See more news releases in: Banking & Financial Services, Real Estate, Acquisitions, Mergers and Takeovers
CMXL Board Announces Acquisition of Residential Mortgage Bank All Fund Mortgage
SACRAMENTO, Calif., April 26 /PRNewswire/ -- The founders of CMXL
Corporation today announced the completion of the acquisition of All Fund
Mortgage, a privately held mortgage banking company headquartered in
Tacoma, Washington. The transaction was finalized on March 1, 2007 with the
assistance of Greg Thompson of Secondary Marketing Specialists, LLC, a San
Diego consultancy to the mortgage banking industry. All Fund Mortgage will
be held as a sister corporation to CMXL. Terms of the transaction were not
disclosed.
The combination of CMXL and All Fund Mortgage creates the pairing of an
emerging national and international force in commercial funding with an
established, premier residential mortgage banking operation. The
relationship brings together some of the industry's strongest players in
commercial finance with sixteen year veterans in the residential lending
space. The move also accelerates CMXL's strategic plan to provide direct
funding options to its commercial clients.
"All Fund adds a key piece to the funding equation for CMXL," said
Suneet Singal, Chairman of CMXL Corporation. "As we expand both our
domestic and international commercial financing and development operations,
having access to the All Fund platform opens up the market for a full
spectrum of domestic and international residential loans."
All Fund will be managed by Chris Dunn, a seasoned executive in
residential lending. Mr. Dunn will serve as All Fund's President and Chief
Executive Officer as well as a member of the board of directors. The
transition will be managed by Mr. Dunn and Mr. Singal as well as the other
board members, David Syme, Ian Dixon, and Warren Williams.
"We are excited about this acquisition and the opportunity it creates
to accelerate our growth in one of the fastest growing segments in our
industry," said Mr. Dunn. "This acquisition creates enhanced revenue
opportunities for both organizations and positions All Fund to rapidly grow
its market share and revenue base. We are very pleased to welcome the All
Fund family into ours."
All Fund Incorporated has funded over $1.4 billion in volume and $69.7
million in revenue from 2005 to 2006. All Fund has 230 retail offices and
over 2500 loan officers in throughout 46 states. All Fund has been an Inc.
500 Company for two years running. The Inc. 500 is a list of the nation's
fastest growing private companies. For more information see
http://www.inc.com/apps/inc500/viewCompany.jsp?cmpId=2006487 .
About CMXL Corporation
CMXL is a premier provider of national and international commercial
real estate funding. CMXL's services are focused on providing a complete
array of options to our clients, from basic funding services to arranging
and managing strategic relationships on complex projects. Service offerings
include high end brokerage services to full joint ventures. Service
offerings include: Commercial Funding Brokerage Services, Project
Acquisition and Development Joint Ventures, Real Estate Advisory Services,
and Acquisition Portfolio and Consulting Services. For more information,
please view CMXL's website, http://www.cmxl.com , or call us at
(916)285-8888.
About All Fund Mortgage
All Fund Mortgage is a mortgage banker providing high quality financial
services to homeowners throughout much of the United States. All Fund is a
full service mortgage lender and broker with an experienced staff offering
expertise in every area of mortgage lending, from purchase to refinance to
construction lending. All Fund has access to a full range of mortgage. For
more information, please view All Fund's website,
http://www.allfundmortgage.com , or call us at (877) 255-3863.
SOURCE All Fund Mortgage
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