Key Takeaways:
– CMG Financial has integrated Shamrock Home Loans’ origination team, expanding its presence in New England.
– This is not the first addition to CMG this year, as they previously acquired Homebridge Financial Services’ retail division.
– Kurt Noyce and Rod Correia from Shamrock will lead the sales and support team, which will remain in their current locations.
– CMG was the 16th-largest mortgage lender in the country in the first nine months of 2023, with a $16 billion volume.
– CMG had 1,826 loan officers and 401 active branches as of Nov. 21.
– Shamrock originated about $300 million in loans this year and had eight loan officers and 13 branches as of Nov. 21.
– CMG’s CEO Christopher George values investing in origination businesses and attracting top talent.
– Shamrock chose CMG for its range of products, including construction to perm, renovation financing, and home equity line of credits.
HousingWire:
California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England.
That’s not the first addition to CMG this year. In March, the company struck a deal to acquire Homebridge Financial Services‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well.
Shamrock‘s chief growth officer Kurt Noyce and president Rod Correia will lead the team of sales and support professionals, which will remain in their current locations. The group will be branded as Shamrock, Powered by CMG Home Loans.
According to Inside Mortgage Finance (IMF) estimates, CMG was the 16th-largest mortgage lender in the country in the first nine months of 2023, with a $16 billion volume, an increase of 17.5% year over year.
As of Nov. 21, the company had 1,826 loan officers and 401 active branches, per the Nationwide Multistate Licensing System (NMLS). It claims that in 2022, it added a net 5% in personnel while most companies saw a net decrease of 24% in workforce.
Shamrock’s team originated about $300 million so far this year, per the mortgage platform Modex. As of Nov. 21, NMLS showed the lender had eight loan officers and 13 branches.
CMG’s CEO Christopher George, who founded the company in 1993, said in a statement the company creates a home for the “nation’s top talent by investing time, money and resources into their origination businesses.”
Correia highlighted CMG’s products as a reason for Shamrock choosing the company. Its portfolio includes construction to perm, renovation financing, builder programs and home equity line of credits, among others.
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Property Chomp’s Take:
Recently, California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, a move that will strengthen its presence in New England. This follows CMG’s acquisition of Homebridge Financial Services’ retail division earlier this year, aimed at expanding its retail lending business.
The addition of Shamrock Home Loans’ origination team will be led by their chief growth officer Kurt Noyce and president Rod Correia, who will remain in their current locations. The team will continue to operate under the Shamrock brand but will be powered by CMG Home Loans.
CMG Financial has been steadily growing its mortgage lending business, with a 17.5% year-over-year increase in volume. According to Inside Mortgage Finance estimates, CMG was the 16th-largest mortgage lender in the country in the first nine months of 2023, with a total volume of $16 billion.
With 1,826 loan officers and 401 active branches, CMG Financial has positioned itself as a leading player in the industry. Despite challenging market conditions, CMG Financial has managed to increase its personnel by 5% in 2022, while other companies experienced a significant decrease in their workforce.
Shamrock Home Loans, on the other hand, has originated approximately $300 million in loans this year. With eight loan officers and 13 branches, Shamrock brings its expertise and experience to CMG Financial, further strengthening their position in the market.
CMG Financial’s CEO Christopher George emphasized the company’s commitment to nurturing top talent by investing in their origination businesses. This approach has allowed CMG Financial to attract and retain the best professionals in the industry, ensuring the delivery of exceptional service to their clients.
One of the reasons Shamrock Home Loans chose CMG Financial is its diverse portfolio of products. CMG Financial offers construction to perm loans, renovation financing, builder programs, and home equity lines of credit, among other options. This extensive range of products gives borrowers more choices and flexibility when it comes to financing their homes.
In conclusion, the integration of Shamrock Home Loans’ origination team into CMG Financial will undoubtedly strengthen the company’s presence in New England. With its commitment to top talent and diverse product offerings, CMG Financial continues to position itself as a leading mortgage lender in the industry. The power of
