Mortgage Investors Group

What Mortgage Investors Group does

Mortgage Investors Group (MIG) is a privately held Southeast U.S. residential mortgage lender founded in 1989 in Knoxville, Tennessee by Charles (Chuck) E. Tonkin, II and Chrissi Tonkin. The company originates purchase and refinance mortgages for individual consumers across 11 licensed states (AL, AR, CO, FL, GA, KY, MS, MT, NC, SC, TN, VA) through a network of 25 branches, supported by on-site underwriting, processing, and appraisal services and a dedicated per-neighborhood appraisal team. Its product portfolio spans Conventional, FHA, VA, USDA, THDA, Georgia Dream, Jumbo, Non-QM/DSCR, HELOC, and Reverse Mortgage loans, plus specialized programs such as Rate Buydowns and the Lock, Shop & Save rate-lock product.

MIG generates revenue primarily through origination fees, interest-rate spreads, and loan processing fees on closed mortgages, with additional professional-services revenue from its Builder Forward Commitment program offering Extended Lock terms of up to 180 days to home builder partners. Go-to-market combines direct branch sales, an interactive Miggie-guided online application, a consumer-facing loan-status portal, referral partnerships with Realtors and builders, and a National Affinity Program. Technology stack is operationally focused rather than AI-native: it includes in-house underwriting/processing, dedicated appraisal teams with neighborhood specialization, third-party integrations with Zillow's Zestimate API, Google Maps, and (post-incident) Cyberscout/TransUnion. The company has closed more than $30 billion in loans and served approximately 500,000 clients since inception, and holds the #1 THDA Lender position in Tennessee since 2003 and #1 USDA Lender position since 2015.

MIG's customer segmentation is hybrid: it explicitly serves first-time homebuyers, veterans and military, Tennessee THDA participants, Georgia Dream-eligible Georgia residents, USDA rural buyers, and real estate investors, supported by a builder partner channel. Leadership is a mix of long-tenured operators (Sharon Rivers, Chuck Tonkin, Dianne Rymer, John Burns) and recent hires from larger retail mortgage platforms (Tonya Strobel ex-Newrez/Wells Fargo). The company disclosed a December 2024 cybersecurity incident involving unauthorized access via stolen employee credentials, with notification and credit-monitoring remediation completed in late December 2025.

Name

Mortgage Investors Group

Legal name

Mortgage Investors Group

Website

https://migonline.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

251–500 employees

Short description

Mortgage Investors Group is a privately held Southeast U.S. residential mortgage lender founded in 1989 in Knoxville, Tennessee, operating 25 branches across 11 states and originating purchase, refinance, and government-backed loans (Conventional, FHA, VA, USDA, THDA, Non-QM) for individual consumers and home-builder partners.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)

akta.pro secondary industries

Closed-End Home Equity Loans (Second Mortgages) (FSALAGAA), Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators) (FSALAFAD)

Keywords

• Residential mortgage lending
• Home loan origination
• Mortgage refinancing services
• Government-backed mortgages
• Southeast mortgage lender

Headquarters

HQ city

Knoxville

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Mortgage Origination: MIG originates residential mortgage loans including conventional, FHA, VA, USDA, THDA, and non-QM loans. Revenue is generated through origination fees, interest rate spreads, and loan processing fees. The company has closed over $30 billion in loans since inception.
2. Builder Program Services: Extended lock programs and rate protection services offered to home builders and developers through the Builder Forward Commitment program, providing interest rate risk protection for up to 180 days.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Mortgage Investors Group is a privately held residential mortgage lender that originates, underwrites, processes, and funds home loans for consumers across the Southeastern United States through 25 branch offices. Its product portfolio spans Conventional, FHA, VA, USDA, THDA, Non-QM, Jumbo, HELOC, and Reverse Mortgage programs, supplemented by a Builder Forward Commitment program for home builders and a Correspondent Lending Division for community banks and credit unions. The company pairs in-house underwriting, processing, and appraisal capabilities with a digital consumer portal, interactive online application, and rate-lock programs of up to 180 days.

