American Pacific Mortgage (APM) announced Jan. 26 that it had acquired the assets of Lend Smart Mortgage LLC, based in Shoreview, Minn.
Terms of the transaction were not disclosed, but APM said Lend Smart Mortgage will retain its name, leadership, and brand.
Lend Smart Mortgage is licensed in 29 states, adding production outlets in both Minnesota and Arizona, along with branches in key areas for APM, the company said.
“Through our divisional model, APM has experienced exponential growth over the past two years,” said Bill Lowman, APM CEO. “We’ve attracted several well-known and established companies like Lend Smart Mortgage that fit with our core values and want to plug into the APM engine and all we have to offer, without losing their identity.”
In addition, Lowman said, Lend Smart provides “production outlets in areas where APM is actively growing. We see Lend Smart as the perfect fit with our company culture and look forward to joining forces.”
Lend Smart CEO Scott Flaherty said his company is proud to partner with APM.
“Our success and growth over the years has been built on our culture and the ability to provide our originators with unmatched service and support,” Flaherty said. “Through the partnership with APM, Lend Smart retains that culture, along with our name and the majority of our staff, but can immediately add a suite of unmatched products, improved pricing, industry expertise, and market presence. We look forward to this market and the opportunities it presents by teaming with one of the country’s most dynamic lenders in American Pacific Mortgage.”
APM said it has strategically expanded its footprint across the U.S. through acquisitions and other partnerships, while passionately supporting the growth of its existing network of branches.
Founded in 1996 and based in Roseville, Calif., APM is a national retail mortgage lender licensed in 49 states, with over 300 branches employing more than 3,600 people.
