What Open Mortgage Wholesale does

Open Mortgage Wholesale is a privately held wholesale residential mortgage lender operating as a DBA of GenWay Home Mortgage, Inc., headquartered in Frisco, Texas with a secondary office and serving mortgage brokers and Independent Mortgage Brokers (IMBs) exclusively across 49 U.S. states (excluding New York). The company is licensed through NMLS #222730 and holds FHA and VA Lender IDs, and employs between 11 and 50 staff. It generates revenue primarily through per-loan underwriting/transaction fees ($795–$1,895 depending on product) and retains loan servicing operations.

Its product portfolio spans agency/government products (Conventional, FHA, VA, USDA), a diversified Non-QM suite (Contender, TrailBlazer DSCR up to $3M, TrailBlazer Plus, Explorer ITIN, WayFinder) and two differentiated flagship programs: DreamBuilder, a rent-to-homeownership structure where an FHA-eligible entity purchases the property and the participant builds equity toward ownership; and LegacyBuilder DPA, offering up to 101.5% CLTV with no income caps and broad geographic reach. Technology is anchored by the DREAM Broker Portal (powered by Encompass TPO Connect), integrated with Mercury Network for appraisal ordering, Truv for employment verification, and agency automated underwriting systems (Fannie DU, Freddie LP, FHA Total Scorecard).

The go-to-market is purely wholesale: brokers access products via the DREAM Portal, receive pricing through the Quick Pricer, and are supported by tenured Account Executives, a Partner Success Team, recurring live Zoom trainings, and co-brandable marketing materials. The company targets borrowers outside traditional guidelines — self-employed, ITIN, DACA, recent bankruptcy, non-traditional credit, and real estate investors — with a stated focus on inclusive underwriting and being recognized as one of the top Down Payment Assistance lenders in the nation.

Name

Open Mortgage Wholesale

Legal name

GenWay Home Mortgage, Inc.

Website

https://openwholesale.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Open Mortgage Wholesale is a privately held wholesale residential mortgage lender (DBA of GenWay Home Mortgage, Inc.) headquartered in Frisco, TX, serving approved mortgage brokers and Independent Mortgage Brokers across 49 U.S. states with agency, government, Non-QM, DPA, and rent-to-own DreamBuilder loan products via its DREAM Broker Portal.

Ownership category

akta.pro rank

Product category

Wholesale Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Wholesale Mortgage Lending (Broker Channel) (FSALACAA)

akta.pro secondary industries

Government Wholesale Lending (FHA/VA/USDA) (FSALACAE), Jumbo & Portfolio Wholesale Lending (FSALACAF)

Keywords

• Wholesale mortgage lending
• Non-QM loan programs
• Down payment assistance
• Mortgage broker services
• Residential lending solutions

Headquarters

HQ city

Frisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Wholesale Mortgage Origination Fees: Open Mortgage Wholesale generates revenue through loan origination fees charged to broker partners. Underwriting fees are collected per loan: Agency & GNMA loans at $1,395, FHA Streamline & VA IRRRL at $795, DreamBuilder at $1,695, and Non-QM at $1,895.
2. Loan Servicing: The company maintains loan servicing operations, collecting payments from borrowers after loan origination.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Open Mortgage Wholesale is a wholesale residential mortgage lender that funds loans originated through approved mortgage brokers and Independent Mortgage Brokers (IMBs). It provides an inclusive product suite spanning government-backed (FHA, VA, USDA), conventional, and Non-QM programs—including flagship offerings DreamBuilder (rent-to-homeownership empowerment program) and LegacyBuilder DPA (up to 101.5% CLTV down payment assistance)—along with the DREAM Broker Portal for loan submission, pipeline management, and pricing.

Product overview

Open Mortgage Wholesale operates as a wholesale mortgage lender offering a comprehensive suite of mortgage products through its broker partner network. The product portfolio includes both government-backed loan programs (FHA, VA, USDA) and conventional loans, alongside a robust Non-QM product lineup designed to serve underserved borrowers. Key products include DreamBuilder (a unique homeownership empowerment program with FHA entity purchase structure), LegacyBuilder DPA (down payment assistance up to 101.5% CLTV), and specialized Non-QM programs (Contender, TrailBlazer DSCR, TrailBlazer Plus, Explorer ITIN, WayFinder) serving self-employed borrowers, investors, and those with non-traditional credit. All broker operations are facilitated through the DREAM Broker Portal powered by Encompass TPO Connect.

