Mount Laurel, N.J.-based Freedom Mortgage Corporation purchased the assets of BluFi Lending, a direct mortgage lender with branches in California and Nevada.
Under the agreement, BluFi Lending’s five branches will be rebranded as Freedom Mortgage, falling in line with the firm's strategy to expand its retail lending footprint in the Western U.S.
“The hard work of [BluFi CEO] John Lee and his talented team exemplifies what a well-established mortgage lending organization can accomplish. BluFi Lending built a solid market presence in the Western U.S. and Freedom Mortgage will help them continue to grow,” said Stanley Middleman, president and CEO of Freedom Mortgage. “Freedom Mortgage is gaining valuable expertise, proven marketing tools and a retail platform to expand. We’re pleased to have them become a part of Freedom Mortgage.”
“The industry’s changes are opening up a lot of opportunities for lenders that have a solid plan in place,” said Middleman. “Some companies are downsizing but, at Freedom Mortgage, we’re growing.”