SAN JOSE, Calif.--(BUSINESS WIRE)--All Cal Financial, one of the country's top mortgage brokers, today announced that it is merging with InstaMortgage, a tech-driven mortgage lender licensed in 26 states.
InstaMortgage is an award-winning lender with a national reputation for providing cutting-edge technology to deliver a mortgage loan quickly and efficiently. All Cal Financial is a leading broker operating in California. Together, the two companies will leverage their deep commitment to clients and transparency to deliver custom home loan solutions while optimizing each client's goals.
“InstaMortgage was drawn to Jim Black and All Cal Financial because of their reputation for excellence, honesty and transparency in the mortgage industry; values true to our own nature,” said Shashank Shekhar, Founder and CEO of InstaMortgage. “With Jim’s reputation as a top producing loan officer and expertise with innovative lending products, we will be able to accelerate the growth of InstaMortgage and meet the lending needs of even more consumers.”
The two companies will combine to provide more product options for its loan officers, new tools for the referral partners to grow their business, and further the company’s goal of being the preferred lender for homebuyers. With the merger, the InstaMortgage family expands to more than 125 people.
“Shashank and InstaMortgage have been breaking records for growth and client satisfaction for several years as industry leaders and the future of the mortgage industry,” said Black. “I am excited to partner with him and the rest of the talented team at InstaMortgage to support our shared vision of making lending a positive and efficient process for the consumer. We will continue to inspire, innovate and deliver custom solutions for one of the largest financial decisions in life.”
Jim Black was also named the Chief Lending Officer for InstaMortgage and will lead new product development, tech partnerships and sales growth.
The terms of the deal were not disclosed. Kevin Kim of Geraci, LLP acted as legal advisors to All Cal Financial and InstaMortgage in the transaction.
About InstaMortgage
Originally founded in 2008 by Shashank Shekhar as Arcus Lending, the company rebranded as InstaMortgage in 2021. InstaMortgage aims to provide a radically different mortgage experience to its clients across 26 states. By combining their superior technology with expert advice, excellent customer service and competitive rates they deliver mortgage options that are tailored to each client's unique financial situation. The company has been named to the Inc 500 list of fastest-growing private companies in America and recognized in the mortgage industry as a top producer and one of the best places to work. InstaMortgage, dba Arcus Lending Inc, NMLS 1035734
