In the latest in a string of mergers and acquisitions in the mortgage lending space, American Mortgage Service Co. and Eustis Mortgage announced this week that they plan to merge.
Eustis Mortgage is headquartered in New Orleans, Louisiana and has been in business since 1956 and its companies include: Finance Home America, Verity Mortgage, Legacy Mortgage, and Prosperity Mortgage Advisors.
American Mortgage Service Co. was founded in Cincinnati in 1975 and has grown into a multi-state lender with more than 40 locations.
The companies state in a release that they view the merger as a mutually beneficial opportunity.
“We are excited about the chance to put together two great companies who share long successful histories celebrating the customer experience, a focus on serving first-time home buyers, and employee satisfaction,” said Bill Case, President of AMS.
“There are lots of mergers and acquisitions that take place in our business, but it is very difficult to find ones where the cultures are so similarly aligned,” Case added.
“There are lots of mergers and acquisitions that take place in our business, but it is very difficult to find ones where the cultures are so aligned like this,” Case continued.
“We are thrilled at the opportunities that this larger and stronger company will provide for our customers, employees and business partners,” Case said. “We are thrilled at the opportunities that this larger and stronger company will provide for our customers, employees and business partners.”
According to the companies, they plan to relaunch as a combined company later in the year.
“The culture at our company has always been defined by the exceptional people that make it all happen, a commonality that both companies share intimately,” said Kate deKay, CEO of Eustis Mortgage.
“To that end, with both companies recent record breaking volume, now was the perfect time for us to come together and expand. Our completely digital platform is built for our clients and referral partners and has proven we can grow our business,” deKay said. “We are now positioned to be the last stop destination for elite producers that want to be able to control the outcome of their careers.”
Financial terms of the deal were not disclosed.