AnnieMac expands in Florida by acquiring Home Solution Lenders
AnnieMac
Home
Mortgage
is
continuing
its
strategy
of
acquiring
small
origination
teams
across
the
nation
to
expand
its
local
presence
and
product
offerings.
It
most
recently
added
Florida-based
Home
Solution
Lenders
(HSL).
On
Tuesday,
AnnieMac
announced
the
acquisition
of
select
HSL
assets,
bringing
construction-to-permanent
(CTP)
loan
expertise
to
its
portfolio
of
roughly
300
offerings
and
strengthening
its
presence
in
the
Sunshine
State.
The
CTP
product
is
offered
to
both
borrowers
and
homebuilders.
“With
the
average
American
home
now
over
40
years
old
and
inventory
falling
short
of
long-term
demand,
the
need
for
construction
lending
expertise
has
never
been
greater,”
AnnieMac
CEO
Joe
Panebianco
said
in
a
statement.
“Having
an
experienced,
in-house
construction
lending
team
is
more
relevant
than
ever
in
the
IMB
space.”
HSL
is
a
small
lender,
originating
about
$125
million
in
loans
over
the
past
12
months,
according
to
mortgage
tech
platform
Modex.
As
of
Tuesday,
the
company
had
five
loan
officers
and
no
branch
locations.
It
holds
licenses
in
Florida
and
South
Carolina.
By
comparison,
New
Jersey-based
AnnieMac
originated
approximately
$2.8
billion
in
loans
over
the
past
year,
with
450
producing
LOs
across
77
branches,
per
Modex
data.
In
Florida,
AnnieMac
also
recently
acquired
certain
assets
of
Florida
Funding,
with
employees
transitioning
to
its
OVM
Division.
Earlier
this
year,
AnnieMac
partnered
with
Unify
Home
Lending
to
bolster
operations
in
Montana
and
expand
its
footprint
across
North
Dakota,
South
Dakota
and
Wyoming.
