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Mortgage Banker Changes Name With Acquisition

May 04, 1986

The mortgage banking firm formerly known as Crossland Capital Corp., affiliated with Crossland Savings, FSB, of New York, has had its name changed to Metmor Financial Inc. by its new owner, Metropolitan Life Insurance Co.

The Los Angeles-based firm was founded by Ralph C. Sutro, who began making and selling mortgage loans in 1910. In the past 10 years, the dollar volume of loans serviced by the company has grown from $600 million to $11.5 billion.

Metmor is currently servicing more than 233,000 loans for 618 major institutional investors (including Metropolitan Life). The company's 40 offices service loans in all 50 states and Puerto Rico.

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