Equity Loans has announced that it has changed its name to Equity Prime Mortgage. The new name reflects Equity Prime Mortgage’s recent expansion into the wholesale and correspondent lending markets, as well as the company’s plans for future growth. Equity Prime Mortgage is licensed in 41 states and will continue to operate as Equity Home Capital in New York.
“While the name Equity Loans has served us well, the transformation to Equity Prime Mortgage was sparked by our company’s expansion into new markets and our plans for the future, as we want our name to reflect that change and new divisions of the company,” said Kunjan “KP” Patel, CEO of Equity Prime Mortgage. “After evaluating this decision with several of our customers and employees, we know this is a step in the right direction. We look forward to this new chapter and while our name has changed, we assure our customers that Equity Prime Mortgage will continue to serve them as the same lender they have come to know and trust.”
The name Equity Loans was established when the company was founded in 2008, and over the years, the lender has grown from just a few branches to one of the top residential lending institutions in the country. The company entered the wholesale market in June 2013 and the correspondent lending market in December 2013. In addition to establishing a dedicated wholesale team for this new channel, Equity Prime Mortgage established two new executive positions, naming Brian Gillespie and Felix Ortiz as vice presidents of the Third Party Originator (TPO) Production Channel.
“Equity Prime Mortgage remains committed to providing services, benefits and programs that are unmatched in the industry to ultimately help more families and individuals achieve their dreams of homeownership,” said Eddy Perez, president of Equity Prime Mortgage. “We offer borrowers, brokers and lenders the strength and security of a forward-acting national mortgage banker, dedicated to excellence and client service.”