SAN RAMON, Calif., May 11 /PRNewswire/ -- Prudential California/Nevada Realty, a leading provider of innovative solutions for real estate agents and clients, has named Bank of Commerce Mortgage as a key strategic partner. Bank of Commerce Mortgage was selected as one of two new in-house lenders to support 1800 agents across Prudential California/Nevada Realty.
This initiative makes Prudential California/Nevada Realty the first large real estate brokerage in the U.S. to offer multi-tiered mortgage solutions to prospective home buyers and current home owners.
Among the factors that led Prudential California/Nevada Realty to choose Bank of Commerce Mortgage was the mortgage bank's industry leadership, demonstrated customer commitment and its ability to serve clients in a consultative role.
Bank of Commerce Mortgage, backed by Bank of Commerce Holdings (Nasdaq: BOCH), an $814 million financial services holding company, provides customers with a more advanced level of capital strength than many other mortgage companies and brokerages. The company is a direct-endorsed, Full Eagle FHA lender. As a result, Bank of Commerce Mortgage is equipped to independently approve and fund both FHA and conventional loans.Under the terms of the partnership, Bank of Commerce Mortgage will offer a complete mortgage solutions package that buyers and home owners can access from Prudential's 36 offices across Northern California and Nevada. "Today's rapidly changing real estate landscape demands that we effectively collaborate with our employees and partners to help drive success through flexible Web 2.0 technologies, marketing strategies, education, events and other resources," said Ed Krafchow, president and CEO for Prudential California/Nevada Realty. "Bank of Commerce Mortgage has taken an active role as a value-added real estate marketing and loan servicing partner. With its capital strength, technological innovation and integrity, Bank of Commerce Mortgage is a great addition to our team and we look forward to a long, mutually beneficial relationship." "We are pleased to bring Prudential California/Nevada Realty a solid funding source that its buyers can use to complete transactions in the most timely and hassle-free manner," said Ron Perkins, mortgage banker and partner for Bank of Commerce Mortgage. "To this end, we dedicate ourselves to being there for Prudential, providing personalized service to guide clients and agents through the financing details of each unique real estate transaction, every step of the way." 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. About Prudential California/Nevada Realty Founded in 1887 as Mason-DcDuffie Real Estate and transitioning to the Prudential name in 1997, Prudential California Realty and its sister affiliation in Nevada are a leading innovator of real estate technology solutions to its agents and clients. Prudential California/Nevada Realty provides comprehensive real estate solutions when buying, selling and owning a home with more than 7,600 transactions and $2.8 billion in annual sales for 2009. The company offers consumers full MLS access to home listings through its website www.PruRealty.com. Owned by David Cobo and Ed Krafchow, the organization cumulatively has more than 1,800 agents and 36 offices. Prudential CA/NV is an independently owned and operated member of the Prudential Real Estate Affiliates. SOURCE Bank of Commerce Mortgage