It offers agency and non-QM loans
Mortgage industry veteran Stephen Thomas (pictured) has unveiled his latest venture, FutureWave Finance, a minority-led national correspondent lender.
With Thomas at the helm as president and CEO, FutureWave partners with investors to provide lenders with a suite of products, including government, conventional, and low-balance loans, as well as jumbo, non-QM residential, and non-QM business purpose loans.
“Lenders need a product-focused approach to grow their residential mortgage business as we are undergoing a secular shift from the rate-driven refinance market that dominated the industry for most of our careers,” Thomas said in a press release. “We are using our vast resources, infrastructure, technical knowledge, and numerous industry relationships to partner and deliver a wide variety of mortgage loan products – with expert pricing – to service those needs.”
Before establishing FutureWave, Thomas dedicated nearly a decade as the senior managing director of mortgage capital markets at the Federal Home Loan Bank of Chicago (FHLBC). His tenure at FHLBC was marked by several pivotal roles, from chairing the MPF Capital Markets Committee to co-founding the FHLB Capital Markets Supplier Diversity Committee.
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Before FHLBC, Thomas founded and managed the Mortgage Finance Group at CastleOak Securities. His mortgage career also includes time spent at industry giants like Fannie Mae and Countrywide Home Loans.
Currently, Thomas is an active board member and treasurer at Mercy Housing-Lakefront, part of the nation’s premier non-profit affordable housing developer, Mercy Housing. He also co-chairs the National Housing Conference’s National Advisory Council and is an integral part of Quontic Bank’s advisory boards.
“I’ve known Steve Thomas a long time, and if anyone can deliver the leadership and drive to change the mortgage industry and provide homeownership opportunities, it’s Steve. He knows this business inside and out and is deeply involved in the housing industry,” said Julie Joseforsky, president of financial services at Fay Financial.
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