Mortgage Investors Corp, a provider of veterans refinancing services since 1938, is being sold to HomeBancorp.
St. Petersburg, FL -- (ReleaseWire) -- 05/01/2013 --After over seven decades of helping thousands of military veterans refinance VA home mortgages, CEO Bill Edwards has made the decision to sell his veterans refinancing company, Mortgage Investors Corporation (MIC), to Jerry Campbell, CEO of HomeBancorp.
Under the purchasing terms, which are still subject to regulatory approval, Mortgage Investors will operate as a wholly owned subsidiary of HomeBancorp. As part of the acquisition, HomeBancorp will absorb MIC completely and plans to maintain all their employees, including CEO Jeffrey Crilley and other senior management. Campbell sees the purchase as an opportunity for HomeBancorp to grow more rapidly, while Edwards plans to focus on his new ventures. Edwards recently stated “My birthday is on Sunday. I’ll be 68. I figure it’s about time I hand it off. My plate is full with other stuff.”
After retiring as the chairman of Mortgage Investors Corp, a position he has held for 19 years, Bill Edwards will continue his work as a consultant for the company. He will also maintain his reputation as an extremely valuable source for civic causes, such as investing in the restoration of newly purchased BayWalk and Mahaffey Theater in St. Petersburg, FL. Edwards will also begin construction for the addition to the Club at Treasure Island. This Club was the location of last year’s Veterans Airlift Command Benefit in which MIC donated $250,000.
According to the Tampa Bay Times, Bill Edwards said that he is not planning his official retirement anytime soon, stating, "I don't plan on ever retiring," he said. "I wouldn't know what to do with myself." In addition to being an active philanthropist to his community as well as broader causes, such as the Veterans Airlift Command, Edwards works as a music producer with Big 3 Entertainment. He has produced records for musicians such as Carnie Wilson, American Idol’s Michael Lynche, and Cheap Trick.
About Mortgage Investors Corp.
Mortgage Investors Corp was founded in 1938 and has helped over 350,000 Military Veterans across the country by refinancing over $30 billion dollars in veterans refinancing to help maintain stable homes. HomeBancorp is a Tampa-based holding company that was established in 2007 by Jerry Campbell, Chairman, President and CEO. Similar to MIC, the HomeBancorp team is committed to customer service that exceeds expectations and will work hard to resolve any problems for the client.
For more information on Mortgage Investors Corporation, please visit http://mortgageinvestors.com.