First Federal Bank Sells Third-Party Mortgage Origination Unit

Florida-based First Federal Bank originated mortgages referred by brokers and other channels through its third-party origination unit. Selling the business can reduce the burden of back-office fulfillment and distribution-channel management, allowing the bank to focus its resources on the retail mortgage market, where it serves customers directly.

First Federal Bank announced that it will sell its TPO unit and related mortgage fulfillment operations to Chicago-based Mortgage Forward as part of a 2026 strategic plan to improve operating efficiency. The companies did not disclose the transaction value, the exact signing date or the expected closing date. They also have not disclosed the volume of loans to be transferred.