Frost Mortgage Becomes Division of PRMI

Frost Mortgage Banking Group has entered into an arrangement to operate as a division of Primary Residential Mortgage Inc., Salt Lake City, allowing Frost to focus on borrower relationships while PRMI provides a platform of financial and operational support. Under the agreement, Frost Mortgage will have access to PRMI's support services (including accounting, compliance/licensing, information technology, marketing, and quality control) and retail operation services (including secondary marketing and underwriting/risk management), the companies said. Frost Mortgage operates offices in New Mexico, Arizona, and Utah. "By allowing [PRMI] to handle our back office needs, we can continue doing what we do best -- originating mortgages," said Greg Frost, who manages Frost Mortgage and has been named vice president of national training at PRMI. Mr. Frost started in the mortgage industry in 1985, and founded Frost Mortgage Banking Group in 1991.