Matrix Bancorp Inc. of Denver said it had sold certain assets of its Matrix Bancorp Trading Inc. to a limited liability company co-founded by its former employees.
The buyer, SN Capital Markets LLC, was recently co-founded by several former Matrix Bancorp Trading employees, including former president Chris Rooker, who is now the venture’s president. Another partner is Security National Holding Co. LLC, Eureka, Calif., company specializing in loan acquisitions and real estate development.
Matrix Bancorp Trading provides brokerage and consulting services to the mortgage industry, including the brokering, acquisition and analysis of loans and mortgage servicing rights. Its 31 employees have joined SN Capital.
The $1.33 million cash sale was announced Monday. Also, Matrix Bancorp received a $2.8 million promissory note from SN Capital Markets and Security National. The note is guaranteed by those two companies’ ultimate parent, Security National Master Holding Co. LLC, which Matrix Bancorp said holds other substantial assets.
Matrix also said it agreed not to compete with or have any ownership interest in any Colorado business similar to SN Capital Markets’.
Matrix Bancorp, which plans to change its name to United Western, has said it has decided to focus on developing its community banking network through its Matrix Capital Bank, which has branches across Colorado’s Front Range.
Also Monday, Matrix Bancorp said that MTXC Realty Corp., a real estate brokerage unit, has agreed to sell certain assets, including almost all its operating assets, to Metrowest Real Estate Solutions.
Matrix did not say how much those assets would fetch. MTXC operates exclusively in the Denver area. Its 10 full-time employees are expected to join Metrowest.
That deal also provides for the termination of MTXC’s exclusive brokerage agreement with First American REO Services, in which MTXC was the exclusive agent for First American REO for real estate listings in the Denver area.
