Ed Dean has announced the formation of Potomac Mortgage Group LLC, in Reston, Va. The company was founded to address the growing demand for an entrepreneurial mortgage company in the midst of fluctuating markets. Dean brings his dynamic vision to make Potomac Mortgage Group the most innovative mortgage lending company in the Washington, D.C. area. "This economy has created dramatic uncertainty for homeowners," said Dean. "Potomac Mortgage Group has the expertise and state-of-the art capabilities to provide financing solutions for even the most complex situations. Wise borrowing leads to financial security."
Considered an elite industry leader, Dean is former president of George Mason Mortgage LLC (a division of Cardinal Bank) in Fairfax, Va., one of the region's top lenders over the past decade. During his tenure at GMM, the company's annual closed-loan volume grew at an astounding rate, from $50 million in 1993 to $1.3 billion in 2008. Moreover, the company's loan officers produced an average closed-loan volume almost three times the national average. During this time, Dean was ranked one of the nation's top 15 originators for his personal business, originating an average of $183 million in residential loans over the past five years.
Dean created Potomac Mortgage Group in partnership with Fred Brooks, a long-standing peer and colleague. "We recognize the importance and impact of recent industry changes and felt compelled to secure homeowners' long-term financial security," says Brooks. He brings 25 years of mortgage banking experience in management of all financial and secondary mortgage operations. Brooks, Dean and their team of mortgage professionals offer the industry's widest range of loans and loan amounts. "Whether you are a first-time homebuyer, a homeowner looking to move up, an investor in rental property or an individual purchasing a second home, you need a partner you can trust," says Dean. "Our ambition is to help homeowners achieve and sustain homeownership for years to come."
Brooks and Dean are proud to establish a distinctive mortgage company that has world-class technology and the most competitive rates and programs available. All processing, underwriting, and closing is done locally, enabling Potomac Mortgage Group to provide exceptional service that is second to none. This enables Potomac Mortgage Group to close loans in a matter of days, not weeks or months like many of its competitors.
Potomac Mortgage Group is headquartered in Reston, Va., also originating loans in Maryland and the District of Columbia. The company provides FHA, VA, Fannie Mae, Freddie Mac, conforming and non-conforming loan products.
For more information, visit www.potomacmortgagegroup.com.