Franklin-based entrepreneur Chuck McDowell announced the launch of mortgage lending companyWesley Mortgage, LLC.
Ed Wallace, who has 43 years of experience in mortgage banking, will serve as president of the new venture.
As part of its launch and focus on Tennessee as an initial key market, Wesley Mortgage has signed on as the exclusive mortgage company of the Tennessee Titans. This partnership will allow the company to engage with and provide support back into the community in which it was founded.
The company joins Wesley Financial Group, LLC (WFG), Wesley Credit Repair LLC and the recently launched Wesley Insurance, LLC as part of McDowell’s portfolio, all based in Middle Tennessee. Wesley Mortgage will focus on maximizing technology to create a streamlined approach to mortgage lending.
“We’ve built a brand under the Wesley umbrella that is synonymous with helping consumers and Wesley Mortgage is a natural extension,” McDowell said. “All of our companies are built around efficient processes that help consumers reach their end goal of financial and personal security. I’m also proud of our Tennessee roots and look forward to Wesley Mortgage not only serving the needs of customers here but to also give back through community support in all of our markets.”
Wesley Mortgage will launch through direct-to-consumer organizations offering conventional, non-QM and Jumbo loan products, and is expected to obtain its VA and FHA Title II in the very near future. The company is initially licensed in Tennessee and is currently submitting licenses in Kentucky, Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia and Texas, with plans to be in all 50 states within 18 to 24 months.
“One of the biggest frustrations for consumers in getting a mortgage loan to purchase or refinance a home is that the process can be so complicated,” Wallace said. “We saw a need to make the mortgage process more streamlined, as well as providing feedback and approvals quicker. To that end, we’ve rearranged the traditional process so that underwriting is at the front of the process instead of the backend.”
The company will utilize configurable technologies to capture employment, deposit and other verifications necessary in the mortgage approval process, allowing for faster approval turn times than traditional lenders.
“In addition, our customers will have one point-of-contact to walk them through every step instead of the usual hand-offs from originator, to processor, to underwriter to closer. This allows for much better communication for everyone involved … a ‘white glove’ treatment,” Wallace said.
Wesley Mortgage will leverage the power of the Wesley brand and the Wesley Group’s marketing expertise to drive consumer awareness.
“We have a team in place that has proven experience in generating qualified leads,” Wallace said. “With their help, we will be able to launch and gain market penetration at a much faster pace than a stand-alone company.”
Wallace is joined on the management team by mortgage industry veterans Dustin Wells, COO; Valorie Kacherian, CRCM, CCO; Jinanne West, CFO; Michelle Jones, controller; Stephanie Mcinturff, senior vice president and operations manager; and Ryan Zonana, vice president of secondary markets and investor reporting.
“Ed and his team bring over 150 years of combined experience to the table,” McDowell said. “We have spent over a year assembling this group and putting technology in place to quickly ramp up and become a national player in the mortgage market.”
More information on the company, based in Franklin, can be found at www.WesleyMortgage.com.