VIP Mortgage, one of Northern Massachusetts and New Hampshire's largest lenders, has joined Drew Mortgage Associates, Central Massachusetts's largest privately-held lender for the past 18 years to form a mortgage powerhouse.
"With the addition of VIP's six branches and 25 loan originators to Drew's growing market presence throughout New England, we are poised to capture business in more areas than ever before," said Wayne Rawan, Drew's CFO and co-owner of Drew Mortgage Associates along with brothers Bruce and Douglas.
"The VIP family is excited about the marketing, technology and lending opportunities and products that Drew brings to our group," said Greg Deschenes, president of VIP Mortgage.
The combined organization will cover every New England state, as well as Florida.
Drew's presence in Massachusetts and New Hampshire has also been enhanced by the Drew Mortgage Radio Show broadcast six days a week throughout New England on WCRN AM 830, also the home of the Howie Carr and Peter Blute shows.
"This transaction with VIP is the beginning of an aggressive expansion that we had planned," said Douglas Rawan, host of the Drew Radio Show. "We continue to move forward in hiring loan originators that are not satisfied with the support, technology and product offerings that the companies they currently work for offer."
The two companies are currently in the process of transferring licensing and combining operations and systems and continue to operate as separate entities pending completion of those processes.