AAXA Mortgage LLC enters agreement with bank
Originally published: October 02. 2009 3:01AMLast modified: October 01. 2009 10:07PM
AAXA Mortgage LLC has expanded to a national footprint under an agreement with Illinois-based FNBK.
Under the agreement AAXA is a direct subsidiary of FNBK and will expand its mortgage lending operations under the bank to better serve customers in all 50 states.
The Reverse Mortgage Division is headed up by John A. Smaldone and is located in Maryville.
Smaldone was instrumental in the merger, making the initial introduction and working through the negotiations.
As a subsidiary of a federally-chartered bank, AAXA will double its current footprint and is positioned for rapid growth in the national marketplace.
The loan pipeline is expected to triple above 1,000 within the year and will likely create 150 or more new jobs over the next 18 months, according to Greg Gianoplus, AAXA CEO.
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