Anniemac Home Mortgage is making its second acquisition in two weeks, including construction lending expertise to its ranks.
The New Jersey-based lender Tuesday mentioned it acquired sure belongings of Florida-based Home Solution Lenders. The firm, which recorded virtually $200 million in mortgage quantity final 12 months, brings experience in construction-to-permament loans, Anniemac mentioned.
“Having an skilled, in-house construction lending crew is extra related than ever within the IMB area,” mentioned Anniemac CEO Joe Panebianco in a press launch, noting the unsure forecast for brand spanking new stock.
The acquisition for an undisclosed value follows Anniemac’s buy final month of Orlando-based Florida Funding, a store which originated greater than $600 million in loans because it was based in 2017. HSL, primarily based in Bartow, Florida exterior of Tampa, has 5 sponsored mortgage originators and produced $192 million in quantity final 12 months, in line with public databases.
Anniemac has beforehand expanded down the East Coast, shopping for Virginia Beach-based OVM Financial in 2022 and Toms River, New Jersey-based Family First Funding in 2023. The retail and direct-to-consumer participant was based in 2011 and has 583 sponsored LOs and 86 branches, in line with Nationwide Multistate Licensing System information.
The firm additionally generated $3.1 billion in origination quantity final 12 months from over 9,400 loans, in line with Home Mortgage Disclosure Act information.
Mergers and acquisitions stir in sluggish market
The mortgage arm of Illinois-based Great Lakes Credit Union Tuesday mentioned it added Fit Mortgage, a small store licensed to originate in 5 southern states.
Mortgage Forward mentioned its acquisition of Fit Mortgage will drive new origination enterprise and broaden servicing revenue alternatives. Fit, based in 2023, relies in Birmingham, Alabama and stories 5 LOs in NMLS information. The $1.4 billion-asset GLCU says it serves 115,000 shoppers throughout the Chicago metropolitan space.
The offers come amid a quieter summer season for mortgage mergers and acquisitions, following a flurry of main transactions within the spring headlined by Rocket Cos’ buy of Mr. Cooper and Redfin. Among different pullbacks and pivots, some mortgage companies have gone personal, together with software program platform MeridianLink’s current transfer.
