TPO GO exits wholesale channel, aligns with Stockton Mortgage

Residential mortgage lender TPO GO is exiting the wholesale business nationally under a strategic alliance with Stockton Mortgage that will transfer most of the company’s wholesale sales and operations staff to Stockton.

The news was first reported on last week by Rob Chrisman and later confirmed to HousingWire by a spokesperson for Stockton Mortgage.

The deal closes Aug. 10, according to the companies. Despite being described initially as a transaction involving the two companies, it is not structured as an acquisition and does not include the purchase or sale of stock or assets, the spokesperson clarified.

Rather, their “strategic alliance” involves working together “from a resources, recruiting,and information technology standpoint, to facilitate a transition of TPO GO wholesale division staff, information and technological resources from TPO Go to Stockton Mortgage,” the spokesperson said.

The move marks a significant shift for TPO GO, which became Norcom Mortgage’s wholesale platform after CMG Financial acquired Norcom’s retail operations in 2024. The deal added 25 branches to CMG’s Northeast footprint, while Norcom’s wholesale business remained independent under the TPO Go name.

Stockton did not disclose financial terms, and TPO GO did not respond to HousingWire’s request for comment at the time of publication.

When asked about whether layoffs will ensue as a result of the alliance, the spokesperson said that the alliance is expected to result in the “lion’s share” of TPO GO’s wholesale sales and operations team joining Stockton Mortgage following the closing.

TPO GO plans to exit the wholesale channel nationally, although it may maintain limited wholesale operations in certain defined markets.

The companies did not provide additional details about the transition or whether TPO GO will maintain a wholesale presence in specific markets, including Connecticut, where it is headquartered.

The strategic alliance comes as mortgage lenders and brokers continue to adjust their operations amid a challenging origination environment and ongoing pressure to improve efficiency and scale.