Modern developments in advanced material technology have produced new magnetic materials capable of dealing with high frequencies. However, such metals typically have low mechanical strength and they are found to be brittle. In order to manufacture electro-mechanical devices with such new materials, it has to be reinforced with a mechanically strong structure. One option is to incorporate stronger core materials, such as Si-steel sandwiched together with the high performance material resulting in a multi-magnetic material laminated core (MMLC). The MMLCs also allow the opportunity shape the effective magnetic properties to certain extent. In this paper, the homogenization of MMLC BH characteristics and a strategy to calculate the core loss properties of an MMLC constructed with two materials is developed using the individual properties of the materials.