Search
 

Wells Fargo Buys Michigan Companies

BIRMINGHAM, MI-Bloomfield Acceptance Company, L.L.C. and Bloomfield Servicing Co., L.L.C. are bought from Bingham Financial Services Corp. Employees are encouraged by the position of the new owners.

By Robert Carr | Updated on June 18, 2001

BIRMINGHAM, MI-Wells Fargo & Co. of San Francisco has completed the acquisition of the assets of Bloomfield Acceptance Company, L.L.C. and Bloomfield Servicing Co., L.L.C., from Bingham Financial Services Corp. No financial details were disclosed in the announcement by the two companies.

“Our acquisition of Bloomfield will provide our commercial mortgage customers access to expanded product choices,” says Tim Sloan, executive vice president and head of capital markets at Wells Fargo. “We also will be able to establish new distribution channels and substantially increase our servicing portfolio.”

“This is an exciting time for our Bloomfield employees,” says Dan Bober, president of Bloomfield Acceptance. “Now that we are part of the Wells Fargo family, we will be able to offer an even broader menu of commercial loan origination products to better serve our borrowers and investors. We also will be able to include construction, floating rate, GSE and CMBS products in our direct lending program.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.