Freedom Mortgage Corp. and RoundPoint Mortgage Servicing Corp. have entered into a merger agreement in which RoundPoint will become a wholly-owned subsidiary of Freedom Mortgage.
Terms of the deal, which is expected to close in the third or fourth quarter, were not divulged.
Founded in 2007, RoundPoint currently services and subservices approximately $91 billion in unpaid mortgage assets comprised primarily of agency loans.
The company also originates loans through its loan officers and its correspondent program.
Following the merger, Freedom Mortgage’s combined owned and subserviced mortgage servicing rights (MSR) portfolio is expected to be in excess of $300 billion.
