Move expands the company's footprint in Texas
Encompass Lending Group has expanded its operations in Texas by acquiring Austin-based mortgage lender Elite Financing Group.
Encompass, a subsidiary of real estate firm Fathom Holdings, said it has acquired Elite Financing, which will operate under the Encompass Lending Group umbrella. Financial terms were not disclosed.
"I'm thrilled to welcome Elite Financing Group to our Fathom family," Fathom CEO Joshua Harley said. "Joshua Bibler, Jorge Aldrete and their team share our mission and bring local market expertise to Encompass Lending, which should help strengthen our mortgage business in Texas and ultimately enhance our offerings and support our growth. With Elite Financing Group's current book of business and their local relationships, we have the potential to nearly double our mortgage closings nationwide over the next year. We look forward to working together in advancing our growth strategy."
Elite Financing, an equal housing lender, has branches in Austin and Dallas-Fort Worth. The company offers purchase and refinancing mortgage options for veterans and first-time home buyers.
"We are excited to add Elite Financing Group to the Encompass Lending family," Encompass president Sean Varin said in the company's press release. "Their team brings a wealth of experience and well-earned respect in the mortgage industry that will help strengthen our existing presence in the Dallas-Fort Worth market and expand our operations into Austin to ultimately serve more clients throughout Texas. They bring a wealth of experience, knowledge, and a high level of customer service that reflects our culture and complements our existing skillsets."
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"We believe Encompass is a perfect fit for our team during this dynamic moment in the real estate industry," said Joshua Bibler, founding principal of Elite Financing Group. "We are focused on helping home buyers make informed, confident decisions about their mortgage selection and help improve the lives of others through home ownership. For 18 years, we have successfully navigated the ever-changing mortgage industry, never wavering on our commitment to customer service, and we look forward to continuing to provide quality, personalized service that best meets homeowner's needs."
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