ABFS acquires ESI MortgageMortgagePress.comABFS,ESI Mortgage,Acqusition
American Business Financial Services (ABFS) has acquired certain
assets of their client ESI Mortgage. Fifteen-year-old mortgage
brokerage firm ESI will benefit from the immediate conversion to
mortgage banker, product mix and pricing advantages that ABFS will
provide in this all-cash, secured-note transaction.
ESI Mortgage will operate under ABFS subsidiary Home American
Credit Inc. d/b/a Upland Mortgage. ESI president Lisa Kelly was
named senior vice president of Home American Credit and will help
build its operation in Texas.
"We are very happy to join the ABFS organization and view it as
a great opportunity to build on the core values of ESI--those of
real service, fast closings and a focus on broker relationships,"
said Lisa Kelly. "ABFS will help fuel our growth through its
patent-pending EasyLoan Advisor loan structuring system, its
mortgage warehouse facilities and its broad array of products."
For more information, visit www.esimortgage.com or www.abfsonline.com.