AmeriSave Wholesale Mortgage Solutions abruptly shuts doors

Added an account executive: “AmeriSave Wholesale closed up shop last week and many people including myself were laid off in the process. To my AWMS family, I will forever cherish all successes, failures, laughs, tears we shared as a startup in one of the most grueling industries out there.”

Brenning didn’t post an official statement on LinkedIn, but dutifully responded to employees’ posts while offering praise for their past work. Brenning predicted a bright future for AWMS in August 2021 – a mere two months after its June 14 launch – as he expressed during an interview with title underwriter Doma.

“Yeah, so, you know, a lot of wholesale lending choices out there for the broker community, why launch another one?” he asked rhetorically during the interview with Doma. “There’s already several hundred choices and, you know, many, many, many great choices for the broker community. So I set out with a couple of gentlemen that run AmeriSave, the parent company, the mother ship to the AmeriSave Mortgage Corporation, set out with them in May of last year and 2020 middle of the pandemic to build something that they saw as a vision.”

In the interview, Brenning touted the parent company’s AUSSIE technology he described as a decisioning engine – “a processing engine, origination engine, kind of like an underwriter, processor, originator, compliance person all in one.” He was given “a blank check and a white canvas to do this the right way,” Brenning said. “And that’s what we set out to do, is give brokers a clean, new, fresh choice that is powered by what I would call revolutionary technology.”