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NexBank and The Funding Source form NexBank Mortgage

NationalMortgageProfessional.com
Jul 24, 2009

Dallas-based NexBank, a banking and financial services company and commercial mortgage lender in North Texas, announced today the establishment of NexBank Mortgage through a partnership with The Funding Source, a residential mortgage operation in Dallas. The creation of the new residential mortgage division positions NexBank as a multi-faceted mortgage lender in North Texas, an important advancement in the company’s desire to help customers and clients meet all their financial needs. NexBank benefits from The Funding Source’s broad mortgage expertise and long-time retail operation. The Dallas-based mortgage company, which offers several residential loan programs, from traditional mortgages and VA loans to reverse mortgages, operates several field offices with seasoned loan counselors. The Funding Source also has a mortgage technology platform that allows consumers to simplify the mortgage application process online, while still receiving service from local experts. This partnership allows NexBank greater gains of scale in originating loans as it joins its current commercial and wholesale mortgage lending activity with the residential mortgage operation. “NexBank is honored to have the opportunity to build a single operating alliance with The Funding Source and the company’s founder, Tish Ashley. Together we have the capability to offer consumers outstanding knowledge of the local market, expertise in crafting custom loan decisions and assurance to provide mortgages of nearly any amount,” said NexBank president and chief executive officer Davis Deadman. “NexBank is a strong financial institution in North Texas. The combination of The Funding Source and NexBank creates a powerful mortgage franchise,” said Tish Ashley, The Funding Source founder and now vice president, residential mortgage division of NexBank Mortgage. “Our customers will benefit as we offer a more competitive position with faster turn-around as well as the ability to accommodate personal mortgages of nearly any amount, a key area of growth for NexBank.” The new partnership provides The Funding Source with the resources of a strong local lender and the stability of being part of a large and dynamic financial company. “For our company, NexBank Mortgage offers what we believe is the best mortgage platform for our customers and at the same time, The Funding Source customers gain access to the bank’s broad set of financial products including best-in-class savings and deposit services,” said Deadman. “Mortgages are an important relationship product, and NexBank now has the opportunity to better serve our customers and to enhance future profitability. Retail mortgages will be a key area of growth for NexBank.” All employees formerly with The Funding Source will transition to NexBank Mortgage; 14 jobs in total. This brings NexBank’s employee total in its mortgage business lines to almost 40, up from zero at this time last year. The new mortgage division is headquartered at NexBank’s Plano, Texas offices at 5601 Granite Parkway, Suite 120. For more information, visit www.nexbank.com.
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