Bank unveils wholesale division focused on non-QM lending
American Bancorp Inc. and its subsidiary, American Pride Bank, have launched APB Wholesale, a new third-party origination (TPO) platform that will operate as the wholesale arm of the bank’s mortgage division with a focus on non-qualified mortgages (non-QMs).
APB Wholesale offers a mix of conventional, FHA, and non-QM products, including portfolio solutions such as VOE-only and DSCR loans for first-time investors. Brokers can access pricing through the Lender Price Marketplace platform.
According to the bank, the division was developed by a team of mortgage professionals with more than 200 years of combined experience. The unit is currently onboarding brokers across the country and is positioned as part of the bank’s broader effort to expand its mortgage footprint.
Jessica Bluj, head of the mortgage division, leads the APB Wholesale team. Prior to this role, she held leadership positions across several lending institutions. American Pride Bank's CEO, Dominik Mjartan, said the move reflects the bank’s intent to broaden its national reach in the mortgage space.
The launch comes at a time when other firms active in the non-agency mortgage space are reporting mixed results. MFA Financial reported $41.2 million in net income in Q1 2025, a sharp increase from the prior quarter. The firm acquires non-QM loans and owns Lima One, which focuses on business-purpose lending.
Read next: Angel Oak turns $15m loss into $20m gain in Q1
Meanwhile, AG Mortgage Investment Trust posted $11.5 million in net income, down 19.6% from the previous quarter. AGMIT invests in non-agency loans and maintains an ownership stake in Arc Home, another non-agency lender.
Read next: Executive urges brokers to think carefully when choosing a non-QM lender
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