The previously announced acquisition of a mortgage business from a financial institution in the Empire State has been completed by Freedom Mortgage Corp.
In June,
the Mount Laurel, New Jersey-based mortgage banking firm disclosed that it had come to an agreement to acquire the mortgage banking business of New York Community Bank.
The deal included the Waterbury, New York-based bank’s
origination and servicing platforms, mortgage servicing rights on around $21 billion in agency loans and $500 million in mortgage assets.
New York Community Bank picked up the mortgage business in late 2009 from its acquisition of the failed AmTrust Bank in Cleveland.
Freedom Mortgage has confirmed that it closed on the acquisition of the mortgage business on Friday.
But Freedom Mortgage declined to comment on the final tally of MSRs and employees it picked up through the transaction.
