Panorama Mortgage Group (PMG) announced that Rely Home Loans has joined the PMG family and that Manfret Roesner will lead the company as president. Rely Home Loans is a full-service mortgage lender currently serving Utah, with plans to expand into Florida and Arizona.
Commonwealth Capital announced the acquisition of substantially all assets of Frankel Financial Corp. and Excel Financial Corp. Commonwealth Capital, a direct balance-sheet lender, will see its assets increase by more than 20% upon closing. Rich Frankel, owner and president of Frankel Financial and Excel Financial, will join Commonwealth as chief revenue officer, and all staff will move to parallel positions within the combined company. The team will operate from Commonwealth’s current headquarters in Haverford, Pennsylvania.
Otera Capital, an institutional investor based in Canada that has been active in commercial real estate financing in the U.S., announced that it has opened an office in New York City via its wholly owned subsidiary, Otera Capital U.S. Inc. The office will be led by Alfred Trivilino, managing director of U.S. real estate credit.
Geneva Financial announced the opening of a new branch location in Lake Oswego, Oregon, led by branch manager Pauline Hines.