Member First Mortgage, a mortgage credit union service organization located in Grand Rapids, Michigan, announced the acquisition of Chattanooga lending company Platinum Financial Funding earlier today.
“The acquisition of Platinum Financial Funding is another example of Member First Mortgage’s commitment to growing and expanding while the rest of the market is shrinking,” said Member First Mortgage president and CEO Jerry Reed. “We are excited to grow our retail division by combining Platinum’s retail expertise and our own technology and operational excellence.”
Platinum Financial Funding, established in 2008, has locations in Chattanooga, Cleveland, Knoxville, Waynesboro, Nashville and Memphis that offer residential mortgage rates throughout the state.
Platinum will serve as Member First Mortgage’s Retail Division.
“Member First Mortgage is one of the largest CUSOs in the nation and has a powerful reputation among real estate professionals, builders and credit unions as a leading mortgage lender,” said Brandon Born, founder of Platinum Financial Funding. “This acquisition will allow us to expand our footprint throughout the southeastern United States under one of the industry’s most reputable names.”