General World News

Mortgage lenders American Portfolio and Town Square announce merger deal

Amid the expectation of a wave of mergers and acquisitions in 2023, nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that the companies are merging their operations. 

The lenders, both privately held, will retain their names and brands after the transaction, but APMC will be the new legal entity as the companies come together. The financial terms of the deal were not disclosed.

The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement.

Lisa Thomas, chief executive officer of Town Square, added that the deal details ⇒

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