SHERMAN OAKS, Calif., Nov. 17, 2016 /PRNewswire/ -- On November 1, 2016, HomeBridge Financial Services, Inc., a national independent mortgage lender, announced the signing of a definitive agreement under which HomeBridge will purchase the operating assets of Prospect Mortgage, LLC from Prospect Holding Company, LLC. The asset purchase consists primarily of the loan production platform and is expected to close in January 2017.
Since the announcement, 23 new Loan Officers have joined Prospect, reflecting the positive sentiment about the news.
"We've had a successful hiring year because we have so many tools to offer Originators to grow their purchase business," said Prospect's Chief Talent Officer Dan Nieto. "Since the November 1 announcement, there's even more excitement in the market place about joining our Company."
After the transition is complete, Prospect Loan Officers will have access to an expanded product line, with enhancements to FHA/VA, new construction, renovation, jumbo and reverse programs. According to Scotsman Guide's 2015 Top Mortgage Lenders rankings, HomeBridge should become the sixth largest non-bank mortgage lender for overall production.
HomeBridge and Prospect Mortgage share a focus on the home purchase market and Real Estate Agent relationships.
About HomeBridge Financial Services HomeBridge Financial Services, Inc. is one of the largest privately held, non-bank lenders in the United States. In the last 25 years, HomeBridge has grown to include more than 1,500 associates in nearly 100 retail branches across the country and two separate wholesale operations, HomeBridge Wholesale and REMN Wholesale. HomeBridge holds FNMA, GNMA, FHLMC, FHA and VA approvals and funded nearly $9 billion in home loans in 2015. More information on HomeBridge can be found online at www.HomeBridge.com.
About Prospect Mortgage Prospect Mortgage is one of the largest independent residential retail mortgage lenders in the United States, having funded almost $9 billion in home loans in 2015. It is a leading lender offering a full range of quality home loans, including FHA and VA, conventional, jumbo and super jumbo, renovation and more. For more information, please visit www.MyProspectMortgage.com. LR 2016-893