Commercial Mortgage Associates, a Salt Lake-based mortgage banking firm, has been appointed exclusive correspondent for commercial mortgage loans by Columbian Mutual Life Insurance Co., which invests in mortgage loans on commercial real estate properties in the United States.
A CMA spokesman said Columbian Mutual's loan parameters of between $350,000 and $2 million are ideal for the Salt Lake market. CMA will represent the New York-based insurance company as mortgage loan correspondent for Utah and surrounding states.In addition to representing Columbian Mutual by making recommendations relative to mortgage loan investment, CMA also will do loan servicing for all loans made in this region.
CMA was formed last March to acquire the business of Wallace Associates Finance Group.