Cypress, California-based LenderMac Holdco LLC has agreed to acquire Direct Mortgage Corp. in a move aimed at expanding its geographic footprint and building a multichannel mortgage platform, the companies announced Tuesday. Financial terms of the deal were not disclosed.
“This acquisition represents an important step in our long-term growth strategy,” Kenneth Jo, CEO of LenderMAC, said in a statement. “Direct Mortgage Corp. brings strong operational expertise, an established national presence and a culture aligned with our commitment to service and execution.”
LenderMac, which also owns Bridgeway Lending Partners LLC, originates mortgages through wholesale, nondelegated and correspondent channels. The company offers customized lending options, including exclusive nonqualified mortgage products and other alternative loan solutions.
LenderMac holds licenses in 18 states, according to the Nationwide Multistate Licensing System, and technology platform RETR shows the company produced $124 million in originations over the past 12 months.
Direct Mortgage, a Utah-based lender, holds agency approvals with Fannie Mae, Freddie Mac and Ginnie Mae. The company originated approximately $44 million over the past year, primarily in conventional and purchase mortgages.
The transaction is expected to improve secondary market execution and broaden product distribution capabilities, supporting LenderMac’s strategy for disciplined, scalable national growth.
