Search
 

Loan Originators Teaming Sparks Sure-Fire Expansion

HOUSTON-Expansion plans are a certainty, but nothing's determined just yet for the "true partnering" of Houston's L.J. Melody and GE Capital Real Estate, based in Stamford, CT. For now, it's getting the structure in place for GEMSA Loan Services.

By Jennifer Brenner Andrade | Updated on August 06, 2001

HOUSTON-It’s a true partnership, Bill Frazer, managing director and CFO for Houston-based L.J. Melody & Co., tells GlobeSt.com about the alliance with Stamford, CT-based GE Capital Real Estate.

At the start of this month, the two consolidated their loan servicing operations and will do business under the moniker of GEMSA Loan Services. Frazer would not comment on the financial terms of the partnership, but did say expansion is a natural evolution. There are no specific expansion plans as yet, he adds.

The deal has been locked in negotiations for the past several months. Loan origination will be kept separate. The partnership will provide both companies with certain economies, says Frazer, and a more extensive lending and borrowing reach. GE Capital Real Estate brings sophisticated technology and processes to the table while L.J. Melody brings customer services practices and extensive lender relationships. Frazer would not comment on the financial terms of the partnership, but did say that expansion is a natural evolution. There are no specific expansion plans as yet, he adds.

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.