HarborOne Bank announced today the establishment of HarborOne Mortgage – consolidating HarborOne Bank’s residential lending business with Merrimack Mortgage into a single wholly-owned subsidiary.
 
“This is a natural evolution for the robust mortgage business we have been building together since HarborOne acquired Merrimack Mortgage Company three years ago,” said HarborOne Mortgage President Pete Makowiecki. “By combining our mortgage operations into a single cohesive unit – we can more efficiently manage the business at scale while also capitalizing on cross sell opportunities for banking products including retail deposits, small business banking and home equity.”
 
Merrimack Mortgage Company had operated as a wholly owned subsidiary of HarborOne Bank since it was acquired in 2015. Senior leadership of the newly combined HarborOne Mortgage subsidiary will remain unchanged from the leadership team of Merrimack, which is based in Manchester, NH. Merrimack has allowed HarborOne Bank to significantly increase the size of its fee-based mortgage banking business and secure a stronger foothold in key lending markets in the New England region.