New American Mortgage and Paramount Lending Merge
CHARLOTTE, NC – (March 17, 2011) – Two Charlotte-based mortgage companies, New American Mortgage and Paramount Lending, today announced a merger under the New American Mortgage name, effective immediately. Financial terms of the deal were not disclosed.
New American Mortgage, launched by former Carolina Panther Casey Crawford (2000-2001) and his business partner Toby Harris in 2008, is a full service mortgage company with corporate headquarters and a call center located in Ballantyne. The company has a total of 12 retail locations throughout the Charlotte area. With more than 50 offices in nine states and a business model of co-locating with real estate companies, New American expects to close more than $1B in loan volume and $50M in revenue this year.
"Paramount Lending is the partner we’ve been seeking to maximize the overwhelming number of online leads generated for us by our real estate company partners,” said Casey Crawford, chief executive officer of New American Mortgage. “We are excited about the opportunity to integrate Paramount’s call center expertise and online lead conversion strength with our loan processing power and premier real estate company relationships.”
Founded by Jessica Babinski in 2007, Paramount Lending has been in the Charlotte mortgage market for more than four years and specializes in online lead conversion. “According to the National Association of Realtors, 93 percent of home buying begins on the internet,” said Babinski. “At Paramount, we realized this early on and built our business model around ‘Raving Fan’ customer service to Internet leads using our call center.” As part of the merger, she will become New American’s E-Leads Executive.
Currently, New American has 30 employees in Charlotte and another 25 in the surrounding areas of Concord, NC and Fort Mill, SC. The merger will combine New American’s 280 employees nationwide with Paramount’s 20 employees for a total of 300. New American plans to hire an additional 30 people by the end of the year within the call center and another 150 over the next 24-36 months. More than 100 of those hires will be mortgage loan originators and call center specialists located in Charlotte with another 50 support personnel to be added in Virginia Beach, VA where New American’s loan processing center is located.