WARWICK – Embrace Home Loans, a Fannie Mae and Freddie Mac direct lender, has opened a new branch in Warwick.
The lender, based in Middletown, points to the strengthening of the state’s housing market as one reason why the company is expanding its Rhode Island footprint, saying 2016 home sales in the state grew 12.4 percent compared with 2015, while home prices rose 6.6 percent.
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“With an improving economy and increased buying activity, we felt we needed to increase our presence in Rhode Island,” said Michelle Solomon, branch manager of the new location. “By being more centrally located, we’ll be able to better serve both our borrowers and referral partners across the state, as well as the surrounding communities, including Massachusetts and Connecticut.”
The lender held a grand opening on May 4.
“Embrace has a long history in Rhode Island and [expansion] into this office was a natural decision for us,” said Jeff McGuiness, chief sales officer.
Eli Sherman is a PBN staff writer.