Product overview

Mortgage Investors Group (MIG) is a Southeast U.S. residential mortgage lender offering a diversified portfolio of loan products across government-backed, conventional, and non-qualified mortgage categories. The core offering spans Conventional, FHA, VA, USDA, THDA, and Non-QM loan programs for purchase and refinance transactions, supplemented by specialized products including Jumbo Loans, HELOCs, Reverse Mortgages, and Georgia Dream (state-specific) programs. Supporting tools include an interactive multi-step online application, a consumer-facing loan status portal, and a suite of 9 mortgage calculators covering affordability, payments, refinancing, rent-vs-buy, buydown analysis, and ARM projections. The Builder Forward Commitment Program with its Extended Lock option targets home builder partnerships. MIG operates 25 branches across the Southeast with in-house underwriting, processing, and appraisal services. The company has no public API but integrates with Zillow's Zestimate API (for home value estimation), TransUnion/Cyberscout (for post-incident credit monitoring), and Google Maps (for branch location services).

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Loan Mortgages
• FHA Loans
• VA Loans
• USDA Home Loans
• THDA Loans
• Georgia Dream
• Refinance Loans
• Jumbo Loans
• Non-QM Loans
• HELOC (Home Equity Line of Credit)
• Reverse Mortgages
• First-Time Home Buyer Programs
• Rate Buydowns
• Lock, Shop & Save
• Builder Forward Commitment Program
• Complimentary Credit Monitoring and Identity Protection Services

Quantifiable outcome

• 98% of closed clients would recommend MIG
• +3 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles9 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Home Builders and DeveloperscoreStrategic or Co-development PartnerBuilder Forward Commitment program enables MIG to partner with home builders to offer completed homes at lower than market rates. The program includes extended lock terms up to 180 days, float-down options, and in-house processing for builder clients. MIG has dedicated appraisal teams per neighborhood that understand local property values.
• National Affinity Program PartnersminorGTM or Marketing PartnerMIG maintains a National Affinity Program (closewithmig.com) that partners with various organizations to provide mortgage services to their members or clients through referral arrangements.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Rocket Mortgage (Rocket Homes): Largest U.S. retail mortgage originator by volume with a national direct-to-consumer digital platform. Comparable to MIG as a retail-origination competitor but operates at vastly larger scale with a technology-led rather than branch-led model.
• Wells Fargo Home Mortgage: Major bank-affiliated U.S. mortgage originator with national retail and digital channels and broad product offerings. Comparable to MIG in offering government and conventional products; differs as a bank-affiliated platform rather than an independent regional lender.

Direct peers

• Guild Mortgage: Mid-to-large retail mortgage lender with strong branch presence in the Southeast and Western U.S., offering a similar product mix including FHA, VA, USDA, and non-QM. Comparable to MIG in branch-led retail distribution and government-program specialization.
• United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender serving independent mortgage brokers. Comparable to MIG in mortgage origination business model; differs as a wholesale-only platform rather than retail-branch operator, but competes for the same Southeast borrower pool via broker partners.
• Caliber Home Loans: National retail and wholesale mortgage lender offering a broad product mix including non-QM. Comparable to MIG in multi-channel retail origination and product breadth across conventional and government categories.
• Fairway Independent Mortgage: Large retail mortgage banker with a substantial branch network across the Southeast and Midwest, offering conventional, FHA, VA, USDA, and non-QM loans. Closely comparable to MIG in branch-led retail origination, product breadth, and family/culturally oriented operating model.
• NewRez (now part of Rocket): National mortgage lender with retail and wholesale channels offering government, conventional, and non-QM products. Directly comparable to MIG; additionally notable because MIG's CGO Tonya Strobel previously held senior leadership at NewRez, signaling direct talent-flow and operational overlap.
• loanDepot: Large multi-channel U.S. retail mortgage lender offering conventional, government, and non-QM products through direct-to-consumer, retail branch, and partner channels. Directly comparable to MIG in retail-origination focus, product breadth, and multi-state branch model.
• Movement Mortgage: Privately held retail mortgage lender with a multi-state Southeast and Mid-Atlantic branch footprint and a similar product mix spanning government, conventional, and renovation loans. Closely comparable to MIG in private-company status, branch-led retail model, and Southeast concentration.

Regional players

• Truist Mortgage (BB&T/SunTrust): Bank-affiliated retail mortgage lender concentrated in the Southeast and Mid-Atlantic, including Tennessee, North Carolina, and Florida. Comparable to MIG as a Southeast-anchored retail mortgage provider with a strong branch/banking channel.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Compliance15 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

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 Mortgage Investors Group