July 29 - Mechanics Bank, one of Northern California’s largest independent community banks, and RPM Mortgage, Inc. (RPM) one of the industry’s largest independent mortgage originators, have announced an agreement for RPM to originate mortgage loans for Mechanics Bank customers.
This new relationship between the two leading financial service companies headquartered in the San Francisco Bay Area is effective immediately, and will involve RPM offering first mortgage loan origination services to Mechanics Bank customers throughout the Bank’s 30 branch network in Northern California.
"It’s a pleasure to announce this strategic relationship with RPM,” said Christa Steele, President and Chief Executive Officer at Mechanics Bank. "This association makes it possible for us to offer a complete array of mortgage products available in today’s market to our clients, and it’s backed by an organization with a true customer focus and a superior service commitment that mirrors our own. It’s a real win for Mechanics Bank clients today.”
Steele also noted that in today’s complex regulatory environment having a relationship with a proven and trusted mortgage provider is a must. “RPM is a recognized leader with numerous industry awards and a spotless service record”, said Steele. RPM was recently given Standard & Poor’s (S&P) Rating Services high ranking of Above Average in all categories as a U.S. Residential Mortgage Originator. RPM is the only privately owned U.S. Residential Mortgage Originator to have earned this ranking in all categories. In addition, RPM was recently ranked as one of the Top Mortgage Lenders of 2013 by the Scotsman Guide– the industry's most comprehensive list of the top-producing mortgage companies in the nation, and listed as one of the “Top 100 Mortgage Companies in the U.S.”, and “50 Best Places to Work”, by Mortgage Executive Magazine.
"We are extremely excited to work with a bank whose culture is so similar to RPM’s. Because Mechanics is also a Bay Area based, locally owned company, for whom client service is paramount, working with them is a very natural fit for RPM,” said Rob Hirt, Chief Executive Officer of RPM Mortgage.
Mechanics Bank has also announced new 10 and 15 year fixed rate mortgage products available starting at 2.99% (3.067% APR) and 3.375% (3.428% APR), respectively, that allow homeowners to build their equity and pay off their mortgage loans at an accelerated pace. All new mortgage loans are available by calling Mechanics Bank at 800.797.6324, or by visiting any Mechanics Bank branch or office.
About Mechanics Bank For more than a century, Mechanics Bank has been committed to helping people build prosperous communities and forging lasting relationships through teamwork, respect and integrity. The $3 billion independent bank, based in Northern California, offers personal banking, business banking, trust, brokerage and wealth management services. Member FDIC and Equal Housing Lender. For more information, please visit www.mechanicsbank.com, or call 800.797.6324. NMLS #442116
About RPM Mortgage Inc. Based in Alamo, California, RPM Mortgage Inc. is a private mortgage lender ranked by Scotsman Guide as the No. 5 mortgage lender in Top Retail Volume and No. 14 in Top Overall Volume for 2013. In addition, RPM is the only privately owned U.S. mortgage originator to have earned Standard & Poor’s Above Average ranking in all ratings categories.
Since 1986, trust, knowledge and community focus have been the core values upon which RPM has built a reputation as a highly regarded, financially sound mortgage lender. RPM services more than $3 billion in loans and was named one of S&P’s Select Servicers in 2014. Their footprint of nearly 60 branches serves communities across Arizona, California, Colorado, Nevada, Oregon, Texas and Washington.