California-based Dunmor announced Monday the unveiling of a wholesale broker division, which will be led by Zeenat Zonte, a wholesale executive who most recently headed the correspondent channel of Newfi.

Dunmor, which was founded in 2021, currently sponsors six loan officers, according to the Nationwide Multistate Licensing System. It can originate loans in five states, including California, Idaho and Michigan.

The firm's expansion into the wholesale space will give mortgage brokers access to a plethora of financial products such as bridge loans, multifamily loans and DSCR loans, per Dunmor's website.

"Launching our wholesale broker division is a strategic step toward empowering brokers and delivering unparalleled solutions to investors," said Franck Ruimy, CEO of Dunmor, in a statement. "Our data integration and technology ensure a user-friendly portal that streamlines processes and enhances broker efficiency."

Zonte, who also had a stint at Civic Financial as head of the firm's correspondent lending channel, noted the division will give brokers "tools and resources they need to succeed." Per a press release, the firm will be providing brokers with "hands-on training, ensuring they are confident and equipped to leverage Dunmor's resources effectively."

Dunmor's move to expand into the wholesale space challenges the old adage that some stakeholders have that retail shops should not manage wholesale operations and vice versa. 

Some argue that a company operating both types of businesses, potentially puts originators in competition with brokers at the same firm. This strain has led companies like United Wholesale Mortgage, Equity Prime Mortgage, and Plaza Home Mortgage to avoid retail channels entirely.

As profit from loan originations has dwindled in recent years, a plethora of lenders also opted to exit wholesale, though a handful of top-ranked retail lenders remain in the TPO space such as Rocket Mortgage and Pennymac.