OCMBC Inc., one of the top wholesale lenders and the nation’s second-largest Non-QM originator, announced today the successful acquisition of HomeStar Financial Corporation. This strategic move, finalized on August 29, represents a major expansion of OCMBC’s operations across the country.
HomeStar Financial, based in Gainesville, Georgia, began in 2002 as a local mortgage banking company and has since grown into a nationally licensed business. Under the leadership of Founder and CEO Wes Hunt, HomeStar has earned accolades including recognition as a Top Place to Work in Georgia, the number one FHA Purchase Lender, and a Top Mortgage Originator.
“HomeStar’s strong community ties and experienced team make them an excellent addition to the OCMBC Family of Companies,” OCMBC CEO Rabi Aziz added. "This acquisition enhances our capacity to serve our clients and strengthens our commitment to excellence."
Earlier this year, HomeStar Financial shut down. In an internal memo, the company said the decision to end operations Tuesday, Oct. 31 comes off the "heels of additional mortgage volatility driven by macro economy."
OCMBC operates several other brands such as LoanStream, LendingPros, Forward Lending and Jet Alliance Mortgage. Home Mortgage Alliance Corp. sued OCMBC earlier this year over poaching and brand-theft allegations related to Jet Alliance Mortgage.
OCMBC President Serene Vernon, shared her enthusiasm about the acquisition, saying "We are excited to integrate Wes Hunt and the HomeStar Financial team into the OCMBC family. Their deep expertise in mortgage servicing and dedication to exceptional customer service perfectly align with our values. We are eager to embark on this new journey together."
Check back with NMP for further updates.
