SAN DIEGO--()--Bexil American Mortgage Inc., a majority-owned subsidiary of Bexil Corporation (BXLC), today announced the close of the acquisition of Castle Mortgage Corporation, a full service mortgage lender operating throughout the Southeast. Terms of the transaction were not disclosed.
“Castle Mortgage adds significant depth and flexibility to our capabilities as we grow our company”
Bexil American Mortgage and its wholesale channel American Mortgage Network have been expanding rapidly across the United States. Founded in October 2011, the company is now licensed in 17 states. Castle is approved in nine states.
“Castle Mortgage adds significant depth and flexibility to our capabilities as we grow our company,” noted John M. Robbins, CEO and President of Bexil American Mortgage. “Their seller-servicers approvals with Fannie Mae, Freddie Mac, and Ginnie Mae will accelerate our entrance into the retail market and provide a competitive advantage for our mortgage broker customers. We’re delighted to welcome the Castle Mortgage team.”
“We’re excited to be joining the Bexil American team,” added George Hawkins, President of Castle Mortgage Corp. “Like us, they have deep roots in the mortgage business and we share a culture and tradition focused on providing the right loans for our customers.”
About Bexil American Mortgage Inc. and American Mortgage Network
Headquartered in San Diego, California, Bexil American Mortgage is an independent mortgage banking company formed by the Robbins Group and Bexil Corporation. Its wholesale channel, American Mortgage Network, is focused on serving the specific needs of the mortgage broker community. For more information, please visit www.amnetwholesale.com or www.bexilamerican.com.
About Bexil Corporation
Bexil Corporation (BXLC) is a holding company engaged through subsidiaries in investment management, securities trading, and mortgage banking. To learn more, please visit: www.bexil.com
About Castle Mortgage Corporation
Headquartered in Birmingham, Alabama, Castle Mortgage Corporation is a full service mortgage lender operating throughout the Southeast. Castle's founders have over 100 years of experience in all phases of mortgage banking, with roots dating back to 1966.