Security One Lending and Texas Capital Bank have agreed to double the size of its existing warehousing facility said a company statement. The increase funding capacity comes at a time when Security One Lending has doubled it business since early March with the acquisition of OMNI reverse mortgage.
“Texas Capital Bank has been a tremendous partner to S1L and they have emerged as a premier player in the Warehouse Lending Business. The leadership team at TCB has been extremely supportive of our firm and they have done a tremendous job of balancing capacity and service levels to their clientele”, said Torrey Larsen, President of Security One Lending. “We look forward to building upon our existing relationship”
Texas Capital Bank is a subsidiary of Texas Capital Bancshares (NASDAQ: TCBI), a commercial bank that delivers highly personalized financial services says the company website.
Security One Lending is currently licensed in 13 states and plans to be licensed in 38 states by year end. Combined with Omni’s production, Security One has endorsed 689 HECMs YTD according to HUD data.