In Brief: Contifinancial Purchases Crystal Mortgage of Ohio

Contifinancial Corporation closed the acquisition of Crystal Mortgage Co. and its subsidiary, Lenders M.D. Inc.

Crystal is a retail mortgage broker and Lenders is a mortgage bank. Both are based in Amherst, Ohio; they work in tandem to originate conforming and B/C nonconforming mortgage loans.

They originate about $15 million per month through a combined retail branch network of 15 offices in Ohio, Kentucky, and Michigan. Crystal and Lenders employ 120 people.

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