“Cherry Creek is a Freddie- and Ginnie-approved lender and we’re excited to reap the benefits of these autos,” Kelley Hailstone, the president of Jet HomeLoans, stated in an interview. “It’s a strategic transfer on our half to acquire that higher execution. Our intention is to supply higher affordability to our prospects who’re shopping for Dream Finders houses and move that alongside as extra aggressive choices for customers.”
Eight staffers from Cherry Creek might be shifting over to Jet as a part of the transaction.
Jet HomeLoans, based in 2017 as a three way partnership with Dream Finders, did roughly $2.3 billion in mortgage origination quantity in 2024. And in July, Dream Finders, a top-10 homebuilder principally centered on the Solar Belt states, acquired the remaining shares of Jet HomeLoans. Just a few months later, Dream Finders acquired Alliant Nationwide Title Co.
Like many massive homebuilders, Dream Finders has used short-term and everlasting mortgage buydowns to draw homebuyers. To that finish, Jet HomeLoans is planning to increase as soon as approvals with the businesses come via and allow the lender to be a direct vendor, Hailstone stated.
Following the Cherry Creek acquisition, Hailstone stated Jet HomeLoans is “very open to partnerships with different lenders” which might be in search of correspondent companions.
Jet HomeLoans was suggested on the transaction by Sterling Level Advisors, Milliman and McGlinchey Stafford.
The announcement caps a busy two weeks of mergers and acquisitions within the mortgage area.
Group financial institution Bank7 acquired a small Oklahoma unbiased mortgage financial institution final week. Earlier this week, Union Dwelling Mortgage introduced the acquisition of NRL Mortgage, a $1 billion lender primarily based in Houston.