Mount Laurel-based Freedom Mortgage Corporation, a full-service residential mortgage lender, announced Monday it has purchased the assets of BluFi Lending, a direct mortgage lender, headquartered in San Diego, Calif. Financial terms were not disclosed.
According to the announcement, in 2013, BluFi originated more than $400 million in residential mortgages.
“The hard work of [BluFi CEO] John Lee and his talented team exemplifies what a well-established mortgage lending organization can accomplish. BluFi Lending built a solid market presence in the Western U.S. and Freedom Mortgage will help them continue to grow,” Stanley C. Middleman, president and CEO of Freedom Mortgage, said in a prepared statement.
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