Shellpoint Partners LLC has announced that its wholly-owned subsidiary, New Penn Financial LLC finalized the acquisition of Resurgent Mortgage Servicing, which will now operate as Shellpoint Mortgage Servicing.
“The acquisition of the mortgage servicing business from Resurgent Capital Services marks a significant milestone for Shellpoint as we implement our strategy to deliver financing solutions for homeowners in an evolving residential mortgage lending market,” said Bruce Williams, co-CEO of Shellpoint. “SMS will provide a quality experience for New Penn’s customers, while continuing its industry leading special servicing business focused on maximizing performance and returns for our third party clients.”
“The acquisition by Shellpoint creates financial stability and the opportunity to better serve our clients and borrowers,” said Jack Navarro, president and CEO of SMS. “We look forward to supporting New Penn’s origination capabilities and continuing to enhance our capabilities for our third-party special servicing clients.”
“The addition of a highly regarded servicer focused on providing a customer-friendly borrower experience will enhance our continued commitment to providing innovative homeownership solutions," said Jerry Schiano, president and CEO of New Penn.