Freedom Mortgage to Acquire Residential Mortgage Assets From New York Community Bank – NMP Skip to main content

Freedom Mortgage to Acquire Residential Mortgage Assets From New York Community Bank

Phil Hall
Jun 27, 2017
Freedom Mortgage has announced that it has suspended residential property foreclosures and evictions and has taken additional measures to assist customers, communities and employees grappling with the impact of the Coronavirus pandemic

Freedom Mortgage Corporation has announced that it is buying approximately $500 million of selected residential mortgage assets from New York Community Bank's mortgage banking operation.
The deal includes the right to service over $20 billion of residential mortgage loans, as well as the loans in the warehouse at closing. The Mount Laurel, N.J.-based Freedom Mortgage expects to hire select employees in originations, servicing and operations from New York Community Bank's Cleveland-based residential mortgage operation.
"I am delighted to have the opportunity to add the quality assets, platform and select employees which are part of New York Community Bank to our Freedom family," said Freedom Mortgage CEO Stanley C. Middleman. "I think there will be a great future for both firms as a result of this transaction."
The NYCB acquisition comes as in late 2014, Freedom Mortgage reached an agreement with Continental Home Loans (CHL) of Melville, N.Y. to form CHL Mortgage, a division of Freedom Mortgage. And last August, Freedom Mortgage acquired the mortgage origination operations of Sterling National Bank, the principal subsidiary of Sterling Bancorp.

Jun 27, 2017
Rocket Mortgage Teams With Santander Bank

Rocket's mortgage services now available to Santander's U.S. banking clients

Industry News
Aug 16, 2022
Ameris Bank Commits $10M To Help 1st-Time Homebuyers

The Ameris Down Payment Grant Program will help eligible first-time buyers with down payments and closing costs.

Industry News
Aug 16, 2022
Competition Now Highest For Lowest-Priced Homes

In reverse of pandemic trend, competition for mid- and high-priced homes not as white hot among buyers.

Analysis and Data
Aug 16, 2022
Impac Mortgage Slashes Staffing Levels By 48%

From 330 in 4Q 2021, headcount now stands at 170 for California lender

Aug 15, 2022
Homeward Lays Off 20% Of Staff

Alternative real estate financing company cut about 120 jobs.

Industry News
Aug 12, 2022
Lone Peak Lending Joins Panorama Mortgage Group

Names Donovan Stamps as president.

Industry News
Aug 11, 2022