Mortgage banking company CMG Mortgage Inc. has acquired the retail division of New Jersey-based Homebridge Financial Services, helping to expand CMG’s presence in the retail mortgage vertical.
Over the last 30 years, Homebridge Financial Services has grown to become one of the largest privately held, non-bank lenders in the United States. Homebridge has more than 1,600 associates, more than 180 retail branches and two wholesale divisions: Homebridge Wholesale and REMN Wholesale. The company originated $12 billion in 2022.
“We are thrilled to add the highly successful origination team at Homebridge to our own highly successful retail team at CMG,” says Christopher M. George, CEO of CMG. “From our shared heritage as privately held mortgage companies to our common focus on excellence for our customers and our employees, I am certain that together we will create meaningful opportunities for innovation and growth.”
“CMG is a company that we have always had deep respect and admiration for,” adds Peter Norden, CEO of Homebridge, who will become executive advisor to CMG’s retail division. “Giving our retail sales team the opportunity to join forces with Chris George and his incredible team will position everyone for success in an ever-changing market.”
Homebridge says it plans to retain its wholesale division.