Cherry Creek Mortgage has undergone a reorganization of its corporate structure to better support its continued growth.
The company is now owned by Cherry Creek Holdings, which was formed to operate the mortgage business and make room for future expansion.
As part of this reorganization, Rick Seehausen has been named president and chief operating officer of Cherry Creek Holdings.
Under the restructuring, the company is 100% owned by the family of its co-founder, Jeffrey May. Previously, the company was owned by the families of May and its other co-founder, the late U.S. Sen. Bill Armstrong.
Terms of the change in ownership were not disclosed.
May will serve as chairman and CEO of Cherry Creek Holdings and will continue to serve as president of Cherry Creek Mortgage.
Seehausen joined Cherry Creek Mortgage in 2019 as executive vice president. Previously, Seehausen was the founder and CEO of LenderLive, which he grew into the mortgage industry’s largest provider of outsourced fulfillment services.
In his role with Cherry Creek, Seehausen will oversee all company operations, including IT, human resources, legal, accounting, marketing and compliance divisions.
Founded in 1987, Cherry Creek Mortgage provides a robust offering of FHA, conventional and jumbo purchase and refinance mortgage loans utilizing a highly advanced, proprietary technology platform.
The company originates loans through more than 70 retail branches, a consumer direct channel, wholesale, and a number of joint ventures.