TPO GO exits wholesale mortgage channel via alliance with Stockton Mortgage

The arrangement, described as a strategic alliance rather than an acquisition, will see the majority of TPO GO's wholesale sales and operations personnel move to Stockton Mortgage. A spokesperson for Stockton Mortgage confirmed the details, clarifying that the deal does not involve the purchase or sale of stock or assets.

Instead, the alliance focuses on collaboration in resources, recruiting, and information technology to facilitate the transfer of TPO GO's wholesale division's staff, information, and technological assets to Stockton. This move represents a significant strategic shift for TPO GO, which previously operated as Norcom Mortgage's wholesale platform before CMG Financial acquired Norcom's retail operations in 2024.

While financial terms were not disclosed, the alliance is anticipated to lead to the "lion's share" of TPO GO's wholesale team joining Stockton. TPO GO intends to cease national wholesale operations, though it may continue limited wholesale activities in select defined markets. The companies have not provided further specifics on the transition or potential market-specific presences, including in TPO GO's home state of Connecticut.

This strategic alignment occurs amidst a challenging origination environment for mortgage lenders and brokers, who are continuously adapting their operations to enhance efficiency and scale.