• New American Funding’s purchase of mortgage company Draper and Kramer Mortgage Corp. (DKMC) is a trendsetter.
• This bold move not only leads to an expansion of New American’s footprint in Midwest and East Coast regions but also allows them to hold onto a good number of DKMC’s ace loan originators plus its support staff.
• New American is in the mood for a game of Risk, seeking the conquering of new territories and sectors—quite the strategy!
• The acquisition is expected to help New American serve a more diverse demographic, extend its customer base, and increase overall company revenue.
• Draper and Kramer Mortgage Corp. comes with a handsome portfolio value of $29 billion, adding to New American’s assets and financial ‘street cred’.
• Goodbyes are hard! Not to worry though, New American will keep the majority of the DKMC team, and the company culture won’t skip a beat.

New American’s Strategic Acquistion: A Classic Case of Gobble-Gobble!

Overview

New American Funding Buys Mortgage Company DKMC

In this exciting episode of “Let’s Make a Mortgage Deal”, our protagonist New American Funding acquires Draper and Kramer Mortgage Corp, entering new territories and promising to shake up the Midwest and East Coast regions like an earthquake on a Snoopy snow globe. Brace yourselves – there’s an acquisition avalanche on the horizon!

Making the Most of Existing Resources

In a wise and resourceful move that would make squirrels green with envy, New American Funding manages to bag not just a company but its seasoned vets as well. It’s like buying a pie and getting the recipe too! Go New American, showing us all how to have our cake and eat it, too.

Increase in Assets, increase in Street Cred

By taking control of Draper and Kramer Mortgage Corp.’s sexy portfolio of $29 Billion, New American Funding is not just fattening their wallet but also making a statement. Reserving a VIP spot on the Wall Street’s favourite companies list, anyone?

To wrap this mortgage merrimento with a bow, our home-grown hero New American Funding, in a masterstroke of a decision, has decided to keep a good portion of Draper and Kramer Mortgage Corp.’s team, rather like adopting an entire clan of well-trained pets along with a new mansion. They get to serve new demographics, increase their revenue, and gain a few brownie points in the market. To this, we say, well played, New American, well played!

Let’s just hope they don’t now go on an ego trip, becoming the real estate equivalent of that high school jock who peaked too soon. But until then, we say a hearty ‘Cheers and Mazel Tov!’ to NA’s strategic maneuver. Stay tuned for the next exciting episode of “Real Estate Rumble”.

Original article: https://www.inman.com/2024/02/01/new-american-funding-acquires-draper-and-kramer-mortgage/