WALNUT CREEK, Calif. -- Finet Holdings Corp., a mortgage broker and franchiser, has agreed to acquire Diversified Capital of San Jose. Finet now operates from 13 offices in three states.
It acquired RPM Mortgage, a large San Ramon, Calif., mortgage brokerage firm, on Aug. 3 1. On a consolidated basis, Finet and RPM closed approximately $750 million in mortgage loans in 1993.
Harry Kraatz, chief executive of Finet Holdings, said, "The [RPM and Diversified] alliances are significant steps in implementing Finet Holdings' strategy to develop a large national retail loan origination system through franchising."