Frost Mortgage Banking Group has entered into an arrangement to operate as a division of Primary Residential Mortgage Inc. (PRMI). Frost Mortgage Banking Group currently employs 27 mortgage professionals and operates offices in New Mexico, Arizona and Utah.
According to the companies, the arrangement allows Frost Mortgage to focus on borrower relationships, while PRMI provides a platform of financial and operational support.
In the agreement, Frost Mortgage will have access to PRMI's support services (accounting, branch relations/training, compliance/licensing, human resources, information technology, marketing and quality control) and retail operation services (secondary marketing, underwriting/risk management, escrow, investor relations/purchasing and document control).