Freedom Mortgage’s head of wholesale lending on growth plans for 2023

Mike Mell is the senior vice president of wholesale lending at Freedom Mortgage.

In the last several months, large, mid-sized and small mortgage lenders have taken drastic measures to stay afloat as the housing market cools.

But with interest rates doubling from last year, the wholesale channel has suffered most. Numerous lenders, such as loanDepot, Finance of America, MUFG Union Bank, AmeriSave and Mountain West Financial, announced in 2022 that they will be winding down their wholesale lending channels in response to tougher conditions.

In the midst of all this divestment, Freedom Mortgage announced in October the promotion of Mike Mell to serve as a senior vice president of wholesale lending.

With over 17 years of experience at Freedom Mortgage, Mell sees a path forward for the wholesale channel and is optimistic that he will be able to grow it, despite headwinds.