CMG Financial Strengthens Presence in New England Through Acquisition of Norcom Mortgage

CMG Financial, a significant privately owned mortgage banking company, has officially acquired Norcom Mortgage, solidifying its presence in the New England area. This expansion includes 25 new branches extending from Maryland to Maine, indicating a strategic move to dominate the northeastern mortgage market.

With origins tracing back to 1989, Norcom Mortgage has established itself as a reputable lender in New England, celebrated for its rapid growth. The transition of Norcom's retail assets to CMG aims to intensify the merged entity's market reach, though Norcom will maintain its wholesale division.

The acquirement is part of CMG Financial's broader expansion strategy, marking its fourth significant addition in the past year alone. This series of acquisitions has notably propelled CMG to become the nation's 12th largest mortgage company, showcasing an impressive growth trajectory in a highly competitive industry.

Phil DeFronzo of Norcom and Chris George of CMG shared their optimism for the merger, emphasizing their unified vision of enhancing homeownership accessibility. This alliance is anticipated to leverage both companies' strengths, promising an enriched customer service and an expansive product portfolio for home buyers.