An East Brunswick-based mortgage lender has been acquired by an Ohio-based firm, according to a news release Thursday.
CrossCountry Mortgage LLC, a national lender based in Brecksville, acquired the assets of First Choice Loan Services Inc., a Berkshire Bank company, the Ohio firm announced.
“We explored our options with several other companies, but CCM stood out,” First Choice Executive Vice President Norman Koenigsberg said in a prepared statement. “(CEO Ron Leonhardt) and his leadership team made this process transparent and clear. We laid out a roadmap for success in our first meeting, and CCM never deviated from it. To my knowledge, this is one of the first successful bank-to-non-bank integrations following the passage of the Economic Growth, Regulatory Relief and Consumer Protection Act.”
First Choice is noted for its mortgage program for Costco members, and EVP Bill Schneider noted that the program will continue under CCM.
Financial terms of the deal were not disclosed.
