Columbus, Ohio-based GO Mortgage and Portland-headquartered PacRes Mortgage have announced a merger agreement.
The transaction is expected to close in the third quarter, with GO Mortgage CEO Michael Isaacs as the chief executive of the combined company and PacRes Mortgage co-founder and CEO Matt Stashin as a member of the GO Mortgage board of directors. Melissa Stashin, president and co-founder of PacRes Mortgage, will become the merged entity’s president and Eric Wiley, executive vice president and co-founder of PacRes Mortgage as chief experience officer. GO Mortgage President Andrew Panagos will become the chief operating officer.
“This merger is a strategic move that blends our commitment to outstanding service and community support,” said Isaacs. “By uniting our unique capabilities and resources, we will achieve significant operational improvements and foster innovation.”
“In today’s lending environment, a focus on driving down the cost to originate a loan is critically important, and this merger of two equals creates a single, high-performance platform, giving us a substantial competitive advantage while doubling our loan volume,” added Stashin.
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