Just a few months after disclosing plans to seek out new opportunities, Freedom Mortgage Corp. has made an acquisition.
The Mount Laurel, New Jersey-based company announced in May
that it had moved forward with new initiatives.
In addition to initiatives undertaken in mortgage servicing, Freedom noted that it had also moved forward with initiatives in commercial real estate lending and financial institutions partners group activity.
Also on the agenda, according to
the firm’s chief executive officer, Stanley C. Middleman, were other opportunities.
“Freedom Mortgage is interested in creating opportunities for our employees, company, business partners, investors and especially our customers,” Middleman said at the time, adding, “We are always on the lookout for companies wishing to work with us or to join us and benefit from our size, scope and employee-centric environment.”
On July 18, Freedom acquired
select assets and employees of First Mortgage Corp., a statement from First Mortgage Branch Manager Chris Burns said.
Ontario, California-based First Mortgage reports closing nearly 100,000 loans since it
was founded in 1975.
The company says that it has branches in Arizona, California, Nevada, Utah and Texas.
It reportedly is licensed in eight states.
On the home page of its website, First Mortgage says it operates a correspondent lending division — though the link to the division leads to a broken website.
In a July 29 announcement, Freedom said that the acquisition of First Mortgage brings its retail branch count to 100 and its headcount to more than 3,500 employees.