Differentiator

Problem solved

Functional benefit

Brands

• DreamBuilder: Homeownership empowerment program for underserved, underbanked, and overlooked homebuyers with non-traditional credit, ITIN, DACA, and low FICO borrowers
• LegacyBuilder DPA
• Contender
• TrailBlazer DSCR
• WayFinder
• Explorer ITIN
• TrailBlazer Plus

Products and services

• DreamBuilder A homeownership empowerment program designed for underserved, underbanked, and overlooked homebuyers that uses Non-QM doc types at FHA-like LTVs. An FHA-eligible entity purchases the property while participants enter a structured lease with equity building, eventually achieving full ownership via assumption, refinance, or sale.
• LegacyBuilder DPA Down payment assistance program offering up to 101.5% CLTV with no borrower down payment required; features forgivable and repayable DPA options, no income or location restrictions, available in 49 states (excluding NY).
• Contender Non-QM loan program for credit-adjacent, bank statement, and underserved borrowers with loan amounts up to $3.5 million; accepts 1-year full-doc, 12- and 24-month bank statements, 1099, P&L only, WVOE, and asset depletion documentation.
• TrailBlazer DSCR Business purpose investment loan program for real estate investors qualifying on property cash flow rather than personal income; DSCR options down to 0.75, maximum LTV 85%, loan amounts up to $3 million.
• TrailBlazer Plus Expanded flexibility Non-QM program with business purpose loan amounts up to $3 million, full/alt-doc and DSCR options up to 85% LTV, accepting ITIN, Foreign National, and NPRA borrowers; includes manufactured and rural properties.
• Explorer ITIN Credit access program for ITIN, Non-Permanent, and Foreign National borrowers using alternative documentation; loan amounts up to $2 million with no SSN, W-2s, or paystubs required.
• WayFinder

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• Encompass (ICE Mortgage Technology)coreTechnology or IntegrationDREAM Portal is powered by Encompass TPO Connect, providing the technology platform for broker loan submission, pipeline management, and loan processing workflows.
• Mercury NetworksupportingTechnology or IntegrationMercury Network is integrated for appraisal ordering, allowing brokers to order appraisals directly through the broker portal.
• Fannie Mae (DU), Freddie Mac (LP), FHA Total ScorecardcoreTechnology or IntegrationAutomated Underwriting System integrations for loan eligibility determination across conventional, FHA, and VA loan products.
• Truv Employment VerificationsupportingTechnology or IntegrationEmployment verification services launched June 15 for enhanced borrower verification processes.

Scale indicators3 records

Recent moves6 records

Expansion highlights2 records

Broad incumbents

• Caliber Home Loans: Large non-bank mortgage originator with significant Non-QM/DSCR product exposure and wholesale/correspondent channels. Competes head-to-head with Open Mortgage Wholesale in the Non-QM broker market at substantially larger scale.
• United Wholesale Mortgage (UWM): Largest US wholesale mortgage lender (~$20B+ origination; UWM Holdings public). Operates exclusively through mortgage brokers with broad agency and Non-QM product suite. Directly competes with Open Mortgage Wholesale in the wholesale broker channel but at materially larger scale.
• Rocket Pro TPO (Rocket Mortgage): Wholesale broker division of Rocket Mortgage, offering a wide product suite to brokers including conventional and government loans. Comparable as a scaled wholesale competitor targeting independent mortgage brokers.
• loanDepot Wholesale: Wholesale division of publicly-traded loanDepot serving mortgage brokers with a wide conventional, government, and Non-QM product set. Comparable as a wholesale channel competitor with larger scale and capital markets capacity.

Direct peers

• Carrington Mortgage Services: Wholesale and retail mortgage lender with extensive government and Non-QM products including DPA. Comparable product breadth and inclusive borrower focus to OMW; similar wholesale distribution scale.
• Plaza Home Mortgage: Privately held wholesale and correspondent mortgage lender offering conventional, government, and Non-QM products to brokers. Highly comparable on size, distribution model, and inclusive product positioning.
• Kind Lending (formerly Paramount Equity): Wholesale and retail mortgage lender known for inclusive Non-QM programs and DPA products for underserved borrowers. Compares closely on niche underserved borrower focus and product innovation in the wholesale channel.
• NewRez (CoreVest): Non-bank mortgage lender offering wholesale, retail, and Non-QM/DSCR (via CoreVest) products. Direct peer on the Non-QM/DSCR and wholesale broker fronts, with broader product and channel breadth.
• A&D Mortgage: Pure-play wholesale mortgage lender focused on Non-QM and government products to brokers nationwide. Closely comparable on wholesale-only model, Non-QM specialization, and broker relationship-driven GTM.
• Angel Oak Mortgage Solutions: Non-QM focused wholesale lender serving mortgage brokers with products including Non-QM, alt-doc, DSCR, and DPA programs. Closely comparable on product mix, broker-distribution model, and Non-QM niche focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/open-mortgage-wholesale

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Open Mortgage Wholesale