/PRNewswire/ Celebrity Home Loans has partnered with Fortuna to offer exclusive bridge financing to consumers transitioning from one home to another. The.
Cypress Mortgage Capital, the Utah-based correspondent lending division of Celebrity Home Loans, has closed after four years in business. Senior Vice President Jeff Ehrlich announced the closure last week on LinkedIn. “Starting a new business is never easy,” Ehrlich said in his LinkedIn post. “Starting a new correspondent investor business during COVID, even more difficult and some called us crazy!” Ehrlich said that he and his executive team left good jobs and worked tirelessly for almost two years, “but in the end it was not meant to be.”
Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business.