In its ongoing drive to provide complete banking services, Northwest Commercial Bank has opened a full-service mortgage department and will operate it as a wholly-owned division of the bank.
Northwest Mortgage Capital Group opened its doors Monday, May 4 in offices at 315 39th Ave SW, Suite 14, Puyallup, according to Kurt Graff, president and CEO of the Lakewood-headquartered bank. Veteran Pierce County mortgage banker Racardo McLaughlin, is heading the operation.
“We feel this is an important time for us to provide this service to our present customers and shareholders as well as offering this opportunity to others in the community,” the bank executive said. “McLaughlin’s nearly 20 years of mortgage experience in this area allows us to offer a wide variety of mortgage services at extremely competitive rates.”
McLaughlin has operated an independent mortgage brokerage service in the Tacoma area for the last couple years. A Certified Mortgage Banker, McLaughlin said the historically-low rates are allowing many homeowners to refinance into mortgages at lower interest and to take advantage of the various administration relief programs. This provides the families with more disposable income they can use for other purposes.
“We intend to offer the personalized service in mortgage financing that we’ve become known for in our banking relationships,” Graff emphasized. He explained that Northwest Commercial Bank, formed in 2002 by a group of Lakewood-area business and professional people, has not been involved in any of the lending practices that resulted in major problems for a number of national banks.
McLaughlin spent 12 years with Columbia Bank where he was a senior vice president and residential real estate division manager. Prior to joining Columbia, he was employed as a vice president and secondary marketing division manager for Pacific First Bank in Tacoma.
A member of the National Mortgage Bankers, Washington Mortgage Lenders and Puget Sound Mortgage Lenders Associations, he has served on the board of directors of the Washington organizations and was president of the Washington group in 2002 and 2007 and the regional organization in 1998. McLaughlin earned a BA degree in 1980 from the University of Puget Sound in Economics and Finance and graduated from the School of Mortgage Banking in 1998. McLaughlin received a Master designation as a Certified Mortgage Banker in 2004. He currently serves on the Board for the Tacoma Urban League and received the University of Puget Sound Alumni Service to Community Award in 2004.
In addition to the headquarters office of Northwest Commercial Bank in Lakewood, the bank has a full-service branch in Auburn and a loan production office on South Hill in Puyallup. McLaughlin can be reached by phone – 253-473-5600
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