CrossCountry Mortgage Acquires First Choice Loan Services – NMP Skip to main content

CrossCountry Mortgage Acquires First Choice Loan Services

May 14, 2020
Shaking hands. Credit: iStock.com/PeopleImages
Director of Events

Ohio-based mortgage lender CrossCountry Mortgage has acquired New Jersey-based residential mortgage lender First Choice Loan Services, which among other services runs a mortgage program for Costco members.
 
Ohio-based mortgage lender CrossCountry Mortgage has acquired New Jersey-based residential mortgage lender First Choice Loan Services"It enhances both our strategic growth in several regions, as well as our consumer-direct component. Our team committed to, and achieved, a smooth transition for the loan originators and we are seeing immediate success with this transaction," said Ron Leonhardt, CrossCountry Mortgage's CEO.
 
First Choice EVP Norman Koenigsberg said, "We explored our options with several other companies, but Cross Country stood out. We laid out a roadmap for success in our first meeting, and Cross Country never deviated from it. To my knowledge this is one of the first successful bank-to-non-bank integrations following the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The transition has been seamless."
 
Click here to read the full announcement.

 
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
May 14, 2020
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

Sep 23, 2026
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Sep 22, 2026