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Mortgage Warehouse Purchase Facility Renewal and Increase

Loan Originator
Representation of homebuilder captive mortgage company in connection with multiple mortgage warehouse purchase facilities aggregating in excess of $100 million. These transactions provided interim financing on a revolving basis to the client to fund billions of dollars of annual mortgage loan originations to carry these mortgage loans until ultimately sold to end purchasers. Lenders such as JPMorgan Chase structure these warehouse facilities as purchase and sale (repo) facilities rather than lines of credit to avail themselves of favorable U.S. bankruptcy law.