We are pleased to add such a productive and talented group to our FFC family. This merger is yet another step in our continually expanding footprint.
Rochester, NY (PRWEB) February 12, 2015
FFC Mortgage Corporation, a New York based lender founded in 1987, announced today the acquisition of University Mortgage. Led by CEO Steven Lo Bue and CFO Brian Kelly, the University merger brings over twenty full-time employees to FFC and adds an estimated $15 million in monthly closed loan volume to FFC’s existing production.
Commenting on the University acquisition, Doug Reilly, president of FFC Mortgage Corp., said, “We are pleased to add such a productive and talented group to our FFC family. This merger is yet another step in our continually expanding footprint. Steven and his team have established themselves as leaders in their New Jersey marketplace and we look forward to continuing our growth together.”
Steven Lo Bue, CEO of University Mortgage, adds, “Not only am I looking forward to the new dynamic with FFC, but I am also pleased to be working again with my leadership team of Brian Kelly and Shawn Miller. As the former partners of One Source Mortgage, we established systems and practices that we are confident will contribute to FFC immediately.”
Lo Bue brings over fifteen years of industry experience to FFC in all aspects of mortgage sales, management, marketing and start-ups. After the initial onboarding and integration are complete, he and his leadership team of Kelly and Miller will manage and grow the existing location, begin to pursue additional M&A opportunities, and recruit new branch locations.
FFC Mortgage Corporation is a privately held mortgage lender originating agency and non-agency residential mortgage loans through a network of branch locations in ten states. With twenty-seven years of proven staying power, FFC has earned a strong and trusted reputation in the markets it serves. FFC’s dedication to customer service, technology and operational excellence have positioned the company as a leading provider of home loans in today’s changing markets.