Movement Mortgage, a top 10 national retail mortgage lender, is pleased to announce it has acquired the retail lending assets of Platinum Mortgage.
The purchase marks Movement’s second acquisition of 2019, following the successful purchase of the retail mortgage assets of Eagle Home Mortgage earlier this year. The latest transaction gives Movement additional market share in Alabama, where Platinum’s retail footprint is concentrated. Altogether, Movement has more than 3,500 teammates, 650 branch offices and three National Sales Support Centers across its national footprint.
Platinum Mortgage was founded in 1996 and produced more than $300 million in mortgage volume in the state of Alabama in the past year. The Movement-Platinum transaction closed on May 1.
“We’re honored to welcome the Platinum Mortgage team to the Movement family. We know they’ve built a reputation of excellent service and community involvement, and we’re excited to amplify and extend that legacy as part of the Movement team,” says Movement Mortgage Chief Executive Casey Crawford.
STRATMOR Group served as a transaction advisor for this sale.
About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Movement has funded approximately $55 billion in residential mortgages since 2008 and is the seventh-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 3,500 people, has more than 650 branches in the U.S. and is licensed in 49 states. Its nonprofit organization, the Movement Foundation, has reinvested approximately $40 million in communities to date. For more information, visit www.movement.com.