VAWM, founded in 2019 and headquartered in Virginia Beach, serves borrowers across several states including Georgia and Texas, specializing in military loans with lower downpayment options. The company will operate as a division of The Bank of Glen Burnie, which will handle administrative functions to strengthen growth efforts. VAWM originated about $125 million in mortgages in 2024 and has plans for expansion, including hiring new mortgage originators in Anne Arundel County as demand increases. CEO Eric Tan emphasizes that a reliable funding source will enhance their capacity to meet customer needs more effectively.
VAWM, founded in 2019, serves various states and specializes in loans for active-duty and retired U.S. armed forces members, offering lower downpayment FHA and VA products.
Under the agreement, VAWM will function as a division of The Bank of Glen Burnie, which will assume VAWM's administrative tasks to support growth and consistency.
CEO Eric Tan noted that with a committed funding source, VAWM can broaden its reach and increase lending volume, addressing customer needs more effectively.
The Bank of Glen Burnie aims to expand by hiring additional mortgage originators in Anne Arundel County, Maryland, responding to rising demand in the market.
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