American Eagle Acquires REMC
American Eagle Mortgage Co. (AEMC) acquired Real Estate Mortgage Corp. (REMC), the companies announced Monday. Lorain, Ohio-based AEMC specializes in originating Federal Housing Administration (FHA) and Veterans Administration (VA)-backed mortgages and operates in Ohio, Kentucky and Florida. Acquiring REMC adds the lender's three locations in the greater Cleveland market in Rocky River, Beachwood and Twinsburg to AEMC's operation. The terms of the deal were not disclosed. “We are very excited about the addition of Real Estate Mortgage to American Eagle Mortgage. With this acquisition we now have fourteen locations, extending our presence even further throughout Ohio,” said AEMC president John Schrenkel. REMC president Mark Johnston will assume the role of vice president at AEMC. “Joining forces with American Eagle brings a high level of integrity and professionalism consistent with the stellar service REMC clients expect. We look forward to our continuing relationships in that vein,” he said. Write to Austin Kilgore.