InterLinc Mortgage Services LLC, Houston, has acquired HomeTown Mortgage Services Inc., Birmingham, Ala., creating a $700 million annual mortgage originator operating in 13 states scattered across the nation.
Terms of the deal were not disclosed.
HomeTown will give InterLinc an expanded presence in Alabama, says InterLinc CEO Jim Van Steenhouse. HomeTown is also licensed in Florida and Mississippi. Also as a result of this transaction InterLinc says will add Georgia to the states it can do business in.
In 2012 HomeTown's production was $300 million.
InterLinc’s growth plan for 2014 looks for expansion of its retail branch locations primarily in the Southern U.S. The company is looking for 15% increase in volume this year.