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Madison, Wisconsin-based Fairway Independent Mortgage Corp. announced it will be closing its wholesale division.

The final lock date on new loans is scheduled for Feb. 9 and the last day to submit new loans is Feb. 16, with brokered loans required to be closed by March 15.

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“The people who have run Fairway’s Wholesale Department are some of the most talented, humble people in the business and will be a huge value add at their next mortgage home,” Fairway CEO and Founder Steve Jacobson said in a statement. “We want to thank our entire amazing Wholesale team for its dedication and professionalism over the years. ”

Fairway will be concentrating on the retail side of the mortgage space, with Jacobson adding the division’s closure was a result of “simply making a business shift, nothing more, nothing less, in order to focus on our core business to ensure that we continue providing the best customer experience going forward.”

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