E Mortgage Management, LLC (EMM) Announces the Acquisition of Certain Assets of Fortren Funding, LLC
Online mortgage lending sees new competition in the marketplace. E Mortgage Management LLC (EMM), a full-service mortgage lender licensed in over 35 states, announced today the expansion of its already successful consumer-direct lending operations, to the mortgage lending digital space.
CHERRY HILL, N.J., Sept. 1, 2016 /PRNewswire/ -- Through the acquisition of certain assets of Fortren Funding LLC of Livingston, NJ, E Mortgage Management will emerge as a competitive Internet based lending company providing residential mortgage loans from coast to coast. This strategic move through acquisition represents significant investment by a company committed to helping Americans achieve the goal of homeownership.
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"We believe Fortren is an excellent fit with our strategic vision," Kevin Crichton, EMM's President and COO, said in a statement. "This acquisition is yet another positive step in EMM's continued growth and success and we are confident our clients and partners will benefit substantially as a result."
"The acquisition of Fortren Funding is an extraordinary business opportunity," stated Crichton, "The expertise of Fortren's management and staff will expand on the talent of our company's mortgage professionals who already provide the highest quality in customer service, direct to the consumer, now into the digital marketplace."
Fortren Funding is considered an "innovator" in online, direct to consumer digital lending, and its robust online lending platform made it an attractive fit to Senior Management at EMM when they were seeking opportunities for new business growth. Fortren Funding is based in Livingston, New Jersey, and until this sale, was privately held and run by its founder & CEO, Mark Gordon. According to both companies, Fortren will operate as a "dba" of EMM.
"Gordon and his talented team have successfully built a platform that meets the demands of today's ever-changing consumer," stated Crichton. "Our goal is to continue the growth of the Fortren retail lending success while tactically expanding our digital footprint."
Gordon said in a recent statement, "The deal with EMM allows the companies to grow together. The combination of EMM and Fortren Funding makes perfect sense. Both brands share the same emphasis on steady growth, elite service, strong strategic decision-making and efficient, technology driven operations. Together, we expect to see continued growth and success."
According to Joseph McCole, EMM Chief Financial Officer, "Fortren's management including Mark Gordon, Chief Executive Officer, Brett Shapiro, President and Nicole Gordon, Chief Operating Officer, who together started the company four years ago, will be joining EMM under terms of the acquisition. Their expertise in digital mortgage marketing and fulfillment will expand the EMM footprint to serve more customers, meeting their residential home loan needs."
Financial terms of the deal were not disclosed.
About E Mortgage Management LLC (EMMLOANS.COM)
Lender NMLS 2926. Equal Housing Lender, Equal Opportunity Employer. emmloans.com is a private, direct-endorsed local lender, rated A+ with the Better Business Bureau (BBB). The company offers products sponsored by Fannie Mae (FNMA), Freddie Mac (FHLMC), Home Affordable Refinance Program (HARP), Federal Housing Administration (HUD-FHA), U.S. Department of Veterans Affairs (VA), U.S. Department of Agriculture (USDA), individual state programs, and has access to a portfolio of private investors, nationwide. 3 Executive Campus, Suite 520 - Cherry Hill, NJ 08002
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SOURCE E Mortgage Management LLC
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