OAKLAND, Calif., Jan. 26 /PRNewswire/ -- Red Oak Realty, the largest independent real estate firm in the East Bay, today announced that Bank of Commerce Mortgage is now its premier provider of mortgage solutions. In aligning itself with Bank of Commerce Mortgage, Red Oak Realty will be able to offer on-site mortgage financing to current buyers and past clients who are seeking to refinance their home. In addition, Red Oak Realty will be able to improve support for its agents by providing access to in-depth mortgage industry knowledge and information.
Operating from Red Oak Realty's offices in Oakland and Berkeley, mortgage bankers from Bank of Commerce Mortgage will be available to assist Red Oak Realty's agents and clients on an ongoing basis.
In partnership with parent company, Bank of Commerce Holdings (Nasdaq: BOCH), a $814 million dollar financial services holding company, Bank of Commerce Mortgage provides customers with a more advanced level of capital strength than many other mortgage companies and brokerages. A direct-endorsed, Full Eagle FHA lender, Bank of Commerce Mortgage is equipped to independently approve and fund FHA loans. The company also offers a full array of conventional financing options.
"Considering that the Bay Area real estate market is experiencing increasingly frequent changes, offering in-house mortgage services is one of the best ways that we can make the purchase of a home efficient and trouble-free," said Laurie Capitelli, leading partner for Red Oak Reality and state director of the California Association of Realtors. "We are looking forward to a long relationship with Bank of Commerce Mortgage, which has already proven to be a valued resource for our agents."
"Building trust with customers and communities for mutual loyalty is our top priority," said Scott Simonich, president and CEO for Bank of Commerce Mortgage. "Since this goal falls right in line with Red Oak Realty's vision, it makes sense for both of our companies to collaborate. We are honored that Red Oak Realty has selected Bank of Commerce Mortgage as a strategic ally."
"We are dedicated to helping Red Oak's clients make the best possible financing decisions," said Faramarz Moeen-Ziai, mortgage banker for Bank of Commerce Mortgage. "Our goal is to provide a high level of service by offering a secure, reliable source of funds for real estate transactions that are competitively priced and make a difference for prospective buyers and current home owners."
About Red Oak Realty
Founded in 1976, Red Oak Realty is the largest independent real estate broker in the communities of Oakland and Berkeley and their surrounding cities. Named by The San Francisco Business Times as one of the most productive 25 companies in the Bay Area, Red Oak Realty offers its clients a proactive administrative staff, state-of-the-art technology and dedicated agents who are committed to putting clients' needs first. The company is still locally owned and operated by three of its original founders. Finally, Red Oak Realty gives back thousands of dollars each year to deserving local community groups through its 501 (c) 3 non-profit charitable organization, Red Oak Opportunity Foundation (ROOF). For more information, visit www.redoakrealty.com or call Red Oak Realty at (510) 292-2000.
About Bank of Commerce Mortgage
Operating as both a mortgage banker and brokerage, Bank of Commerce Mortgage is a leading provider of innovative mortgage solutions. The company is able to quickly and reliably offer competitively priced solutions for borrowers by combining in-house funding and underwriting resources. A HUD approved FHA lender, Bank of Commerce Mortgage has the credentials and expertise that borrowers can trust. The company's management team collectively possesses more than 100 years of experience in the mortgage industry, leading it to fund more than $1 billion annually. Bank of Commerce Mortgage is headquartered in San Ramon, California and serves customers from a wide range of locations throughout California, Arizona, Colorado and Nevada. For more information, contact Bank of Commerce Mortgage at (925) 275-6844 or visit the company's website at www.bankofcommercemortgage.com.
SOURCE Red Oak Realty