HORSHAM, Pa. & ROSEVILLE, Calif.--(BUSINESS WIRE)--Finance of America Holdings LLC, a Blackstone (NYSE: BX) portfolio
company, announced today that it has completed a series of acquisitions
including Gateway Funding Diversified Mortgage Services Inc., Pinnacle
Capital Mortgage LLC and certain assets and operations of PMAC Lending
Services, Inc. Finance of America Holdings LLC also owns Urban Financial
of America, LLC, one of the nation's largest reverse mortgage lenders.
As a result of these acquisitions, Finance of America through its
operating subsidiaries will rank among the largest non-bank originators
in the United States and will be licensed in over 45 states. It will
operate in each of the retail, wholesale and correspondent channels and
have its own servicing capabilities. More specifically it will operate
approximately 300 retail lending branches, 5 wholesale and correspondent
centers and employ over 3,000 professionals, of which over 1,400 are
licensed loan officers.
"We see great opportunity in the U.S. lending and resulting investment
space. The people and operations associated http://www.4shared.com/office/eyLjALSMce/How_should_I_invest_the_money_.html with these businesses, the
capital of our partners and strategic items yet to be announced should
provide us with a significant and enduring edge in this highly
competitive industry," said Brian Libman, Executive Chairman of Finance
of America Holdings LLC.
"We seized the opportunity to become part of a nationwide mortgage
lender by joining the Finance of America team. We are truly excited to
be a part of the vision," said Robert Boliard, CEO and President of
Pinnacle Capital Mortgage, to become President of Western Retail and
Nationwide Wholesale for Finance of America Mortgage.
"The opportunity, strength, and synergy associated with Finance of
America is exciting and I am confident we will change the face of
mortgage banking" said Bruno Pasceri former CEO and President of Gateway
Funding, to become President of Eastern Retail and Nationwide
Correspondent lending for Finance of America Mortgage.
For further information: For all inquiries, please contact Marketing and
Communications at firstname.lastname@example.org
Finance of America Mortgage LLC
2015 Finance of America Holdings LLC, NMLS #1071