Mortgages Services III, Bloomington, Ill., this week confirmed that it purchased Pinnacle Home Mortgage, an Illinois mortgage brokerage shop with seven full-time loan officers.
No purchase price was disclosed but Pinnacle was described by MSI as being a "top ranked" lender in the Chicago area.
A year ago the bank-owned funder acquired Complete Mortgage in Milwaukee, Wisc., also a brokerage operation.
Bill McNamee and his staff at Pinnacle all will move over to MSI, a subsidiary of First State Bank.
"We're in a growth mode," said Bryan Dillow, director of marketing for MSI.
Besides being a retail lender, MSI also funds loans through correspondent and wholesale channels. Besides Illinois, he has offices in Indiana, Kansas, Wisconsin, and Washington, D.C.
