Comstock & Sac 1st Mortgage Combine, Create Area’s Largest Brokerage
May 4, 2007
SACRAMENTO, CA – 43 Originators, 72 total staff, four locations, 18,000 square feet of space and 159 years of combined mortgage industry experience among the partners equaling nearly a billion dollars in annual production. Those are the numbers for the new (and improved) Comstock Mortgage, which today announced its merger with Sac 1st Mortgage to create the Sacramento area’s new largest mortgage company.
“We are growing and becoming stronger while other companies are going out of business or contracting,” said Jeff Compton, Managing Director of the new Comstock Mortgage. “Whenever there is a downturn in the market, there are always opportunities for the strong to emerge as leaders.” Comstock is one of the most successful, mature mortgage companies around and has thrived through several market changes over the years. Most of its partners have been together for more than 10 years and the majority of its producers are veterans too – somewhat rare in the high turnover mortgage industry. In fact, Comstock is looking for other top producers in the area to join its high-powered broker-banker platform.
Sac 1st Mortgage was founded as a mortgage banker and brokerage by former Vitek mortgage partner Craig Sardella and broker Alan Wackman. The merger of the two companies combines the banking operations of Sac 1st with the experienced brokerage operation of Comstock to offer Sacramento area consumers a solid, local alternative to national banks and mortgage companies.
“Our combined strength comes from 20 years of building relationships of trust with the real estate community and the homeowner’s we serve, not via mass mailers and or radio,” said Managing Director Craig Sardella. “We’re both in the relationship business. This way we’re able to be more competitive for consumers than those spending hundreds of thousands per month on advertising for their businesses.”
The new company will operate as Comstock Mortgage, and will combine the sales forces, management and executive teams of both companies. The financial strength combined with depth of expertise will provide the clients of Comstock Mortgage a wide array of multi-state mortgage alternatives.
The new Comstock Mortgage specializes in residential and commercial lending, and the team is looking forward to serving homeowners, realtors, builders & developers from its branches located in Sacramento, Roseville, El Dorado Hills and Reno.