Central Pacific Bank has launched two new joint ventures — Haseko HomeLoans and Island Pacific HomeLoans — to provide residential mortgage loan services in Hawaii. The companies are in addition to Central Pacific’s two existing residential mortgage joint ventures, Gentry Homeloans and Pacific Access Mortgage.
Haseko HomeLoans is a joint venture between Central Pacific and Haseko (Hawaii) Inc., and Island Pacific HomeLoans is a joint venture between Central Pacific and M&A Enterprises LLC. The bank said the new joint ventures will allow it to better support those two companies with financing for home purchases.
Haseko (Hawaii) Inc., established in 1973, has been developing residential, commercial and resort projects in Hawaii for almost 40 years. M&A is a newly formed business.
Central Pacific, the state’s fourth-largest bank with $4.37 billion in assets, originated more than $1 billion in residential mortgage loans in 2012.