has announced the acquisition of the retail lending assets of Platinum Mortgage.
The purchase marks Movement’s second acquisition of 2019, following the successful purchase of the retail mortgage assets of Eagle Home Mortgage earlier this year. The latest transaction gives Movement additional market share in Alabama, where Platinum’s retail footprint is concentrated. Altogether, Movement has more than 3,500 teammates, 650 branch offices and three National Sales Support Centers across its national footprint.
Platinum Mortgage was founded in 1996 and produced more than $300 million in mortgage volume in the state of Alabama in the past year.
“We’re honored to welcome the Platinum Mortgage team to the Movement family. We know they’ve built a reputation of excellent service and community involvement, and we’re excited to amplify and extend that legacy as part of the Movement team,” said Movement Mortgage Chief Executive Casey Crawford.