Power Express Buys Valley Mortgage

Power Express Mortgage Bankers, a direct lender of jumbo home loans nationwide, has announced its acquisition of Pasadena, Calif.-based Valley Mortgage Bankers.The terms of the transaction were not disclosed. Valley Mortgage, which will continue to operate under that name, has been originating and closing residential, commercial, and construction loans for more than five years. It is the third branch location for Power Express in California, and the 30th branch nationally, Power Express said. "The acquisition of Valley Mortgage represents an advancement in our company's goal to increase total loan volume through the expansion of retail branches throughout California and nationally," said Keith Kantrowitz, president of Power Express. The company said it has also acquired Valley Mortgage's partnership with "House Calls," a Saturday morning call-in radio program on 97.1 FM in Los Angeles.