2 Midwest Brokers Merge

Simplicity Mortgage Corp., a Midwest residential mortgage broker, has announced the completion of its merger with DMI Mortgage, Des Moines, Iowa.The company said the merger marks the beginning of its Midwest expansion, including additional state licenses and new branch locations. The new management team of Simplicity Mortgage includes Terry McCombs, president and chief executive officer, and regional vice presidents Eric Busch (Des Moines), Matt Eller (Minnetonka, Minn.), Tom Hall (Davenport, Iowa), and Robert Shear (Rockford, Ill.). Simplicity said it plans to add nine state licenses to its portfolio over the next 30 days, bringing to 15 the number of states in which the company can operate. The company’s 18 branches now employ 125 mortgage professionals in three states -- Illinois, Iowa, and Minnesota. Mr. McCombs said Simplicity will focus on originating loans, while satisfying the regulatory requirements to operate as both a mortgage banker and a mortgage broker. The company can be found online at www.simplicitymortgage.com.