Freedom Mortgage Corp., a mortgage lender based in Mount Laurel, announced Thursday it has officially acquired J.G. Wentworth Home Lending LLC, a direct and home mortgage lending subsidiary of J.G. Wentworth Co.
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 throughout the United States.
Freedom said the deal will expand its reach in several new markets, including the mid-Atlantic region.
“J.G. Wentworth Home Lending’s excellent track record of serving first-time and veteran homebuyers make them a perfect addition to Freedom Mortgage,” Stanley Middleman, founder and CEO of Freedom Mortgage, said. “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.”
Financial terms of the deal were not disclosed.
“We are very pleased to enter this next chapter in our company’s history,” Phil Buscemi, president at J.G. Wentworth Home Lending, said. “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.”