MOUNT LAUREL, N.J.,
Aug. 18, 2020 /PRNewswire/ -- Freedom
Mortgage Corporation and RoundPoint Mortgage Servicing Corporation
announced they have completed their previously announced merger.
RoundPoint is now a wholly-owned subsidiary of Freedom Mortgage,
one of the nation's largest full-service mortgage companies and a
leader in VA and government-insured lending.
Founded in 2007, RoundPoint services and subservices
approximately $75 billion in unpaid
principal balance (UPB) of mortgages comprised primarily of agency
loans. As a result of the merger, Freedom Mortgage's combined owned
and subserviced mortgage servicing rights (MSR) portfolio is now
approximately $310 billion of UPB,
elevating the company further up on the list of the 10 largest
agency mortgage servicers in the country. The merger also provides
Freedom Mortgage with an active subservicing platform and broadens
the scope of the company's co-issue origination network.
"Our transition to the Freedom family has been a great move for
us," said Kevin Brungardt, CEO of
RoundPoint. "By combining our unique strengths, resources and
expertise, we will realize major operational benefits. Together, we
look forward to setting a new standard for mortgage servicing
excellence."
"We are delighted that RoundPoint is now officially part of the
Freedom family," said Stan Middleman, CEO of Freedom Mortgage.
"RoundPoint brings over 378,000 new customers to the Freedom
ecosystem, and we look forward to the opportunity to make them
customers for life. We are excited about the new opportunities that
lie ahead."
Goldman Sachs & Co. LLC served as financial advisor to
RoundPoint and Sidley Austin LLP served as legal counsel. Classic
Strategies Group served as financial advisor to Freedom Mortgage
and Zukerman Gore Brandeis & Crossman LLP served as legal
counsel.
About Freedom Mortgage Corporation:
Founded in 1990 and headquartered in Mount Laurel, New Jersey, Freedom Mortgage is
a full-service mortgage company that provides mortgage loans
through retail, wholesale, and correspondent channels. One of the
nation's largest loan originators and servicers, the company is
licensed in all 50 states, the District
of Columbia, Puerto Rico
and the U.S. Virgin Islands.
Freedom Mortgage is a leader in VA mortgage lending and one of the
mortgage industry's largest philanthropic supporters of the USO and
military families. The company is also renowned for its vibrant
work environment where its team members can thrive. For more
information, please visit FreedomMortgage.com.
About RoundPoint Mortgage Servicing
Corporation:
Founded in 2007, RoundPoint Mortgage
Servicing Corporation is a leading national loan servicer,
residential mortgage lender and co-issue purchaser. As one of
the nation's largest non-bank mortgage servicers, it currently
services nearly $75 billion of
mortgage assets and is authorized to service loans in all 50
states, the District of Columbia
and the U.S. Virgin Islands. The
company is headquartered in Fort Mill,
SC with an office in Dallas,
TX. You can learn more about RoundPoint's services by
visiting www.roundpointmortgage.com.
FREEDOM MORTGAGE CONTACT:
Audrey Shapiro
Freedom Mortgage Corporation
(856) 380-9073
Audrey.Shapiro@FreedomMortgage.com
ROUNDPOINT MORTGAGE SERVICING CONTACT:
Roman Vega
(980) 258 – 6162
Roman.Vega@Roundpointmortgage.com
PRESS CONTACT:
Henry
Drennan
Strategic Vantage Marketing & Public Relations
(615) 497-8358
HenryDrennan@StrategicVantage.com
View original
content:http://www.prnewswire.com/news-releases/freedom-mortgage-and-roundpoint-finalize-merger-301114138.html
SOURCE Freedom Mortgage