PSFS Corp.-West, an Orange-based mortgage banking company,...

PSFS Corp.-West, an Orange-based mortgage banking company, said it will change its name to Meritor Mortgage Corp.-West, effective January 1.

The name change is intended to reflect the Orange company’s link with Meritor Financial Group, a $16.8 billion diversified financial services organization based in Philadelphia. The mortgage company’s parent, Philadelphia-based PSFS, Monday established the Meritor Financial Group of companies, which is intended to unite under one umbrella an array of consumer credit, savings and loan associations and banking companies that PSFS recently acquired.

PSFS, formerly the Philadelphia Saving Fund Society, Philadelphia’s largest savings bank, purchased its West Coast mortgage banking operation from First Anaheim Corp. late last year. First Anaheim is the parent of United California Savings Bank, formerly called Anaheim Savings & Loan Assn.

First Anaheim officials said at the time of the sale that PSFS would pay approximately $90 million in cash for the mortgage banking unit, which then serviced a portfolio of about $3 billion in residential mortgages.