A pair of mortgage lenders announced a “strategic alignment” to enable the combined company to offer residential home loans across the country. Go Mortgage, which has an established presence in the Midwest and on the East Coast, entered into an agreement with Pacific Residential Mortgage (PacRes), which primarily serves the Pacific Northwest, under the “Go Mortgage” brand.
Upon the merger’s completion, Go Mortgage would maintain its headquarters in Columbus, Ohio, and expand its national footprint to the West Coast. The move is intended to leverage the technological capabilities and other strengths of the two organizations to offer enhanced services for borrowers, business partners and team members, according to a press release.
“This merger represents a significant step forward in our mission to create a best-in-class mortgage company,” Go Mortgage CEO Michael Isaacs said in the release. “With PacRes’ strong foundation in the Pacific Northwest and our well-established presence in the Midwest and East Coast, we are uniquely positioned to serve customers across the country. Our combined resources and new high-tech solutions — such as automated underwriting, pre-approvals, and disclosures — will drive efficiencies, enhance the customer experience, and support the next phase of our growth.”
The entities expect the merger to result in cost efficiencies and higher lending volumes, enabling more competitive pricing and an expanded product offering. They also expect to benefit from a “robust leadership team, bringing together the best of both companies to drive future success,” according to the release.
“By joining forces, we are combining our complementary strengths and creating a platform that can scale nationally while still maintaining the personal, relationship-based service our customers and partners value,” PacRes President Melissa Stashin said. “Together, we’re not just merging companies; we're building a vision for the future of mortgage lending.”
Stashin has been named president of the combined company.