Lennar mortgage subsidiary acquires assets of Pinnacle Mortgage
Universal American Mortgage Company, a mortgage-banking subsidiary of Lennar Corporation (LEN), acquired certain assets of Pinnacle Mortgage Group.
Colorado-based Pinnacle is licensed in seven Western states and has established retail office locations in Southern California and Colorado.
As a result, Pinnacle will have access to a larger variety of mortgage products and will operate under UAMC’s retail branch name, Eagle Home Mortgage.
"We believe leveraging the vast resources of the Lennar Family of Companies will strengthen our value proposition and grow market share," said Todd Henderson, who founded Pinnacle with Brian Rindels.
Rindels added, "We look forward to building a stronger franchise together to become the destination of choice for top-tier loan originators." Henderson and Rindels will remain with the company as leaders of Pinnacle.
While UAMC primarily focuses on providing financing solutions for homebuyers purchasing homes by Lennar Corporation, Pinnacle will focus on serving new and resale homebuyers.