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Banking & Finance

Military Mortgage Company To Open Wilmington Office

By Jenny Callison, posted Mar 29, 2019
AAFMAA Mortgage Services LLC, a wholly owned subsidiary of the American Armed Forces Mutual Aid Association (AAFMAA), will open an office in Wilmington next week.

The office, located at 1430 Commonwealth Drive, Suite 202, will serve active-duty and retired military personnel and their families with mortgage lending. A grand opening will take place at 4 p.m. on Thursday.

“The state of North Carolina has the third-largest military population in the nation and is home to more than 790,000 veterans,” AAFMAA’s news release stated.

The local office’s market in eastern North Carolina will serve two major military bases, a spokesman for AAFMAA said Friday in an email.

Officials stated that, at Camp Lejeune, active duty personnel alone in Camp Lejeune number around 47,000, with considerably more potential customers when family members and veterans are added.  The same is true for for Fort Bragg, which has about 52,000 active-duty service members, officials said, plus families and veterans in the area.
 
Heading up the new office is Kevin Holton, who has been with AAFMAA Mortgage Services as a senior loan officer since 2017. A graduate of the University of North Carolina Wilmington with a degree in finance, Holton has more than 10 years’ experience in mortgage and home equity lending.
 
AAFMAA, a nonprofit organization that provides life insurance, investment management, residential mortgages, and survivor assistance to military personnel, dates back to 1879, shortly after the Battle of Little Bighorn left no U.S. military survivors to share the cost of helping the slain soldiers’ families.
 
North Carolina is one of 16 states in which AAFMAA provides mortgages, refinancing and construction loans – as well as other financial services – to service members and veterans, the release stated.
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