Weststar Mortgage Corporation will soon merge with Goldwater Bank after acquiring the company through stocks.
According to housingwire.com, Weststar Mortgage Corporation's president and owner Kent Wiechert said "We are very excited about this new acquisition, and look forward to offering our clients even more products and services through our new relationship with Goldwater Bank." In return, Goldwater Bank's president Julie Merhege is positive with the two companies' new found partnership. Julie said "We're excited to pair our commercial bank platform with Weststar's mortgage business and bring our unique approach in banking to even more customers."
Weststar Mortgage Corporation is established in 1983 at Albuquerque, New Mexico and started to offer mortgage loans in the early 1990s. The company has catered over 30 states "covering nearly every market outside of the Eastern Seaboard." This year, the company is expected to gain new loan origination of more than $1 billion. Weststar also grant private and agency loans giving out more than $2 billion- worth of loans in more than 30 states across the United States of America.
Scottsdale, Arizona- based Goldwater Bank caters different financial services for different aspects of their client's needs. The bank also calls it as "lifestyle banking."
The partnership of two companies dated back a year ago when they sent a letter to the Office of the Comptroller of the Currency to allow Wiechert to purchase Goldwater Bank and it was later approved last August.
In a report by virtual-strategy.com, the provisions of the agreement includes the combining of Weststar Mortgage origination channel to Goldwater's existing mortgage division. Wiechert said "By the time we've fully executed the plan submitted to the OCC the two companies will employ more than 600 professionals spanning 40 states and all aspects of the banking, lending and loan servicing disciplines. This marks a new adventure for both companies, allowing us to offer even more value to clients and customers nationwide."
