiple delivery options to fit your business model
  • Quick turn-times. A nationally known fulfillment company will coordinate loan review to assure consistent time frames for analysis of loans, regardless of volume levels

To apply, visit www.castlecorrespondent.com

or call 1-800-578-3608. Our experienced mortgage professionals can provide you with the price and service to help your mortgage business grow.

About Castle Mortgage Corporation

Since 1986, Castle Mortgage Corporation (www.castlemortgage.com) has provided first class price and service to its clients in the residential mortgage business. Today, Castle is originating, pooling, securitizing, and servicing residential mortgages in 24 states and is a seller and servicer with Fannie Mae, Freddie Mac, and Ginnie Mae. Castle Mortgage does business under the name American Mortgage Network in California, Washington and Oregon and Bexil American Mortgage in Massachusetts. In 2012 Castle Mortgage was acquired by Bexil American Mortgage, a subsidiary of Bexil Corporation, (BXLC) a holding company engaged through subsidiaries in investment management, securities trading, and mortgage banking. To learn more, please visit: www.bexil.com.

Forti Communications, Inc.
Corinne Forti
1-805-368-8665
Corinne.Forti@BexilAmerican.com
or
Castle Mortgage Corporation
American Mortgage Network
George Hawkins
President
1-205-380-7001
George.Hawkins@CastleMortgage.com