Rockville, Md.-based lender Mason Dixon Funding has been absorbed by Newport, R.I.-headquartered Embrace Home Loans. The terms of the agreement were not disclosed.
Founded in 1996 as an independently owned lending operation, Mason Dixon Funding has more than doubled its origination volume each year. The company currently has nine retail branches located in Maryland, Virginia, the District of Columbia and Delaware, and more than 150 employees. The principal owners will remain and report to Embrace Home Loans' president, Kurt Noyce, and its CEO and founder, Dennis Hardiman.
"Mason Dixon has strong ties to the community, complemented by experienced award-winning loan officers," says Noyce.
"What attracted our organization to Mason Dixon, however, were the similarities in the way we approach customer service," he continues, adding that both organizations' customer referral ratings average 98% year over year.
SOURCE: Embrace Home Loans