Freedom Mortgage Corp. and RoundPoint Mortgage Servicing Corp. said Aug. 18 they closed their merger, creating an entity with a mortgage servicing rights portfolio valued at about $310 billion.
Mount Laurel-based Freedom announced the deal with its Fort Mill, S.C.-based target in May 2019. Financial terms were not disclosed.
“RoundPoint brings over 378,000 new customers to the Freedom ecosystem, and we look forward to the opportunity to make them customers for life, said Freedom Chief Executive Officer State Middleman in a statement. “We are excited about the new opportunities that lie ahead.”
– THINKSTOCK
Both partners are licensed in all 50 states, the District of Columbia and the U.S. Virgin Islands. RoundPoint is now a wholly-owned subsidiary of Freedom.
“Our transition to the Freedom family has been a great move for us,” said RoundPoint CEO Kevin Brungardt. “By combining our unique strengths, resources and expertise, we will realize major operational benefits. Together, we look forward to setting a new standard for mortgage servicing excellence.”
In August 2019, Freedom agreed to acquire J.G. Wentworth Co.’s home lending business. When that deal was announced, the buyer said J.G. Wentworth Home Lending LLC originated more than $6 billion in annual mortgage volume and managed a $6 billion servicing portfolio. Terms of the transaction were not announced.
For the R0undPoint acquisition, Freedom turned to Classic Strategies Group for financial advice and Zukerman Gore Brandeis & Crossman LLP for legal counsel. Goldman Sachs & Co. LLC served as financial advisor to RoundPoint and Sidley Austin LLP served as legal counsel.
Freedom was founded in 1990; RoundPoint has been in business since 2007.
"freedom" - Google News
August 19, 2020 at 12:56AM
https://ift.tt/346Rgkq
Freedom Mortgage-RoundPoint deal closes - NJBIZ - NJBIZ
"freedom" - Google News
https://ift.tt/2VUAlgg
https://ift.tt/2VYSiKW
Bagikan Berita Ini
0 Response to "Freedom Mortgage-RoundPoint deal closes - NJBIZ - NJBIZ"
Post a Comment