Anniemac Home Mortgage is shopping for a small Florida-based store, in a transfer that may develop its presence within the Sunshine State.
Anniemac will purchase Florida Funding, a agency primarily based in Orlando. Since its founding in 2017, the Florida-based firm has originated greater than $600 million in loans, a press launch claims.
Details of the transaction weren’t disclosed Thursday.
“This acquisition is a testomony to AnnieMac’s dedication to progress by strategic partnerships,” mentioned Anniemac’s CEO Joseph Panebianco, in a press release. “By partnering with Florida Funding, we will increase our operations and choices to numerous debtors within the Florida market.”
Several members of Florida Funding will transition to Anniemac’s OVM Financial division, a Virginia-based lender beforehand acquired by the New Jersey agency in 2022.
The integration of the newly acquired agency “ensures continuity of service for Florida Funding’s shoppers and companions, together with its long-standing relationship with Robert Slack Real Estate brokerage,” Anniemac mentioned.
Robert Slack Real Estate notes on its web site that it has a “enterprise relationship” and an possession curiosity in Florida Funding, to which it refers homebuyers.
Florida Funding, which is licensed in 5 states, together with Florida and Texas, at the moment sponsors 5 mortgage officers, in line with the Nationwide Multistate Licensing System. Meanwhile, Anniemac has an LO headcount of 557 and is licensed to function in all 50 states.
“We could not be extra excited to accomplice with the possession at Florida Funding to proceed supporting their current partnerships with Robert Slack Real Estate and their different valued companions and prospects,” mentioned Matt Beckwith, govt vice chairman of the OVM division and former proprietor of OVM. “This acquisition just isn’t solely about honoring their sturdy legacy but additionally about creating new alternatives to develop and increase.”
Though not as energetic in recent times as different firms within the mergers and acquisitions area, Anniemac has steadily bought corporations to increase into new markets.
In 2022, Anniemac Home Mortgage moved to purchase one other New Jersey-based store Family First Funding. Months later, the agency acquired OVM to increase its mid-Atlantic attain.
