CEO of Del Toro Loan Servicing, Inc. Acquires Evergreen Escrow, Inc.
Creating one of the largest Full Service, Private Lending Firms in the Industry
SAN DIEGO, July 7, 2021 /PRNewswire/ -- Drew Louis, CEO of Del Toro Loan Servicing, Inc., a San Diego based provider of services for the Private Lending industry, has acquired Evergreen Escrow, Inc.
Evergreen, with offices in Washington, Arizona, and Nevada, has been one of the industry's largest and most trusted service providers for 40 years. It is estimated that together, they will oversee a portfolio of $3.5B for 30,000 customers in 14 states.
While the move to acquire Evergreen officially started in late 2020, Louis says that the seed was planted 15 years ago: "This is more than a great business arrangement; it is personal as well. You see, I "borrowed" a lot from Evergreen when my wife (Liz) and I started Del Toro in June 2006; things have come full circle. Phil (Dryden) and his wife Aimee built something very impressive, and I am humbled to be a part of such a great brand. Despite Evergreen's large size, it has all the qualities of a family business, much like the culture we have at Del Toro."
Del Toro CFO, Enrique Flores commented, "The companies compliment each other perfectly. The acquisition of Evergreen fits well into Del Toro's strategy to increase its footprint in the Western States and to standardize the services, and the level of service, available to the Private Lending community."
Private Money Lending is when an individual or small business loans another investor or company their own personal funds to use for investment purposes. Most rehab / fix and flip loans are funded through Private Lenders because they can close quicker, and with fewer hoops to jump through, than conventional banks. Del Toro assists these lenders by preparing the loan paperwork and coordinating with the borrower, escrow, and title companies to close the transaction. After closing, they collect payments, disburse construction holdbacks, and provide general customer service to the parties.
Visit Del Toro at: www.DelToroLoanServicing.com
SOURCE Del Toro Loan Servicing
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