New York, NY (PRWEB) June 26, 2012
At a time when the banking industry is looking for normality after years of turbulence, two companies—CalCon Mutual Mortgage Corporation and Associated Mortgage Bankers Inc.—are truly excited about the future of mortgage banking.
The two companies announced the completion of their merger today, marking the next chapter in mortgage lending as the two businesses combine to become the new CalCon Mutual, a DBA of the existing Associated Mortgage Bankers Inc.
“Combining two cultures and their business processes into one high performing entity is challenging; however, with countless hours of hard work on both sides, we were able to achieve these goals ahead of schedule,” said CalCon Mutual CEO Joshua Erskine.
Donald Moran, President of Associated Mortgage Bankers adds: “The synergies were obvious upon introduction by a mutual friend and colleague who heads up residential lending for a large international bank. The merger creates a new, highly efficient and versatile company with measured experience in residential mortgage banking, structured finance, loan servicing and commercial finance.”
To set a new standard for the industry, “CalCon Mutual has made a considerable investment in business process and technology to increase efficiency and offer borrowers and builder partners a faster and more transparent loan process,” said Shane Erskine, COO of CalCon Mutual. “We have created a system that can monitor production, compliance, quality and service levels from a global level down to single user in real time, which is vital to our success.”
The diversity of CalCon Mutual’s sectors promotes long term stability with its core being residential lending originations balanced across both traditional forward as well as a growing reverse retail and wholesale platform. The company’s additional sectors include loan servicing, structuring and implementing of custom finance programs for outside institutions and developments, purchase and sale of note pools, and industry consultations.
CalCon Mutual will be expanding in the coming months and is currently seeking a team to open a retail branch in Denver, CO. In addition, with the competitive landscape changing rapidly in retail and wholesale reverse mortgage, CalCon Mutual will be allocating resources to meet the need through the leadership of Executive Vice President Adam Salti.
“The reverse mortgage market has gone through significant changes in the last twenty-four months,” Salti said. “Because of vacancies left by Wells Fargo, Bank of America and now MetLife from retail and wholesale origination of reverse mortgages, our market positioning is very strong. We are fully dedicated to the reverse mortgage business, and have built a division to meet the market needs both today and well into the future.”
CalCon Mutual’s goals for the immediate future are clear as stated by Joshua Erskine, “We have significant opportunities for expansion available; however, we recognize the challenges ahead of us and our main focus will continue to be the customer experience. We also feel controlled growth is the way to stay true to our brand and to not forget what has gotten us to where we are today.”
About CalCon Mutual
CalCon Mutual is licensed in over 24 states nationally with two main operation centers in Garden City, NY, and San Diego, Calif., as well as physical locations in many states from New York to Hawaii. For additional information, please visit http://www.CalConMutual.com