UCMC is a ‘Full-Eagle’ mortgage banking company based in New York and New Jersey. It provides credit card debt consolidation loans, home mortgage interest, conventional mortgage loan, home mortgage loans and online mortgage loans.
Under the terms of the agreement, UCMC will be merged into PSMI.
Upon closing of the transaction, UCMC shareholders will receive common shares from PSMH. Also at closing, transfer of the Full Eagle designation will be transferred to PSMI.
The transaction is subject to further negotiations and the execution of a definitive agreement between the parties. The transaction is expected to be closed in the next 30 days.
PSMH president Jeff Smith said this acquisition will become the new mortgage banking network. Having the Full-Eagle designation will lead to exponential growth in the very near future.
