Acquisition will see full integration under NAF brand
Independent mortgage lending giant New American Funding (NAF) has announced it is acquiring the residential mortgage arm of financial and real estate services provider Draper and Kramer, to be integrated under the NAF brand with employees transitioning on February 1.
The deal for Draper and Kramer Mortgage Corp. (DKMC), revealed this morning, is set to bring a majority of loan originators and other operations and support staff to NAF from DKMC. NAF described it as a move that would strengthen the company’s presence in key regions and allow it to deploy experienced DKMC staff in current open roles.
NAF co-founder and chief executive officer Rick Arvielo said DKMC’s reputation within the mortgage industry “aligns perfectly with our mission to provide top-notch service to our clients.”
He said the agreement reflected NAF’s focus on growth and customer service, and that the staffing additions from DKMC would “bring a wealth of knowledge and experience to our team.”
“As a company, we are always looking for ways to expand and improve our services,” he said. “This strategic move will allow us to expand our footprint and better serve clients in the Midwest and East Coast regions.”
Draper and Kramer was founded in 1893, and holds the US’s oldest active Federal Housing Administration license. In addition to its soon-to-be-offloaded mortgage arm, the company provides real estate services in rental management, commercial financing, commercial management, and acquisitions and development.
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.