New American Funding (NAF), an independent mortgage lender headquartered in Tustin, California, announced plans to acquire Draper and Kramer Mortgage Corp. (DKMC), a subsidiary of Chicago-based Draper and Kramer Holding (DKH), a financial and real estate services provider.
The financial terms of the deal were not disclosed. DKMC will be rebranded as NAF and a majority of DKMC’s loan originators plus operations and support staff will become part of NAF.
NAF stated the acquisition of DKMC will expand its presence in the Midwest and along the East Coast.
“We are thrilled to welcome Draper and Kramer’s mortgage division to NAF,” said New American Funding co-founder and CEO Rick Arvielo. “Their reputation as one of the best mortgage companies in the nation aligns perfectly with our mission to provide top-notch service to our clients. This acquisition is a testament to our focus on growth while helping our customers achieve their dreams.”
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