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New American Mortgage, Paramount Lending merge

Charlotte-based mortgage companies New American Mortgage and Paramount Lending have merged under the name New American Mortgage, the companies announced today.

The merger will combine New American’s 280 employees nationwide with Paramount’s 20 employees, for a total of 300.

Company officials say they plan to hire up to 30 employees by year’s end and another 150 over the next three years. The 30 new hires will be at the company’s call center, while the majority of the rest will be mortgage loan originators and call center specialists.

Financial terms of the deal were not disclosed.

The companies announced the merger this morning at the Charlotte Chamber of Commerce.

New American Mortgage, launched by former Carolina Panther Casey Crawford and his business partner Toby Harris in 2008, is a full-service mortgage company with corporate headquarters and a call center in Ballantyne. The company has 12 retail locations throughout the Charlotte area.  With more than 50 offices in nine states, New American expects to close more than $1 billion in loan volume and $50 million in revenue this year, according to a news release.

Jessica Babinski founded Paramount Lending in 2007. It specializes in online lead conversion. As part of the merger, Babinski will become New American’s e-leads executive.

“Paramount Lending is the partner we’ve been seeking to maximize the overwhelming number of online leads generated for us by our real estate company partners,” Crawford said.

New American has 30 employees in Charlotte and another 25 in Concord and Fort Mill.

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