Skip to main content

Freedom Mortgage to Acquire Chase's Rural Housing Business

NationalMortgageProfessional.com
Apr 07, 2016
Freedom Mortgage has announced that it has signed an agreement to acquire the correspondent origination assets of JPMorgan Chase's Rural Housing business

Freedom Mortgage has announced that it has signed an agreement to acquire the correspondent origination assets of JPMorgan Chase's Rural Housing business. Freedom Mortgage will operate the business unit under its own banner and will keep in place the existing team of dedicated professionals that has served the nation's rural and low-to-moderate income lending needs for over 23 years. The transition will be fully completed on July 1, 2016.

"We are extremely pleased to expand this important business unit within our growing array of services to our nation's borrowers," said Stanley C. Middleman, Freedom Mortgage CEO. "Chase has a proven team of experts who thoroughly understand the unique requirements of rural housing customers. We look forward to further developing Freedom Mortgage's presence in this essential market through our national network of correspondents. Over the next several months we will work very closely with Chase to ensure a smooth transition that keeps service levels high and funds flowing to the borrowers who need it." 

This acquisition is the latest development in Freedom Mortgage's growth strategy. The company, in business for 26 years, has grown to become one of the country's largest wholesale and correspondent lenders, working with mortgage professionals all across America to deliver its trademark high quality financial services to the nation's homeowners.

"This decision aligns with our overall strategy to simplify our mortgage business. We will continue our strong partnership with the USDA to service our existing mortgage customers," said Greg Beliles, head of Correspondent Lending at Chase.

Published
Apr 07, 2016
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021