MortgageBrokers.com to Buy NJ Broker

MortgageBrokers.com Inc., Toronto, has announced the signing of a letter of intent to acquire a privately held, New Jersey-based mortgage broker and banker.The terms of the proposed transaction were not disclosed. The unnamed company holds licenses in seven states, MortgageBrokers.com said. "This proposed acquisition will provide MortgageBrokers.com with a crucial point of entry in the lucrative $3.8 trillion U.S. mortgage market," said Alex Haditaghi, the company's chief executive officer. "With an established footprint on the East Coast, this acquisition, once completed, could potentially bring $400 million in mortgage origination volume and $6.2 million in gross revenues to MortgageBrokers.com." The company can be found on the Web at http://www.mortgagebrokers.com.