Sep 21, 2020, 12:00:00 PM GMT
Mount Laurel, NJ – September 21, 2020 – Freedom Mortgage, one of the nation’s largest full-service non-bank mortgage companies and a leader in VA and government-insured lending, was the nation’s top VA loan lender during the first half of the year, according to Inside Mortgage Finance. The company has originated and funded nearly $21 billion in VA loans through the second quarter of 2020, based on information obtained by the publication.
Freedom Mortgage’s ranking is based on Inside Mortgage Finance’s review of the 100 top VA lenders from the Department of Veterans Affairs. The company’s total volume includes purchase loans, Interest Rate Reduction Refinance Loans (IRRRL) and cash-out refinance loans made through the first half of the year. The publication found that during the second quarter, Freedom Mortgage originated $13.9 billion in VA loans, more than twice as much as any other VA lender.
"We’re having an incredible year supporting homeownership for so many families, especially improving the lives of our military communities," said Freedom Mortgage CEO Stanley C. Middleman. "We recently adjusted our minimum FICO score requirements to help even more creditworthy veterans and active military personnel with their home financing needs."
Freedom Mortgage has also ramped up its efforts to support various military and civilian non-profits nationwide during 2020. This fall, the company held its eighth annual Rucksacks to Backpacks program, during which employees donated over $90,000 worth of back-to-school supplies to the children of military families. The company supported its employees’ efforts by making a $10,000 donation to the USO, resulting in a total charitable contribution valued at $100,000. Donations went to the USO of Arizona, Bob Hope USO, USO Indiana, USO of Central and Southern Ohio, USO of Greater Jacksonville, USO of Metropolitan Washington-Baltimore, USO of Pennsylvania and Southern New Jersey, and USO of Metropolitan New York.
Due to COVID-19 restrictions, this year’s campaign was held virtually. Employees purchased backpacks and school supplies online and shipped the items directly to individual USOs, where backpacks were assembled and distributed at drive-through events at each location. In spite of these restrictions, in 2020 the company donated nine times as many school supplies as it did in 2019.
"It’s no surprise to me that our employees went above and beyond for this year’s Rucksacks to Backpacks campaign, even during a pandemic," Middleman said. "An important part of our mission at Freedom is to give back to active military, veterans and their families and to remember those less fortunate, so we always find a way."
Click here to see a short video on the company’s work with the Rucksacks to Backpacks program.
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.
Established in 2013, Team Freedom Cares provides Freedom Mortgage employees, family members, friends and customers information on activities that benefit local communities, as well as active duty, reserve and veterans of all branches of our military. Team Freedom Cares also encourages employees to take action for the betterment of their community. For more information, visit www.teamfreedomcares.org/.