Truss Financial scales hybrid model with new direct lending platform

Ladera Ranch, California-based Truss Financial Group (TFG) has expanded from brokerage into direct lending, adding in-house underwriting and direct table funding, the company announced last week. “Expanding into direct lending allows us to accelerate overall funding timelines, offer direct underwriting transparency, and provide enhanced speed for self-employed business owners and portfolio investors requiring reliable liquidity,” Jeff Miller, CEO and founder of TFG, said in a statement. Founded by Miller in 2006, TFG focuses on nonqualified mortgages (non-QM), debt-service-coverage ratio (DSCR) investor products, bank-statement mortgages and standalone second-lien home equity lines of credit (HELOCs). The company said that it has started direct lending operations in California, with plans to add more states over the coming quarters. By becoming a direct lender, TFG can now underwrite, approve and fund certain loans itself rather than relying solely on wholesale partners. Outside of its direct lending footprint, TFG will maintain its existing brokerage platform, which it said includes more than 90 wholesale banking partners across 44 states and Washington, D.C. That hybrid structure...