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Freedom Mortgage to acquire RoundPoint Mortgage Servicing

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Freedom Mortgage to acquire RoundPoint Mortgage Servicing

Mount Laurel, N.J.-based Freedom Mortgage Corp. agreed to buy Charlotte, N.C.-based RoundPoint Mortgage Servicing Corp.

Financial terms of the deal, which is set to close in the third or fourth quarter, were not disclosed.

Upon deal completion, the combined institution's owned and subserviced mortgage servicing rights portfolio is likely to be in excess of $300 billion.

Goldman Sachs & Co. LLC served as financial adviser to RoundPoint in the transaction, with Sidley Austin LLP as legal counsel. For Freedom Mortgage, Classic Strategies Group served as financial adviser and Zuckerman Gore Brandeis & Crossman LLP served as legal counsel.