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Benchmark Mortgage is exiting its wholesale and correspondent lending business, Eleven Mortgage, and plans to focus on retail lending. The Dallas Business Journal reports that 82 permanent layoffs are expected to begin November 24, 2026. The move concerns a division of Benchmark Mortgage—not a reported closure of the company as a whole.
Which Plano mortgage company is exiting wholesale lending?
Ark-La-Tex Financial Services LLC, which operates as Benchmark Mortgage, announced on September 25, 2026, that it would exit Eleven Mortgage, its wholesale and correspondent lending division. In its announcement, the company said the change would focus leadership and resources on retail lending, technology, and employees. Company announcement
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Wholesale and correspondent lending are the business lines being exited. Benchmark Mortgage has said it intends to concentrate on retail operations; the announcement does not say the entire company is closing.
How many employees are affected?
The Dallas Business Journal reported on October 2, 2026, that 82 permanent layoffs are expected to begin November 24, 2026. The publication attributed the count and timing to a September 25 notice filed with the Texas Workforce Commission. The report says cuts affect wholesale and home-office departments. Dallas Business Journal report on layoffs
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Roles named in the report
- 16 underwriters
- Nine wholesale account executives
- Eight wholesale account managers
- Several leadership roles, as well as other wholesale and home-office positions
The three specifically counted job groups account for 33 of the 82 listed workers; the report does not identify every affected role in the details summarized here.
Why is Benchmark Mortgage making the change?
CEO Norman Koenigsberg described the exit as a deliberate strategic decision. He said it would simplify the business and align resources with retail lending and employees, which the company sees as its strongest opportunity. The company also identified technology as an area of focus in its announcement.
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Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.“Our decision to exit the wholesale and correspondent mortgage division was deliberate and strategic. It allows us to simplify our business, sharpen our focus, and align our resources around the areas where we believe we have the greatest opportunity — our retail business, and most importantly, our people.”
Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.— Norman Koenigsberg, CEO of Benchmark Mortgage
What was Benchmark Mortgage’s reported scale?
The Dallas Business Journal reported that Benchmark Mortgage originated $584.8 million in mortgage volume across 1,458 loans in 2025. The publication also reported a 1.45% market share and an average loan size of roughly $401,000 for that year. These figures provide scale context; they do not establish how the company’s retail business will perform after the division exit. Dallas Business Journal 2025 volume figures
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- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
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