In a move that will expand the company's production in the Internet retail space, as well as add new sales channels to diversify production opportunities, Seashine Financial, a Southern California-based financial holding company, has completed its acquisition of American Interbanc Mortgage (AIM), a full-service mortgage banker with a focus on the Internet retail channel.
In a release, Seashine officials say the company will consider additional strategic acquisitions. What's more, it will continue to grow organically by leveraging its relationships with existing customers and referral partners, as well as by improving operational efficiency.
AIM is an Irvine, Calif.-based, low cost, ‘A’ paper, direct lender founded in 1998. As an Internet mortgage lender for more than 15 years, AIM is focused on originating loans exclusively over the Internet by advertising on sites such as Bankrate and MSN Money.
Seashine Financial, also headquartered in Irvine, is the financial services investment arm of Seashine Capital, a Shanghai, China-based financial holding company.