""Carrington Mortgage Services, LLC,"":http://www.carringtonms.com/webapps/cms/index.do is expanding via newly acquired assets from ""American Home Equity Corp. (AHE)"":http://ahedirect.com/. Focused on growing its origination component, Carrington structured its purchase deal with AHE to enhance the company's wholesale retail channel.[IMAGE]
Carrington's acquisition is geared to establish high levels of service and credit standards in its wholesale originations operations through the addition of AHE's assets and key personnel.[COLUMN_BREAK]
In a company statement, Carrington noted AHE's $1 billion originations over the last two years, as well as the companies' complimentary business practices and quality commitment.
Commenting on the news, Carrington's EVP of mortgage lending, Steve Patton, said, ""The overall sales culture is a good fit with CMS and is based upon the delivery of a customer-centric value proposition. This addition will provide Carrington with an immediate proven foundation to launch our wholesale origination model on a nationwide basis.""
Industry experts set to join Carrington's team following the purchase include AHE's president, Alan Pott, and his team of more than 40 wholesale lending professionals.
Of the staffing changes, Carrington Holding Company's CEO Bruce Rose, stated, ""We are very pleased to have these experienced professionals join the Carrington family of companies.""
Both Carrington and AHE are based in California, and while Carrington is well known as a lender and servicer, AHE also possesses an established reputation for its focus on residential financing of agency, government, and non-conforming loan programs.