Dream Finders has bought Cherry Creek Mortgage through its subsidiary, Jet HomeLoans.
Cherry Creek is a Freddie Mac and GNMA-approved lender that specializes in the origination of mortgage loans to support new-build construction lending. The acquisition was closed on March 4, marking a significant expansion in Jet HomeLoans' servicing capabilities.
Founded in 1986, Cherry Creek became one of the nation’s preeminent mortgage lending platforms from their headquarters in Denver, Colorado. Under the leadership of founder Jeff May, Cherry Creek built an originator, securitizer, and servicer of conventional and government loans across the United States, including reverse mortgages.
This partnership leverages Jet HomeLoans’ existing retail production strength with Cherry Creek’s robust expertise in servicing and all necessary industry approvals,” said Kelley Hailstone, president of Jet HomeLoans.
“The result is a stronger, more diversified company that will deliver a superior experience for our growing customer base. Most importantly, these complementary capabilities will allow Jet HomeLoans to maximize affordability for our Dream Finders homebuyers."
Sterling Point Advisors, Milliman, Inc.’s Mortgage Solutions team, and McGlinchey Stafford PLLC, a law firm based in New Orleans, LA, advised Jet HomeLoans on the transaction.
