ST. LOUIS A.G. Edwards & Sons Inc. announced Monday that it had begun offering home mortgage services through an alliance with Nexstar Financial Corp., a St. Louis Internet company that originates residential mortgage loans through corporate and co-branded relationships.
A.G. Edwards clients can apply for a mortgage 24 hours a day through a Nexstar/A.G. Edwards Web site or a toll-free number. Decisions can be obtained within minutes and loans closed in 10 days, A.G. Edwards said.
The loans are available in 43 states, and other states will be added in the coming weeks, the company said. The loans are originated and serviced by Nexstar, a company formed in 1999 by a team of mortgage industry executives in partnership with Kohlberg Kravis Roberts & Co.
