Two small Connecticut mortgage brokers have merged their operations.
BCI Financial Mortgage Corporation and Constitution Mortgage Corporation, both of Cheshire, have joined forces under the new name of BCI Financial Mortgage Corporation D/B/A Constitution Mortgage.
Both companies made the decision to combine amid “a difficult time for the industry,” which is continually changing with growing compliance and licensing issues, company officials said.
The new company will continue to work with conventional mortgage financing, government loans including FHA and CHFA and reverse mortgages.
Constitution Mortgage has been in Cheshire for 22 years, while BCI has been in neighboring Southington since 1998, then moved to Cheshire in 2003.
“‘It’s an excellent combination of good people and a way to take advantage of economies of scale,” said Timothy Rourke, president and CEO BCI Financial Corp.
