New Jersey-based Zais Financial Corp. said Monday it has completed its previously announced $62.8 million acquisition of GMFS LLC, a Baton Rouge-based mortgage company.
Zais and GMFS announced the deal in August.
Zais Chief Executive Officer Michael Szymanski said the acquisition is expected to add to the company’s earnings in 2015. GMFS will be “a key strategic element of ZFC’s long-term performance,” he said.
GMFS makes home loans, primarily in the southern United States, and services those mortgages. Founded in 1999, GMFS is licensed as a mortgage banker in 29 states. The company originated about $991 million in mortgage loans for the nine months ended Sept. 30 and $1.4 billion for the full year in 2013.