American Pacific Mortgage recently onboarded a "large number of originators" from Fairfax, Virginia-based McLean Mortgage, continuing its push to gobble up more market share.
Branches brought over will conduct business as McLean Mortgage, said Bill Lowman, vice chairman of APM, in a statement.
"They will not only carry on the established brand of McLean Mortgage, they will contribute to our aggressive growth plans on the East Coast," he added.
The exact number of branches transitioning and total headcount is unknown, but the group is licensed to originate loans in 13 states, including Maryland and Virginia.
McLean Mortgage Corp., which was founded in 2008, already rebranded its website to note it is a division of the California-based lender.
In the past half year, APM has aggressively expanded its footprint.
In January, the lender announced an asset purchase of Lend Smart Mortgage, while months earlier APM acquired Arizona-based Sunstreet Mortgage, according to Inside Mortgage Finance.
It has also welcomed branches of now-defunct lenders, picking up close to 40 from Finance of America in October and an undisclosed number of employees from AmeriFirst Financial, which stopped funding loans in late December.
Speaking on a Mortgage Pro's 411 podcast in January, Lowman gave some insights into his business strategy in 2023, highlighting his company's focus on market share.
"This is a cyclical business, there's always ups and downs… and how [companies] navigate those transitions are the ones that are going to gain market share," he said. "We have to measure ourselves by not comparing volume because it's going to be way off and instead measure ourselves on market share."
Currently, APM sponsors over 2,000 loan officers, according to the Nationwide Multistate Licensing System, but that number is likely to continue growing. In late January, the company announced that it is open to bringing more employees onboard.
"Independent mortgage bankers seeking a similar divisional opportunity can contact Lowman for more information," APM's press release said.
