New American Mortgage LLC, Charlotte, N.C., has changed its name to Movement Mortgage LLC.
"Our success over the first five years can largely be attributed to our seven-day close model and 'on the move' mentality," said Casey Crawford, president and chief executive officer of Movement Mortgage. "The new action-oriented name reflects both our continued plans and company philosophy."
Founded in 2008 Movement Mortgage has grown from two offices and 12 employees to 170 locations and nearly 900 employees. The company has three operations centers in Virginia Beach, Charlotte and Phoenix, with a fourth scheduled to open March 1 in Orlando.
Crawford said the company’s goal over the next 12 months is to double its sales and operational staff.
Separately, First Preferred Mortgage Co., Port Huron, Mich., has changed its name to Michigan Mutual Inc., which is how the company had branded its wholesale channel.
In 2012, the company closed 10,882 loans totaling $1.8 billion. Management decided that at this point it was better to unite its units under a single brand name to better leverage marketing resources and create a stronger national presence.
Besides the new name, it has a new marketing tagline, “think bigger, expect more.”