Marlin Manager LLC’s Marlin Mortgage Holdings LLC has entered into a letter of intent to acquire 100% of the outstanding equity of LoanFront LLC, a direct-to-consumer mortgage lender.
“The LoanFront acquisition serves a few strategic milestones: adding internal capabilities for retention efforts of the approximate 130,000 existing Marlin borrowers and access to an existing platform to assist in our planned expansion into Ginnie Mae MSR,” says Andrew Weber, Marlin Mortgage’s CEO. “Steve Stone will stay on to lead such efforts; we’ve been impressed with what he and his team have achieved in such a short timeframe. The move demonstrates our ability to expand into a business segment where most are exiting.”
“Joining the Marlin team was a no-brainer for LoanFront. Andrew Weber and his team have built an extremely impressive platform that we are thrilled to be a part of,” states Steve Stone, LoanFront’s CEO. “We are confident that our team will make a great addition and add immediate value. We are excited to be a key player in Marlin’s exponential growth, and the positive impact they make on the mortgage industry as a whole.”