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National Mortgage Professional
Sep 06, 2006

Opteum Financial acquires Baytree assetsMortgagePress.comOpteum Financial Services, Baytree Opteum Financial Services LLC has announced that it has purchased certain assets of Baytree Lending Company. The acquisition is part of Opteum's plan to further expand its wholesale presence in the Midwest and service the area's mortgage brokers. "Opteum acquired these assets because of Baytree Lending's outstanding track record of success in the Great Lakes states, complementary alt-A product portfolio and seasoned staff of dedicated professionals," said Rick Floyd, Opteum's executive vice president and national production manager. "Through this acquisition, we will expand our geographic scope in this region and introduce the Opteum brand to Baytree's stable of successful broker clients." Paramus, N.J.-based Opteum Financial Services LLC, a subsidiary of real estate investment trust Opteum Inc., originates, buys, sells and services residential mortgages. For more information, call (201) 225-2000 or visit www.opteum.com. Baytree Lending Company, a subsidiary of Baytree National Bank and Trust Company, is a first and second mortgage lender based in Oakbrook Terrace, Ill. For more information, call (800) 601-9002 or visit www.baytreelending.com.
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