Bellwether and Towle Complete Merger

CLEVELAND—Officials from Bellwether Enterprise Real Estate Capital, LLC, a subsidiary of Enterprise Community Investment, Inc., say they have just completed their merger with Towle Financial Services, a mortgage banking firm located in Minneapolis and Detroit.  

As reported in GlobeSt.com, the merger adds about $400 million in annual loan volume and $1.4 billion in servicing, and brings Bellwether’s total annual loan volume to an estimated $2.5 billion and $8 billion in servicing. Ned Huffman, Bellwether’s president, told GlobeSt.com that “the goal within two or three years is to get to $3.5 to $4.0 billion a year” in loan volume and establish a true national presence with personnel handling affordable and market-rate business in every region. The Cleveland-based company has been expanding across the country in recent months, opening up a Western Regional office in California and another office in Boston.