Universal American Mortgage Company (UAMC) announced that it has acquired certain assets of Pinnacle Mortgage Group Inc. The STRATMOR Group served as the exclusive advisor to UAMC and initiated this transaction. Pinnacle is licensed in seven Western states and has ten established retail office locations in Southern California and Colorado. Pinnacle will join UAMC’s retail mortgage operations operating under the Pinnacle Mortgage Group brand name, while transitioning to UAMC’s retail brand name, Eagle Home Mortgage. The combined company is licensed in 26 states and has 100 branch offices.
“We’re excited about the opportunity to grow our presence in California and Colorado through this acquisition which we believe is an excellent cultural fit,” said Jimmy Timmons, president of UAMC. “Both organizations have enjoyed success over the years by building strong team cultures and focusing on customer satisfaction.”
As part of UAMC, Pinnacle will have access to a larger variety of conventional and niche home loan programs and will be approved directly as a seller and servicer with the Fannie Mae, Freddie Mac and Ginnie Mae.
“We believe leveraging the vast resources of the Lennar Family of Companies will strengthen our value proposition and grow market share,” said Todd Henderson, who founded Pinnacle with Brian Rindels. Rindels added, “We look forward to building a stronger franchise together to become the destination of choice for top-tier loan originators.” Henderson and Rindels will remain with the company as leaders of Pinnacle.