CMG Financial forms joint venture for California mortgage market

Lender expands footprint in the state with partnership

CMG Financial forms joint venture for California mortgage market

Privately held nonbank CMG Financial has formed a new joint venture with Seven Gables Real Estate, one of the biggest realty firms in Orange County.

The companies will partner on originations through a new home lender called Primco Mortgage. The California-based JV will leverage Seven Gables’ local expertise and CMG’s proprietary programs including HomeFundIt, a down payment gifting platform, and All In One Loan, a first-lien HELOC program. 

Read more: loanDepot announces joint venture with homebuilder

“By combining the values and strategies of our organizations, we have established a valuable resource for our clients, borrowers and our team of advisors. It is the perfect, symbiotic relationship adding value to our mutual quest of outperforming the competition on every level,” said Mike Hickman, president and CEO of Seven Gables Real Estate.

“As we continue to grow in the joint venture space, we are excited to combine forces with Seven Gables. We have formed a true partnership that pushes the boundaries to build a better mortgage experience for all parties involved. That shared passion will drive the success of Primco Mortgage,” said Chris Harris, senior vice president and national joint venture manager at CMG Financial.