Aramco Mortgage, a Carlsbad-based residential mortgage brokerage firm, announced Dec. 9 that it has formed The Aramco Group, a collection of real estate financing companies including Aramco Mortgage and Aramco Financial.
Company spokesman Scott Walsh said Aramco handled approximately $45.2 million in loan volume in 2010, and is on track to do about the same in 2011.
Founded by Mehran Aram in 1998, Aramco Mortgage provides loan services to homebuyers, a company statement said. The Aramco Financial subsidiary specializes in government-insured reverse mortgages.
Aram said placing the firms under the new umbrella will allow the company to “better coordinate our various enterprises and initiatives” and improve customer service.
— Lou Hirsh