Mason Dixon Funding Becomes Embrace Home Loans

NEWPORT, R.I.--(BUSINESS WIRE)--Mason Dixon Funding, a Rockville, Md.-based mortgage lender, today announced it is now Embrace Home Loans. Embrace Home Loans is a prominent leader in the mortgage industry and a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and an issuer for Ginnie Mae. The terms of the agreement were not disclosed.

“The Best Place to Work in Rhode Island”

“Embrace Home Loans has a solid foundation and has been helping families across the nation purchase or refinance home loans for more than 26 years,” said Kurt Noyce, president of Embrace Home Loans. “As a company, we continue to demonstrate our commitment to excellence, and this represents yet another significant milestone in our company’s growth. Mason Dixon has strong ties to the community, complemented by experienced award-winning loan officers. What attracted our organization to Mason Dixon, however, were the similarities in the way we approach customer service. Both organizations have a reputation for providing unmatched customer service – and both organizations have enviable customer referral ratings averaging 98 percent year over year.”

Founded in 1996 as an independently owned lending operation, Mason Dixon Funding has experienced significant growth and success since its inception, more than doubling its origination volume each year. The company currently has nine retail branches located in Maryland, Virginia, the District of Columbia and Delaware, and more than 150 employees. The principal owners will remain and report to Embrace Home Loans’ President, Kurt Noyce and CEO and Founder, Dennis Hardiman.

“We are looking forward to joining the Embrace team,” said Cary Reines, EVP of Mason Dixon Funding. “We take pride in that the majority of our business is based on referrals and repeat customers. We credit this to the unique, one-on-one, old-fashioned customer service we offer, which in today’s financial market is rare. Embrace holds the same philosophy and approach to its business, and also brings an expanded range of product offerings, enhanced technology that will enable us to close even faster and a broad network of specialized professionals that will augment our current operation.”

Embrace Home Loans employs more than 550 mortgage professionals, originated more than $3 billion in loans this year and operates 16 retail branches. In 2009, Embrace was recognized as “The Best Place to Work in Rhode Island,” as well as one of the “50 Best Small and Medium Companies to Work for in America.”

“Despite the tumultuous market environment, Embrace Home Loans has continued to prosper by helping hundreds of thousands of people with their mortgage financing needs,” said Noyce. “We look forward to working with the Mason Dixon Funding team to meet the needs of the community. As we join forces, collectively the combined senior team brings more than 100 years of experience. We intend to leverage each organization’s strengths and experience to further serve our surrounding communities. We are delighted to welcome the employees of Mason Dixon Funding and their clients to the Embrace family.”

About Embrace Home Loans

Founded in 1983, Embrace Home Loans is a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and an issuer for Ginnie Mae. Embrace Home Loans has remained a prominent leader in the industry, having helped hundreds of thousands of individuals and their families purchase new homes, lower their monthly payments and consolidate high-interest debt since its inception. Embrace Home Loans’ unique customer-centric approach to lending has helped secure more than $3 billion in home loans in 2009.

A member of the Mortgage Bankers Association of America (MBA), Embrace Home Loans is an Equal Housing Lender and an accredited business of the Better Business Bureau. Additionally, Embrace Home Loans has been recognized for its excellence in the workplace and devotion to community service through numerous local and national awards, reflecting the lender’s commitment to continued self-improvement. For more information, please visit www.embracehomeloans.com.