Goldome was established in January 2010 by the Texas-based law firm of Black, Mann & Graham LLP. Tom Black, Calvin Mann and Greg Graham will continue to be involved in Goldome's future. Pamela Robinson, a multiyear veteran of warehouse lending, has managed the company since its formation and she will continue in that role under the new ownership structure.
Carlile was established in 2010 to invest in community banks throughout the Southwest, including in Texas, New Mexico, Oklahoma and Colorado. Its president and chief operating officer Don E. Cosby said in an interview that Northstar is also in the warehouse lending business but since it entered that line it has been using Goldome’s back office on an outsource basis.
Thus Northstar was attracted to Goldome because it is familiar with the principals and wanted its staff’s expertise in the warehouse field, he added.
Northstar provides lines to small-to-medium mortgage bankers while Goldome is more weighted towards the smaller mortgage bankers. Both companies lend outside of Texas. Goldome has $100 million in lines outstanding and between $350 million and $400 million in commitments, Cosby said. He did not disclose similar data for Northstar other than to say it was a smaller number.
Goldome has grown its business significantly and Northstar is also growing in the warehouse space, which is another factor in doing the transaction, Cosby said.
The additional ownership expertise and resources that Carlile and Northstar provide will lead to expanded funding capability and enhanced service levels for the customers of Goldome.
Lines are provided for conforming and government mortgages.