Freedom Mortgage Funds $2 Billion-Plus in Residential in June
Freedom Mortgage Corporation funded more than $2 billion in residential mortgages in the month of June. While the mortgage industry is experiencing a downturn, Freedom Mortgage has increased market share while remaining highly compliant, customer-centric, credit-conscious and profitable. This milestone was celebrated with a company-wide national Webcast from Freedom Mortgage’s senior management team. Two years ago, in July 2012, the company achieved monthly volume of $1 billion in funded loans for the first time. This dramatic increase in volume over the past two years is the result of leadership’s vision and strategic growth plans. Roughly half of the $2 billion volume was funded by its Structured Products Group, the company’s correspondent lending division. “We set out to expand the footprint of our Structured Products Group, and in the past year, that’s exactly what we did,” said Stanley Middleman, CEO of Freedom Mortgage. “The tireless work of the Structured Products Group’s highly professional staff has captured significant market share and increased their volume five-fold. We’re especially proud of the $1 billion funded by this group, because it means we have successfully broadened our reach to help even more homeowners.” Another noteworthy accomplishment was realized by the Freedom Mortgage servicing department, which re-engineered its practices and achieved the #1 ranking in its peer group as measured by the Fannie Mae STAR report. The company continues to grow its servicing portfolio. Freedom Mortgage successfully launched its in-house servicing operation and is now servicing in-house, all newly originated loans after July 15th. Prior to July 15th, Freedom Mortgage utilized subservicer partners to service its portfolio of over 250,000 loans. Those loans will continue to be subserviced by the current subservicer.