NORTH PALM BEACH, Fla. - CFI Mortgage Inc. said Wednesday that it had acquired PMC Mortgage Co. of Evansville, Ind., a subprime originator.PMC markets loans to consumers with tarnished credit through telemarketing and direct mail. It originated slightly more than $175 million last year.
PMC has call centers in Evansville, Grand Rapids, Mich., and Asheville, N.C., and eight origination offices. It is licensed in 42 states and has 225 loan officers. PMC's founder, Gary Fioretti, will stay on as president and chief executive officer.