Apex Home Loans Inc., a mortgage company founded in 1998 by Eric Gates and Craig Strent and headquartered in Bethesda, Md. is merging its operations with Nationwide Home Mortgage Inc., a Rockville, Md.-based mortgage company founded in 1996 by Stewart Zemil and Michael Parsons. Additionally, the two companies, which both operate as mortgage brokers, are making a major transition in their business model as they convert to mortgage bankers. The merged companies will operate under the name Apex Home Loans Inc. and have relocated into new space in Rockville, Md., with a sales and support staff of about 30 mortgage professionals. All four founders of the two entities will remain with the new company and each bring a specialized set of skills that they believe will make the whole of the new company greater than the sum of its parts.
The combined volume of the two merging entities will make it the largest independent mortgage banking firm headquartered in Montgomery County (by loan volume according to Washington Business Journal research).
“Two plus two equals five in this case and the solid foundation we are building will provide us the opportunity to grow the new entity into the best independent mortgage banking operation in the region,” said Parsons, who co-founded Nationwide Home Mortgage and will serve as chairman of the new company.
“The rapidly evolving regulatory environment favors the model of the independent mortgage banker, and allows us to continue to deliver the competitive rates and exceptional service levels that our discerning customers demand and deserve,” said Strent.