Freedom Mortgage Acquires J.G. Wentworth Home Lending
Purchase adds an additional 570 employees and 35 offices nationwide to Freedom Mortgage while boosting its mortgage servicing portfolio by $6 billion
Mount Laurel, NJ – August 1, 2019 – Freedom Mortgage Corporation, a privately held, full-service mortgage lender licensed in all 50 states, announced it has finalized an agreement to acquire J.G. Wentworth Home Lending, LLC, a subsidiary of J.G. Wentworth Company and one of the nation's largest direct and retail home mortgage lenders. Terms of the deal were not disclosed.
Based in Chesterbrook, Pennsylvania, J.G. Wentworth Home Lending originates more than $6 billion in annual mortgage volume and manages a $6 billion servicing portfolio. The company has 571 employees in more than 35 offices nationwide. The acquisition is expected to expand Freedom Mortgage's reach to several new markets, particularly in the mid-Atlantic region, where J.G. Wentworth has a strong presence.
J.G. Wentworth Home Lending's excellent track record of serving first-time and veteran homebuyers make them a perfect addition to Freedom Mortgage, said Stanley Middleman, founder and CEO of Freedom Mortgage. "By combining strengths, we'll be able to provide affordable home financing options to even greater numbers of borrowers, so they may achieve the American dream of homeownership. We look forward to working together."
We are very pleased to enter this next chapter in our company's history, said Phil Buscemi, President at J.G. Wentworth Home Lending.
Freedom Mortgage shares our commitment to always put borrowers first and our dedication toward leveraging technology to make the financing process as fast and simple for consumers as possible. We look forward to an exciting future together.
Licensed in 46 states and the District of Columbia, J.G. Wentworth offers conventional and jumbo purchase loans as well as government-insured FHA, VA and USDA loans. The company sells loans directly to consumers and through traditional retail branches.
About Freedom Mortgage
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 of Pennsylvania and Southern New Jersey. The company is also renowned for its vibrant work environment where its team members can thrive.
About J.G. Wentworth Home Lending, LLC
J.G. Wentworth Home Lending, LLC is one of the nation's largest direct and retail home mortgage lenders. Our parent company, J.G. Wentworth, has served the community since 1992. We created a streamlined, technology advanced organization to provide consumers with low mortgage rates and an efficient mortgage process. Affordable, fast, easy and eager to serve. That's J.G. Wentworth Home Lending. J.G. Wentworth Home Lending, LLC is licensed in 46 states plus the District of Columbia. NMLS ID 2925. Equal Housing Lender. 3350 Commission Court, Woodbridge, VA 22192.
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