California-based mortgage lender CMG Financial announced the integration of Shamrock Home Loans’ origination team, which will boost its presence in New England.
That’s not the first addition to CMG this year. In March, the company struck a deal to acquire Homebridge Financial Services‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well.
Shamrock‘s chief growth officer Kurt Noyce and president Rod Correia will lead the team of sales and support professionals, which will remain in their current locations. The group will be branded as Shamrock, Powered by CMG Home Loans.
According to Inside Mortgage Finance (IMF) estimates, CMG was the 16th-largest mortgage lender in the country in the first nine months of 2023, with a $16 billion volume, an increase of 17.5% year over year.
As of Nov. 21, the company had 1,826 loan officers and 401 active branches, per the Nationwide Multistate Licensing System (NMLS). It claims that in 2022, it added a net 5% in personnel while most companies saw a net decrease of 24% in workforce.
Shamrock’s team originated about $300 million so far this year, per the mortgage platform Modex. As of Nov. 21, NMLS showed the lender had eight loan officers and 13 branches.
CMG’s CEO Christopher George, who founded the company in 1993, said in a statement the company creates a home for the “nation’s top talent by investing time, money and resources into their origination businesses.”
Correia highlighted CMG’s products as a reason for Shamrock choosing the company. Its portfolio includes construction to perm, renovation financing, builder programs and home equity line of credits, among others.