The "No Red Tape Loan" was created in 1993 for Coast Federal Bank's Retail and Wholesale Divisions. The brand was acquired by Blake Scheifele in 1998 when Coast sold to Home Savings who then sold to WAMU. Scheifele launched No Red Tape Mortgage as a division of Metrocities Mortgage in 1998, which became one of the Nation's largest privately held mortgage companies. When Prospect Mortgage acquired Metrocities the division was closed in June of 2007 and the brand became dormant soon after. After helping Skyline Financial Corp. and Ovation Home Loans grow their retail mortgage divisions, Scheifele re-capitalized the brand and re-launched No Red Tape Mortgage in June of 2011 as a retail division of Mann Mortgage, a 20+ year old well capitalized stable mortgage banking platform servicing the Western United States. With Money-Backed-Close-On-Time Service Guarantees, a market leading suite of Jumbo and Super-Jumbo products, and Stated-Income products the New Division continues to deliver on the No Red Tape brand promise. Additionally, the new No Red Tape Mortgage is providing a full suite of traditional mortgage products with competitive rates, excellent comp plans, and best-in-class purchase business marketing support for Loan Officers. Currently adding 2+ branches a month, the company is on a strategic path to grow the largest privately held mortgage company in the United States within a few years.