FT Mortgage Cos. has agreed to acquire Elliot Ames Inc., a small retail mortgage banker based in Los Altos, Calif., according to James B. Witherow, president of the First Tennessee National Corp. unit.

The acquisition gives FT Mortgage, the 11th-largest originator last year, retail presence in California. It already has six wholesale offices in the state. Ames originated $1.7 billion of home loans from five San Francisco-area branches last year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.