Real Estate Agents

Open Season: The Third-Party Origination Flip-Flop 

In early 2007, Mark Greco co-launched 360 Mortgage Group LLC out of Austin, TX. In this edition of Open Season, Greco sets his sights on third party originations. TPOs, as Greco calls it, have frequently come under scrutiny because of a broker/lender’s lack of any ongoing and lasting responsibility for the performance of the mortgage. Here’s his take: “We are of the opinion that TPO has gotten the black eye because all of the wholesale companies, all the big mortgage companies, didn’t know what expect, performance wise, from TPO products.