Universal American Mortgage Acquires Certain Assets Of Pinnacle

Universal American Mortgage Co. (UAMC), the mortgage banking subsidiary of home builder Lennar Corp., has acquired certain assets of Pinnacle Mortgage Group Inc., with the STRATMOR Group serving as the exclusive advisor to UAMC and initiating the transaction.

Pinnacle, a Colorado-based mortgage company, is licensed in seven Western states and has 10 established retail office locations in Southern California and Colorado. Pinnacle will join UAMC's retail mortgage operations operating under the Pinnacle Mortgage Group brand name while transitioning to UAMC's retail brand name, Eagle Home Mortgage. The combined company is licensed in 26 states and has 100 branch offices.

As part of UAMC, Lennar Corp. says Pinnacle will have access to a larger variety of home loan programs and will be approved directly as a seller and servicer with the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corp. (Freddie Mac) and Government National Mortgage Association.Â

Todd Henderson and Brian Rindels, founders of Pinnacle, will remain with the company as leaders.

UAMC primarily provides financing solutions for home buyers purchasing homes built by Lennar Corp. Pinnacle and Eagle Home Mortgage are traditional retail mortgage operations serving new and resale home buyers, Lennar notes.


Please enter your comment!
Please enter your name here