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Volume 18 - Number 23

November 14, 2014

New Jersey Lender Moving Forward

Freedom Mortgage recently broke into the top 10 ranking of mortgage originators and doesn’t look to be stopping there. Through the first nine months of 2014, Freedom produced $16.4 billion in originations, a 28.5 percent increase over the same period last year. That’s a huge increase at a time when overall mortgage origination volume dropped a whopping 44.2 percent. Last week, Freedom announced a deal to acquire Continental Home Loans, a retail lender focused on the New York metro market. Freedom officials said the deal, structured as an asset acquisition transaction, will boost its monthly production volume to $2 billion. That would raise the firm a notch or two in the rankings. Beefing up its retail presence was one reason ...

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