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Mid America Mortgage Inc. Owner and Chief Executive Officer Jeff Bode, and Houston-based Affinity Lending Solutions LLC President and Chief Executive Officer Scott R. Valby have announced their intention to integrate Affinity’s production operations and branch network into Mid America’s mortgage platform. As part of the transaction, Mid America will acquire an interest in Affinity’s pipeline and certain assets, and offer employment to the employees in Affinity’s 14 origination centers.
Mid America is a mortgage banking company primarily engaged in the business of originating, selling, and servicing residential mortgage loans. Bode has a demonstrated history of success, having managed three financial services companies and a mortgage software company during his career. Since its formation in the 1940s, Mid America has created a substantial footprint in the mortgage industry as a nationwide lender licensed in over 40 states with more than 300 employees.
Bode anticipates substantial cost savings from combining the two organizations. Cost reductions will come from a variety of sources, including the reduction of overlapping technology and the cost-effective management of vendor relationships and marketing expenses.
Further, the utilization of Mid America’s proprietary software system, Mortgage Machine, will open doors for Affinity’s operations staff. In addition, Affinity is expected to benefit by leveraging Mid America’s broad product set to deepen relationships with existing Affinity customers. Similarly, Mid America is expected to benefit from the 21st century marketing strategies currently employed by Affinity with realtors, builders, and affinity groups across the country.
“We are very excited about the transaction and are looking forward to providing Affinity’s clients with outstanding customer service,” said Bode. “We are working hard to avoid any disruption to Affinity’s customers and will work in collaboration to ensure a smooth transition, while vigorously protecting the pipeline we acquired.”