Bay Equity Announces Bankers Preferred Real Estate Loans Joins Its Team of Retail Branches

SAN FRANCISCO, CA--(Marketwire - Aug 15, 2011) - Bay Equity Home Loans, one of the San Francisco area's most respected and successful mortgage lending institutions, announced today that Bankers Preferred Real Estate Loans has joined its team of retail branches.

Burlingame-based Bankers Preferred has funded more than $1 billion dollars in home loans. The company was started in 1993 by John Finnegan and is affiliated with three large Better Homes and Gardens real estate offices. It will continue to operate under the dba Bankers Preferred as a branch of Bay Equity.

"As the financing industry was changing, it became apparent, particularly with regard to financial regulation bills, that it was important for us to go out and explore our options in the marketplace. It became clear that the best option was for us to move to a banking relationship," said Finnegan.

"So we searched and talked to and engaged several bankers. It became obvious that the Bay Equity leadership team, with their passion, creativity and innovative desire to succeed, win, and serve borrowers and customers was clearly the best option for us."

"John Finnegan has built an extremely successful high volume brokerage," said Brett McGovern, president of Bay Equity. "Bankers Preferred is well established and one of the most respected mortgage brokerages on the peninsula. Add to that the fact that John's partnership also has three real estate offices and you have all the ingredients for a great business success. We're excited to have John, industry-leading branch manager Arton Chau, and their team become part of our family."

Bay Equity was founded in June 2007 by three brothers, Brett, Jon, and Casey McGovern, and funded its first loan 11 months later. To date, the firm has funded more than 7,000 loans totaling more than $2 billion and has 150 employees. Bay Equity is headquartered in San Francisco's Financial District, one of the very few mortgage lenders actually located in the city itself.

About Bay Equity
Bay Equity is a family-owned, full-service wholesale and retail mortgage lending institution. The company is headquartered in San Francisco with operations centers in San Francisco and Pleasanton, California and more than a dozen retail branch offices. Bay Equity is currently lending throughout the Western United States. To learn more about Bay Equity, please visit our Web site at www.bayeq.com.