CMG Mortgage of California has purchased Northwest Financial Services, Seattle, a loan brokerage firm with 30 retail loan officers. No purchase price was disclosed. CMG president Chris George said his company has already converted NFS into a mortgage banker. It will remain a retail lender and supplement CMG's presence in the state. Mr. George said prior to the purchase NFS was originating between $15 million and $25 million a month in residential loans. It has one office. According to figures compiled by National Mortgage News and the Quarterly Data Report, CMG — a non-depository retail/wholesale funder — ranks 58th nationwide in terms of loan originations.
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