For Immediate Release
Home Point Financial Corporation Acquires Maverick Funding Corp.
Ann Arbor, Michigan – April 2, 2015 - Home Point Financial Corporation (“Home Point Financial”), a new mortgage banking and financial services company, has announced the acquisition of Maverick Funding Corp. (“Maverick”).
Maverick’s business will serve as Home Point Financial’s initial mortgage banking platform. With 30 retail branches across 10 states and a national third party lending operation, Maverick originated over $3 billion of residential mortgages since 2012. Maverick’s founders, Ralph Vitiello and Mike Petruccelli, will remain with the company and serve as senior executives focused on the continued growth of the origination network.
“The acquisition of Maverick provides us with a strong entry point into mortgage banking,” stated Willie Newman, CEO and President of Home Point Financial. “We intend on leveraging and expanding the core capabilities provided by the Maverick acquisition into a diverse, vertically integrated national mortgage banking organization.”
About Home Point Financial Corporation
Home Point Financial is a nationwide mortgage banking business focused on multi-channel residential mortgage origination and servicing. Home Point Financial is a subsidiary of Home Point Capital LP, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital LLC. For further information about Home Point Financial, please visit our website www.homepointfinancial.com.