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FFC Mortgage Corporation, a New York-based lender founded in 1987, has announced the acquisition of University Mortgage. Led by Chief Executive Officer Steven LoBue, the University merger brings more than 20 full-time employees to FFC, and adds an estimated $15 million in monthly closed loan volume to FFC’s existing production.
“We are pleased to add such a productive and talented group to our FFC family," said Doug Reilly, president of FFC Mortgage. "This merger is yet another step in our continually expanding footprint. Steven [LoBue] and his team have established themselves as leaders in their New Jersey marketplace and we look forward to continuing our growth together.”
LoBue brings more than 15 years of industry experience to FFC in all aspects of mortgage sales, management, marketing and start-ups. After the initial onboarding and integration are complete, he and his leadership team of Brian Kelly and Shawn Miller will manage and grow the existing location, begin to pursue additional M&A opportunities, and recruit new branch locations.
"Not only am I looking forward to the new dynamic with FFC, but I am also pleased to be working again with my leadership team of Brian Kelly and Shawn Miller," said LoBue. "As the former partners of One Source Mortgage, we established systems and practices that we are confident will contribute to FFC immediately.”
