Bellwether and Towle Financial to Merge

CLEVELAND—Bellwether Enterprise Real Estate Capital, LLC has just entered into a merger agreement with Towle Financial Services, a mortgage banking firm in Minneapolis and Detroit. The merger, which company officials expect will close by the beginning of September, will add about $400 million in annual loan volume and $1.4 billion in servicing. Bellwether, the Cleveland-based subsidiary of Enterprise Community Investment, Inc., will then have a total annual loan volume of $2.5 billion and $8 billion in servicing.

“The partnership is an important component of Bellwether Enterprise’s overall growth strategy to increase market share and expand brand awareness throughout the country,” says Ned Huffman, president of Bellwether Enterprise.