Mountain West Financial exits wholesale business line

California-based Mountain West Financial said Thursday it has made the “difficult decision” to step back from wholesale lending.

Founded in 1990, the company started as a small mortgage broker, then grew to a multi-channel lender supporting retail and wholesale, which accounted for 15% of its volume last year. Mountain West has partnered with other companies and vendors, operating under several DBAs, including Redlands Mortgage Loans, Home Mortgage, CA Refinancing, and San Bernardino County Mortgage Rates.

Mountain West announced on its website that all submitted loans must be locked by Friday, August 26, and all loans must close by September 30. The lender originated approximately $1.9 billion in 2021, according to Inside Mortgage Finance’s database.