Pacific Southwest Buys Bay Area Mortgage Firm

Pacific Southwest Corp., a Northridge-based real estate and financial services firm, said it acquired Midland Pacific Mortgage Corp. of Walnut Creek for undisclosed terms. Midland Pacific originates and resells residential mortgages at its five offices in the San Francisco Bay Area.

Jerry Fraschilla, president of Pacific Southwest, said Midland Pacific would fit well with the company’s existing mortgage operations and would help further its plans to build a resale network for residential and commercial loans.