Homebuilders Financial Network, a subsidiary of Fidelity National Financial, will establish two new builder-based mortgage companies for regional builders.
HFN will establish and manage private-labeled lending operations for Pinn Brothers, based in San Jose, Calif., and Las Vegas, Nev.-based Astoria Homes. Together, the two builders represent about 1,200 new home developments and $200 million in mortgages annually.
“We continue to add new partners in strategically important regions in 2004. Both the California and Nevada home-building markets are tremendously attractive to HFN,” said Tom Meyer, president and co-founder of HFN.
HFN has established and continues to manage 35 builder-based mortgage companies nationwide. Each day, HFN consolidates the new home sales of its builder clients and secures financing from an array of large mortgage investors.
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