Mount Laurel, New Jersey-based Freedom Mortgage Corporation announced an agreement to acquire the assets of Continental Home Loans of Melville, New York.
Under the acquisition, the management and staff formerly with Continental Home Loans joins CHL Mortgage, a division of Freedom Mortgage.
As Freedom Mortgage’s CHL Division, the organization will continue to be led by its executive team, Mike McHugh, Eric Reeps and Sam Barreta.
This new addition brings Freedom to over 2,000 employees and over $2 billion in monthly loan volume.
Freedom Mortgage President and CEO Stanley Middleman explained that this acquisition is an opportunity to continue the lenders expansion by leveraging a highly expert team with deep knowledge of and an established presence in each of its real estate markets.
“CHL will continue to operate with the same staff and enhanced systems. All loans will continue to be centrally processed and underwritten out of our Melville, New York office,” said Mike McHugh, president of CHL.
“All closing practices and functions will remain the same, ensuring that our borrowers and referral partners will continue to receive the personalized and quality service they have come to expect with us,” he said. “And now we will have the strength and national brand power of Freedom Mortgage behind us.”