Greenlight Financial Services, Irvine, Calif., will enter the wholesale channel and hopes to fund its first loan some time early next year.

Executive vice presidents Mary Glass-Schannault and Gretchen Verdugo will oversee the new effort. Both women come from the secondary market side of the business, each having facilitated more than $50 billion in securitizations and whole loan transactions during their careers.

Bela M. Donine was named national sales manager for the wholesale unit.

Greenlight opened its doors in 2001 as a retail originator, and recently added a reverse mortgage division.

The firm said it hopes to hire 400 additional workers at its headquarters, including retail LOs, wholesale account executives, as well as back office processors and underwriters.

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