"Founded in 1998 by David Silverman, NFM originated about $7.15 billion in mortgages over the past 12 months primarily in Florida, Maryland and Ohio according to RETR data. As of Friday, the company had about 480 producing loan officers across 96 branches, the data shows. NFM Lending president and chief operating officer Bob Tyson told HousingWire that the transaction allows NFM to expand its reach and resources, since Homespire is a great smaller organization."
"Per RETR, it has 42 producing LOs across 10 branches and originated about $490 million over the past year, with more than half of that volume tied to conventional loans. Most of its business comes from Maryland, Virginia and Florida, giving NFM deeper exposure along the East Coast and adding an experienced management team. The deal is about synergies. They're also local, Michael has an excellent reputation and we welcome his leadership here, Greg Sher, managing director at NFM, said in an interview."
NFM originated roughly $7.15 billion in mortgages over the past year, with primary activity in Florida, Maryland and Ohio. The company has about 480 producing loan officers across 96 branches. NFM completed a transaction that brings Homespire into its organization, adding 42 producing loan officers across 10 branches and about $490 million in annual originations, largely conventional loans. Homespire will operate as a division under the name Homespire Home Loans and remain led by Michael Rappaport. NFM extended job offers to Homespire staff and plans to integrate selected products, technology and operational processes to capture synergies.
Read at www.housingwire.com
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