CEO of Del Toro Loan Servicing, Inc. acquires Evergreen Escrow, Inc.
SAN DIEGO, July 7, 2021 / PRNewswire / – Draw Louis, CEO of Del Toro Loan Servicing, Inc., a San Diego service provider for the private lending sector, has acquired Evergreen Escrow, Inc.
Evergreen, with offices at 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 $ 3.5 billion for 30,000 customers in 14 states.
As the movement to acquire Evergreen officially began at the end of 2020, Louis says the seed was planted 15 years ago: “It’s more than a great business arrangement; it’s also personal. when my wife (Liz) and I started Del Toro in june 2006; things have come full circle. Phil (Dryden) and his wife Aimee have built something very impressive, and I am honored to be a part of such a great brand. Despite Evergreen’s large size, it has all the qualities of a family business, as does the culture we have at Del Toro. ”
Financial Director of Del Toro, Enrique Flores commented: “Companies complement each other perfectly. The acquisition of Evergreen fits perfectly with Del Toro’s strategy to increase its presence in the Western States and standardize services, and level of service, available to the private lending community. ”
Private money lending is when an individual or small business lends to another investor or business their own personal funds to be used for investment purposes. Most rehab / repair and conversion loans are funded by private lenders as they can close faster and with fewer hurdles than conventional banks. Del Toro assists these lenders by preparing the loan documents and coordinating with the borrower, escrow and securities companies to complete the transaction. After closing, they collect payments, remit construction holdbacks, and provide general customer service to the parties.
Visit Del Toro at: www.DelToroLoanServicing.com
SOURCE Del Toro Loan Service