San Diego Mortgage Lender

Ellie Mae buys San Diego mortgage software maker

The merger creates a joint venture that will see about a third of the nation's home mortgages flow through the electronic system this year ..

"I founded Ellie Mae to transform the mortgage industry by automating loan origination and driving paper out of the process," said Sig Anderman, CEO and president of Ellie Mae. "The addition of the team impressive Del Mar and customers is an important step for us."

Software del Mar Mortgage is used by over 200 lenders, which are expected to treat 500,000 loans this year.

Ellie Mae (AMEX: ELLI) is acquiring private Del Mar for $ 17.2 million at closing, and payments totaling $ 8 million over the next three years.

Operations remain Del Mar in San Diego and sales, technology and support teams will continue to support customers del Mar.

Jeb Spencer, president of Del Mar, has joined the Board Ellie Mae.Del Mar President Rob Katz was named president Ellie Mae's executive vice president of product strategy.

Ellie Mae said the deal will hurt its earnings this year, but start adding to revenues by the end of 2012. The company reduced its outlook for adjusted net income for the year to 6 cents to 11 cents a share from the previous guidance of 21 cents to 26 cents per share.

The company raised its revenue outlook to $ 51 million to 53 million, against $ 50 million to 52 million.

Since the public in April, from Ellie Mae's traded between $ 4.50 and $ 7.60. The shares have changed hands at $ 5 Wednesday.

San Diego Mortgage Broker

A mortgage broker will get you a loan. A mortgage broker may be authorized either by the California Department of Corporations or the California Department of Real Estate. Mortgage brokers make or buy first mortgages and junior (second) mortgage. A mortgage having a guaranteed loan that is secondary or junior to one or more other loans on the property. Some home loans held by brokers are very similar to a mortgage you could get independently of a bank, savings and loan (S & L), credit union, finance company, or other type of lender .Some brokers offer shorter loan terms and / or different repayment plans.

While many mortgage brokers are out of the company for unfair business practices, sometimes using it has advantages. Like real estate agents, lawyers, and lenders, there are always good, bad and mediocre. If you approach a bank for your mortgage they have a single source of money, whereas a mortgage broker can shop around and you go to the lender that suits your needs and goals.

I recently had the pleasure of meeting Michael Mekler, president of Liberty First Capital.Although I have not personally used his services, it is strongly recommended that some colleagues.

What I really liked is that Michael takes the time to sit down and understand your situation and your goals. So many great lenders simply send you to apply online with little regard to your objectives.

Michael is one of the "old school" service providers, like me, who loves his work and is passonate on customer service. He can be reached at 760-536-6200 or directly mmmekler@LibertyFirstCapital.com.Hopefully I'll make a video with Michael soon to discuss the benefits of a mortgage broker.

To download the DRE using the services of a loan broker click on the image below:

Jeffrey,

You and I share a passion for the recognition of those who truly help others, and I admire that about you. I too am glad you met Michael Mekler, because I worked with him (it is my mortgage broker in-house), and I personally approve.Not only is it the most honest person in business, but he cares deeply about his clients and colleagues, and he is so above everything that is happening in the industry on a daily basis. All my clients who worked with Michael to thank me for removal. You will be impressed!

San Diego Magazine

San Diego Magazine

San Diego Magazine

Business, Its Legal, Ethical, and Global Environment

Mortgage banking