The Loan Store becomes Averra Financial following three-year expansion
- is the new name for The Loan Store, following a three-year expansion that transformed the Tucson, Arizona-based firm into one of the largest wholesale lenders in the United...
- By the third quarter of 2025, The Loan Store had climbed to fourth among U.S.
- The corporate transformation began three years prior when The Loan Store acquired Homepoint’s wholesale origination business.
Averra Financial Inc. is the new name for The Loan Store, following a three-year expansion that transformed the Tucson, Arizona-based firm into one of the largest wholesale lenders in the United States broker channel, the company announced Thursday. For mortgage brokers currently doing business with the lender, the rebrand leaves account executives, loan programs, pricing, approvals, and existing pipelines entirely unaffected.
The Loan Store Becomes Fourth Largest Wholesale Lender
By the third quarter of 2025, The Loan Store had climbed to fourth among U.S. wholesale lenders, according to Inside Mortgage Finance data cited by nationalmortgageprofessional.com. The company recorded $3.2 billion in quarterly volume and a 3.1% market share, trailing only United Wholesale Mortgage (UWM), Rocket Mortgage, and Pennymac.
Full-year estimates from Inside Mortgage Finance put the company’s 2025 wholesale volume at approximately $12.5 billion. By comparison, UWM reached roughly $161 billion, Rocket registered $35.9 billion, and Pennymac recorded $20.5 billion over the same period. Modex data reviewed by National Mortgage Professional also confirmed $12.53 billion in production over the report period, spanning 34,421 loans and averaging about $1.04 billion per month. Purchase loans accounted for the largest share of recent production at $8.23 billion, compared with $3.73 billion in refinances and $571.7 million in home equity.
The 2023 Homepoint Acquisition
The corporate transformation began three years prior when The Loan Store acquired Homepoint’s wholesale origination business. When Inside Mortgage Finance announced that agreement in April 2023, The Loan Store did not rank among the 25 largest wholesale lenders nationwide. Homepoint, meanwhile, operated as the nation’s third-largest wholesale lender, having funded $22.4 billion in wholesale loans in 2022.
The transaction brought roughly 100 Homepoint employees over to The Loan Store. Phil Shoemaker, who served as Homepoint’s president of originations prior to the deal, stepped in as CEO of the acquiring company.
The Loan Store name got us here, but it no longer tells the whole story of who we are,
Phil Shoemaker, CEO
Shoemaker added that Averra reflects a national platform built on speed, product depth, and broker partnerships.
Non-QM Volume Grows as Lender Expands Product Lineup
Alongside its conventional and government lending roots, the lender has pushed heavily into Non-QM and home equity offerings. The company reported that its Non-QM volume grew 68% fiscal year-to-date through August compared to the same timeframe in 2025.
The current lineup features conventional, FHA, VA, and USDA loans, alongside second mortgages and buy-before-you-sell programs. The expansion also incorporates a home equity line of credit (HELOC) partnership with Aven that funded its first loan in May, as well as Averra Advantage, an income-verification tool designed for borrowers with nontraditional income streams.
Employee Emails Transition to New Averra Domain
Employee email addresses are currently transitioning to the new Averra domain, with messages sent to legacy addresses set to forward for the next several months. Loans already in progress continue toward closing without interruption, and the company’s updated website maintains its exclusive focus on third-party origination through brokers and non-delegated lenders.