San Diego-based Bexil American Mortgage Inc., a majority-owned subsidiary of Bexil Corp. (BXLC), closed of the acquisition of Castle Mortgage Corp., a full-service mortgage lender operating throughout the Southeast. Terms of the transaction were not disclosed.
Bexil American Mortgage and its wholesale channel, American Mortgage Network, have been expanding across the United States. The company was founded in October 2011 and is licensed in 17 states. Castle is approved in nine states.
"Castle Mortgage adds significant depth and flexibility to our capabilities as we grow our company," said John M. Robbins, CEO and president of Bexil American Mortgage. "Their seller-servicers approvals with Fannie Mae, Freddie Mac and Ginnie Mae will accelerate our entrance into the retail market and provide a competitive advantage for our mortgage broker customers. We're delighted to welcome the Castle Mortgage team."