RPM Mortgage Inc. Acquires New England-based Regency Mortgage Corp.
Bay Area-Based Private Mortgage Lender Expands to East Coast
ALAMO, Calif. – September 19, 2014 – RPM Mortgage Inc. (RPM), a leading private mortgage lender, today announced that it has acquired Regency Mortgage Corporation, a fast-growing, 14-branch private mortgage lender with operations in New Hampshire, Maine, Massachusetts, Vermont, and Florida.
The Regency acquisition expands RPM’s regional footprint to the East Coast. RPM’s strength and stability will provide Regency loan originators with access to a larger menu of loan products, in addition to robust technology and compliance support. The combination of the two independent lenders will provide both RPM and Regency loan originators with attractive pricing options for their customers. In 2013 RPM funded $5.9 billion and Regency funded $505 million in residential home loans. Regency will continue to operate under its current brand and its operations will remain local.
RPM CEO Rob Hirt comments on the acquisition. “Higher compliance costs are an unfortunate reality of today’s mortgage lending environment. This creates a challenge for independent mortgage lenders to remain price-competitive and provide quality loan products. The combination of RPM and Regency will enable us to service our respective markets and provide the best possible loans for our customers,” said Hirt. “Regency is a natural fit for the RPM family, and we look forward to helping homeowners on both the East and West Coasts to meet their financial and real estate goals.”
Other similarities of the two independent lenders include the fact that they are both led by their founders. RPM is owned and operated by founders Rob and Tracey Hirt, and Regency is owned and operated by founders Quentin Keefe and Maureen Lemay. Keefe and Lemay will continue in their present positions.
Both organizations place a high level of priority on their employees and their company cultures. Quentin Keefe, CEO of Regency said, “RPM believes as we do, that if you hire great people and create an environment that empowers and respects them, good things will follow. RPM’s financial strength will afford us the opportunity to continue to grow our brand throughout New England and provide a quality place of employment for our employees.”
Regency Mortgage Corporation was founded in February 1996 and is headquartered in Hooksett, New Hampshire. Business New Hampshire Magazine named Regency as the third fastest growing company in 2014. Regency offers a particularly vast array of mortgage products including conventional loans, jumbo loans, FHA, VA and RD (Rural Development) financing, rehabilitation loans, construction loans and portfolio loans.
To continue on this growth trajectory, RPM’s primary strategy is to continue to seek out like-minded, retail only, independent mortgage companies where they feel that they can best serve homeowners, such as the Northeast, Southeast, Texas and Chicago.
About RPM Mortgage Inc.
Based in Alamo, California, RPM Mortgage Inc. is a private mortgage lender. Since 1986, trust, knowledge and community focus have been the core values upon which RPM has built a reputation as a trusted mortgage lender. Scotsman Guide ranked RPM as the No. 5 mortgage lender in Top Retail Volume and No. 14 in Top Overall Volume for 2013. In addition, RPM is the only privately owned U.S. mortgage originator to have earned Standard & Poor’s (S&P) Above Average ranking in all ratings categories and was also named one of S&P’s Select Servicers in 2014. RPM services more than $3 billion in loans and their footprint of nearly 60 branches serves communities across Arizona, California, Colorado, Nevada, Oregon, Texas and Washington. For more information, please visit www.rpm-mtg.com, call 925-295-9300, or follow @RPMMortgage.
RPM Mortgage, Inc. | 3236 Stone Valley Road West, Alamo, CA 94507 | NMLS #9472 | AZ – Arizona Mortgage Banker License #0924551. CA – California Bureau of Real Estate, Real Estate Broker License #01818035. CO – Regulated by the Division of Real Estate #9472. NV – Nevada Mortgage Broker License #1232. OR – Oregon Mortgage Lending License #ML-4876. TX – Regulated by the Department of Savings and Mortgage Lending #9472. WA – Washington Consumer Loan Company License #CL-9472. | Equal Housing Opportunity.
26 Londonderry Turnpike, Hooksett, New Hampshire 03106
Licensed by New Hampshire Banking Department, NMLS # 1938 | ME license # SLM3129
MA license # MC 1938 | Vermont Lender # 6207 | FL license # MLD476 | CT license # ML 1938