San Diego-based Bexil American Mortgage Inc. has completed its acquisition of Castle Mortgage Corp., a full-service mortgage lender headquartered in Birmingham, Ala. Terms of the transaction were not disclosed.
Founded in October 2011, Bexil American Mortgage and its wholesale channel, American Mortgage Network, are licensed in 17 states. Castle Mortgage is approved in nine states.
‘Castle Mortgage adds significant depth and flexibility to our capabilities as we grow our company,’ says John M. Robbins, CEO and president of Bexil American Mortgage. ‘Their seller-servicers approvals with Fannie Mae, Freddie Mac and Ginnie Mae will accelerate our entrance into the retail market and provide a competitive advantage for our mortgage broker customers. We're delighted to welcome the Castle Mortgage team.’