Paragon Buys Paragon

Paragon Financial Corp., Ponte Vedra Beach, Fla., has announced the acquisition of Paragon Homefunding Inc., an unaffiliated company based in Orlando, Fla., for an undisclosed amount.Paragon Financial currently focuses on originating and brokering residential mortgage loans, and Paragon Homefunding maintains relationships with more than 30 mortgage wholesalers. Steve Burleson, Paragon Financial's chief executive officer, said the company plans to make further acquisitions and that adding loan volume "propels us closer to consolidating common business functions in a centralized location, and allows us to compete more effectively for improved premiums in the secondary mortgage market." Paragon Financial can be found on the Web at http://www.paragonfinancialcorp.com.