Fortes Financial Inc. has completed the assumption of five regional wholesale offices formerly belonging to National City Mortgage Corp. The offices are located in San Diego; Dallas; Chicago; Fredrick, Md.; and Atlanta. Dallas-based Mortgage Search & Acquisition (MSA) played an integral role in the transaction.
National City's wholesale division closed $17 billion in 2007 before announcing plans to exit wholesale lending at the end of the same year. ‘Fortes engaged us to identify potential retail or wholesale groups that fit within their corporate profile,’ says Tami Coffey, president of MSA. ‘We felt that the National City team was a quality, productive entity that would work well under the Fortes umbrella.’
Source: Fortes Financial