Merger to combine expertise and double loan volume by the end of 2024
GO Mortgage and PacRes Mortgage have announced plans to merge, aiming to create a more formidable lender and double their combined loan volume.
The merger, expected to close in the third quarter of 2024, will unite the two long-standing firms’ operations as they confront a challenging lending environment where driving down costs is crucial.
“In today’s lending environment, a focus on driving down the cost to originate a loan is critically important, and this merger of two equals creates a single, high-performance platform, giving us a substantial competitive advantage while doubling our loan volume,” said Matt Stashin, CEO and founder of PacRes Mortgage.
The deal will combine GO Mortgage, headquartered in Columbus, Ohio, with PacRes Mortgage, a boutique lender based in Beaverton, Ore., that has specialized in serving the West for over two decades.
“This merger is a strategic move that blends our commitment to outstanding service and community support,” GO Mortgage CEO Michael Isaacs said in a Press release. “By uniting our unique capabilities and resources, we will achieve significant operational improvements and foster innovation.”
Post-merger, Isaacs will lead the combined company as CEO, while Stashin will join GO Mortgage’s board of directors. Melissa Stashin, president and co-founder of PacRes, will become president of the combined company.
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The executive team will also include Eric Wiley, of PacRes, as chief experience officer and Andrew Panagos, of GO Mortgage, as chief operating officer.
“Combining the companies creates new and exciting opportunities for both organizations,” Melissa Stashin said. “This merger represents two culturally-aligned and highly complementary brands joining forces to serve our clients and employee partners better.”
“Together, we look forward to building on the strong foundation of GO Mortgage and PacRes Mortgage to create a truly remarkable mortgage lender that will continue to create significant value for our customers, partners, and employees,” Isaacs added.
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