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."