Cake

What Cake does

Cake Mortgage Corp. is a privately held, wholesale mortgage lender founded in 2018 and headquartered in Chatsworth, California. The company operates as a Third Party Originator (TPO) lender, distributing its loan products exclusively through licensed mortgage brokers and loan originators rather than directly to consumers. Cake holds NMLS licensing (ID #1734623) across 49 states and maintains FHA-approved (FHA #01102-0000-4) and VA-approved (Lender ID #906889) lender status, enabling government-backed lending alongside its core Non-QM product suite.

The company's product portfolio spans Jumbo loans up to $5 million, Non-QM products (Bank Statement, P&L Only, Asset Utilization, 1099, WVOE Only, Full Doc), DSCR loans for investment properties, Second Mortgage equity products, Conventional agency loans, and FHA/VA government-backed loans. Distribution is delivered through two parallel channels: a self-serve TPO Connect broker portal (Encompass-integrated) providing real-time pricing, lock desk, and pipeline management; and a dedicated Account Executive model with a committed 30-minute response time and same-day broker onboarding. Reported operational metrics include 1–2 day turn times on disclosures, 3–4 day underwriting, and $500M+ in monthly funded volume across a network of 1,000+ broker partners.

Cake generates revenue through origination fees and interest income on originated loans, with pricing structured as volume-based tiers that improve as broker production grows. The business model is transaction-based with no disclosed volume minimums for broker partners, and includes free training, co-branded marketing materials, and dedicated AE support as broker enablement investments. Ownership is founder-controlled with no disclosed institutional investment; management team, funding history, and detailed financial statements are not provided in the available data.

Name

Cake

Legal name

Cake Mortgage Corp.

Website

https://caketpo.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Wholesale Mortgage Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Jumbo & Portfolio Wholesale Lending (FSALACAF)

akta.pro secondary industries

Jumbo / Non-Conforming Mortgage Origination (FSALAAAH), Non-Agency (Jumbo/Non-QM) Mortgage Servicing (FSALAEAB), Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI)

Keywords

• Wholesale mortgage lending
• Non-QM loans
• Mortgage broker services
• TPO lending
• DSCR investment loans

Headquarters

HQ city

Chatsworth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Loan Origination Fees: Wholesale lender earning origination fees on mortgages. Generates revenue through interest rate spreads and origination fees charged to brokers. Volume-based pricing tiers that improve with broker production volume.
2. Interest Income: Earns interest income on originated loans held in portfolio or sold to secondary market investors.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Cake Mortgage Corp. is a wholesale mortgage lender (TPO - Third Party Originator) that provides Non-QM and agency mortgage products exclusively through licensed mortgage brokers across 49 states. Its offering spans Jumbo loans up to $5M, Non-QM products (Bank Statement, P&L, Asset Utilization, 1099), DSCR investment property loans, Conventional agency loans, FHA/VA government-backed loans, and Second Mortgage products. Brokers access the full suite through the proprietary TPO Connect portal for loan submissions, real-time pricing, lock desk, and pipeline management.

Product overview

Cake Mortgage operates as a wholesale non-QM (Non-Qualified Mortgage) lender offering a suite of loan products categorized by borrower income documentation type. The core product categories include: (1) DSCR products for investment property borrowers (covering 1-4 units, Multi-Family, and Foreign National scenarios), (2) Non-QM products for self-employed borrowers (including Bank Statement, P&L, WVOE Only, 1099, Asset Utilization, and Full Doc income types), (3) Jumbo loans up to $5M, (4) Conventional agency loans, and (5) government-backed FHA/VA loans. All products are supported through the TPO Connect broker portal platform, which provides loan submission, pricing, lock desk, and pipeline management tools.

Differentiator

Problem solved

Functional benefit

Products and services

• Jumbo Loans Wholesale jumbo mortgage products for high-value property purchases and refinances with loan amounts up to $5 million. Available to licensed mortgage broker partners for their high-net-worth borrower clients.
• Non-QM Loans Non-Qualified Mortgage (Non-QM) wholesale loan products including Full Doc, Bank Statement, P&L Only, Asset Utilization, 1099, and WVOE Only income documentation types. Designed for self-employed, gig workers, and borrowers with non-traditional income who do not fit standard agency guidelines. Available to licensed mortgage broker partners.
• DSCR Loans Debt Service Coverage Ratio (DSCR) investment property loans qualifying borrowers based on rental cash flow rather than personal income. Covers 1-4 unit residential, multi-family, and Foreign National scenarios. Available to mortgage broker partners for their investor clients.
• Second Mortgage Fixed second lien wholesale mortgage products allowing borrowers to tap into existing home equity. Available to licensed mortgage broker partners for their clients seeking equity-based financing.
• Conventional Loans Wholesale agency mortgage loans conforming to Fannie Mae and Freddie Mac guidelines. Available to licensed mortgage broker partners for standard agency-eligible borrowers.
• FHA / VA Loans Wholesale government-backed mortgage loans including FHA (Federal Housing Administration) loans with FHA #01102-0000-4 and VA (Veterans Affairs) loans with VA Lender ID 906889, featuring flexible underwriting guidelines. Available to licensed mortgage broker partners.
• TPO Connect Broker Portal Proprietary broker portal platform providing live pricing access across all loan programs, loan submissions, lock desk functionality, and full pipeline management for approved wholesale broker partners. Available 24/7 via web login.

Quantifiable outcome

• 1-2 day turn times on disclosures (vs industry average of 3-5 days)
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• NewRez (Shellpoint Mortgage Servicing): National wholesale and correspondent lender offering full agency, government, and Non-QM products to brokers. Comparable on product breadth and broker-channel model; larger and better capitalized than Cake.
• Homepoint: Wholesale and correspondent lender serving brokers with agency, government, and jumbo products. Comparable broker-channel business model, though with less Non-QM specialization than Cake.
• Rocket Pro TPO: Rocket Mortgage's wholesale broker channel, one of the fastest-growing wholesale lenders. Offers agency, government, and jumbo products to brokers. Direct competitor on speed-to-close, broker service, and product breadth.
• Verus Mortgage Capital: Wholesale Non-QM lender focused on alternative-income and investor programs distributed through brokers. Closely comparable to Cake on Non-QM specialization and broker-only distribution.
• PRMG (Paramount Residential Mortgage Group): National retail and wholesale mortgage lender with broad agency and Non-QM products offered through broker partners. Comparable on broker-channel origination and product suite, with broader retail diversification.
• Caliber Home Loans: Mid-large wholesale and correspondent lender with broad agency, government, and Non-QM products distributed through brokers. Direct channel competitor with similar geographic reach.
• United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender serving brokers exclusively. Direct competitor to Cake with a much broader product set including Non-QM, Jumbo, and government loans, and a similarly tech-forward broker portal (UWM Portal). Comparable on business model, customer (broker), and distribution channel.
• Angel Oak Mortgage Solutions: Non-QM-focused wholesale lender offering bank statement, DSCR, and alternative income products to brokers. One of the most direct Non-QM competitors to Cake, with a similar product set targeting the same broker channel.
• Deephaven Mortgage: Specialist Non-QM wholesale lender focused on bank statement, DSCR, and investor products. Competes with Cake head-to-head on Non-QM broker business with similar product positioning and channel model.
• loanDepot Wholesale (ldwholesale): Wholesale arm of loanDepot serving brokers with conventional, government, and Non-QM products. Comparable on channel, product breadth, and broker service focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/caketpo

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cake