Mason-McDuffie Financial Corporation, an INTERVEST affiliate ~ MMFC History

MASON McDUFFIE
FINANCIAL CORPORATION
an INTERVEST affiliate
continuing a tradition since 1887

Mason-McDuffie Financial Corporation traces its roots all the way back to 1887, when Joseph J. Mason opened his first office on Shattuck Avenue in Berkeley, California. The name on the door read “J.J. Mason—Real Estate and Insurance.”

Joseph John Mason (1844-1928) immigrated to San Francisco from London in 1869 at the age of 25. He worked primarily as an insurance salesmen until a friend loaned him the $600 he needed to open his own business in 1887. He located his first office at the corner of Shattuck and Dwight in Berkeley, the busiest trolley intersection at that time. Soon afterward he opened a second office on California Street in San Francisco. The business was initially isolated to subdividing and developing residential land, and the sale of insurance. Although Joseph preferred to work alone for most of those years, he decided it was time to take on a partner when his thoughts began to turn toward retirement.

Duncan McDuffie (1877-1951) was working in the office of a department store when Joseph met him. The two became fast friends. Joseph saw Duncan as a bright, energetic young man whom he could groom to take over the reins and his instinct proved to be faultless. By 1905, Joseph asked Duncan to join him and Mason-McDuffie Company was born.

The company thrived and found incredible success developing such East Bay Area neighborhoods as Northbrae, St. Francis Wood, and the Claremont, to name a few. While Joseph fed the company with his drive and enthusiasm, Duncan had an eye for aesthetics and a deep respect for nature. Soon the Mason-McDuffie name became renowned nationwide for developments that exemplified a unique harmony between architecture and nature. City planners everywhere began using Duncan’s methods of design as guideposts.

After the 1906 earthquake devastated the city of San Francisco, property sales in Berkeley soared. Duncan convinced some of his college buddies to join the firm as salesmen — one of them was C.C. Young, who later became governor of California. By 1915 McDuffie and his friends were ready to buy out Mason’s interest, and Mason was ready to retire.

Over the next 70 years the company grew and prospered. It was consistently strengthened by intelligent, masterful leaders at its helm - leaders that included:

Maurice Read, who was elected President of the Berkeley Real Estate Board in 1939 and President of the National Association of Real Estate Boards in 1965, was appointed to the California State Real Estate Commission, a post he held for over 16 years, and was President of the Berkeley Chamber of Commerce. Read established the Center for Real Estate and Urban Affairs and was instrumental in establishing educational requirements for California Real Estate Sales Licensees. As a result of his work, California has been recognized for the past 35+ years as having the premier real estate program in the United States.

Kenneth Warren, who served as President of the Berkeley Board of Realtors, President of the Mortgage Bankers Association of America, and President of the Real Estate Research Council of Northern California. In 1966 he was elected President of the California Bankers Association and in 1978 served as Grand Marshal of the Mortgage Bankers Legion.

The partnership increased to as many as 43 partners at one time, and its services diversified and included residential sales and mortgages, insurance, farm loans, asset management, and, of course, sales and financing of investment properties. Relationships with investors strengthened and multiplied. In 1982, the Commercial Loan Department became an independent entity and Mason-McDuffie Financial Corporation was established.

Since 1982, MMFC has closed in excess of $6 billion in loans and now represents a full spectrum of investors and clients. It has headquarters in Oakland, California, as well as offices in Sacramento.

MMFC is committed to continued success and to remaining a leader in the mortgage banking industry by providing the highest quality lending programs and professional services for our clients. Our success is assured through assembling the most talented, hard working individuals who are committed to the highest professional standards and principles.