CMG Financial, a mortgage banking firm headquartered in San Ramon, California, announced its retail acquisition of Norcom Mortgage of Hartford, Connecticut.
The financial terms of the acquisition were not disclosed. The integration of Norcom Mortgage marks CMG’s fourth addition within the past year, and the company said the addition of Norcom’s 25 branches will enhance its northeastern presence from Maryland to Maine.
“Norcom Mortgage has made the strategic decision to focus on and continue to grow our wholesale platform as TPO GO,” said Norcom President Phil DeFronzo. “We are very excited to have our amazing group of retail originators join the CMG family. CMG’s superior marketing platforms, technology, and product menu will enable our team to thrive and provide the best customer service in the industry.”
“I’m excited to welcome the team at Norcom to the CMG family,” said Chris George, CEO and president of CMG. “Phil and I both started our companies with similar roots and a shared passion to give more home buyers access to homeownership. Thirty years later, we’re still living out our dreams by helping buyers and owners alike achieve theirs.”
