American Pacific Mortgage has acquired the assets of Lend Smart Mortgage, LLC, a Minnesota-based lender.
The transaction was announced on Jan. 26. The terms were not disclosed, but Lend Smart will retain its name and brand, as well as its leadership, American Pacific said in a statement.
Lend Smart will be able to leverage APM’s suite of specialty mortgage products, as well as its technology.
Lend Smart Mortgage is licensed in 29 states, adding strong production outlets in both Minnesota and Arizona, along with branches in “key areas” for APM.
Bill Lowman, CEO of APM, said the company has attracted several well-known and established companies like Lend Smart that “fit with our core values and want to plug into the APM engine and all we have to offer, without losing their identity.”
These firms also provide production outlets in areas where APM is actively growing, he said.
APM is headquartered in Roseville, Calif. It is ranked as a top mortgage lender in the U.S. and is licensed in 49 states.
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