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Broker to Banker

Loan Link Buys Loan Originator In Southern CA

ALISO VIEJO, CA --Loan Link Financial Services here has acquired Home Funding Inc., which originates loans in Riverside, Calif., and San Diego.

Gene Kelley will remain as president of Home Funding, while Terry Liebman, president of Loan Link, adds the title of chief executive of Home Funding. The acquired company will retain its own name.

Loan Link opened as a mortgage broker in 1986 in Laguna Niguel, Calif. It has since moved to this city and now is a mortgage banker with closed-loan volume of $2.6 billion for 2003.

It now has 10 branches and can make loans in 30 states. Meanwhile Home Funding did $600 million of originations in 2003.

This deal will make Loan Link the exclusive "in-house" lender for Award-Superstars Inc., which the company said is the largest Century 21 franchise in the United States. Award previously had a relationship with Home Funding.

"This merger creates the largest privately held mortgage banking operation focused on the homebuyers of the largest Century 21 group in the United States," Mr. Liebman said.

Mr. Kelley added that by being a part of Loan Link, his company would be able to offer its customers a wider selection of mortgage product.

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