Assured Fee acquires DTC lender Proudly owning Company

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Recent off its acquisition of Stearns, Assured Fee has acquired Proudly owning Company, a direct-to-consumer mortgage company.

The acquisition offers Assured Fee, greatest famous for its retail prowess, one other engine to boost its progress inside the direct-to-consumer channel.

Phrases of the take care of Orange, California-based Proudly owning weren’t disclosed.

Based on Assured Fee, Proudly owning’s direct-to-consumer platform processed over $20 billion entirely mortgage quantity in 2021.

“We're actively searching for strategic acquisition alternatives to strengthen our devote progress channels,” mentioned Assured Fee’s President and CEO Victor Ciardelli in a press release. “The inclusion of Proudly owning enhances our current Client Direct enterprise, constructing on our momentum and additional accelerating enlargement for the reason that phase.”

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Like almost all residential mortgage lenders, Chicago-based Assured Fee had its best-ever yr in 2021, originating about $73 billion in mortgages.

In early January, it acquired Stearns Holdings, a multichannel lender who originated about $20 billion in 2021.

With the acquisitions of Stearns and Possessing, Assured Fee now has a stable of worthwhile joint-ventures, a few of the nation’s top-producing retail mortgage officers, admission to the wholesale channel along with a stronger direct-to-consumer platform to build up its refi enterprise.

Assured Fee, located in 2001 in Chicago, has become firmly a top-10 mortgage lender inside the U.S. It grew almost 100% in 2021. Final yr, the mortgage agency additionally had two mortgage originators produce over $1 billion in mortgages: Ben Cohen and Shant Banosian.

Based on the NMLS, Possessing has 62 mortgage officers and was shaped in 2021. The organization appears to be solely licensed in California. It makes a speciality of low-rate mortgage refinances, during which it originates a home loan without any closing prices, together with appraisal, credit rating report, escrow and title. The company additionally has a zero down buy mortgage program in California and a number of other applications that seem linked to iBuying.

The submit Assured Fee acquires DTC lender Proudly owning Company appeared first on HousingWire.

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