CashCall Chief Says Hes Open to a Deal, Are Other Call Center Lenders Eyeing the Exit?
May 23, 2013
Mortgage lenders that specialize in refinance lending have made a killing the past few years, especially call center operations with state-of-the-art technology. But is now the time for these firms to take their chips off the table or ponder a merger with more traditional lenders that have ties to real estate brokers and homebuilders? Paul Reddam, founder and president of CashCall, a top 30 lender, told Inside Mortgage Finance that he would be open to selling the company. We would entertain an offer at any time, said Reddam, who first made a name for himself in mortgages with Ditech Lending early last decade. Reddam noted...