AnnieMac Home Mortgage is acquiring Virginia-based mortgage provider OVM Financial to expand its presence in the mid-Atlantic US.
“OVM is an incredibly talented team, and we are thrilled to be adding them to the AnnieMac platform,” said President Ryan Kube. “In a rising rate environment, growth, scale and culture are more important than ever. OVM brings that to AnnieMac in spades.”
OVM Financial is a $1.7 billion purchase focused mortgage originator with over 220 employees, headquartered in Virginia Beach, Virginia with offices across Virginia and in North Carolina, Texas, and Florida. All four owners as well as CEO Adam Newman, VP of Sales Brian Hill, amongst others will take on active leadership roles at AnnieMac.
“We’re excited to partner with AnnieMac to continue providing exceptional service to our customers and referral partners” said OVM Financial owner Matt Beckwith. “AnnieMac provides growth opportunities to our employees, and we share the excitement for what our two organizations can do together.”
About AnnieMac Home Mortgage
AnnieMac Home Mortgage is a leading nationwide mortgage lender that firmly believes homeowners and home shoppers deserve more from the mortgage industry. With over 1000 employees and 60+ branch locations in the United States, we are uniquely qualified to provide more to mortgage customers across the country. AnnieMac Home Mortgage is headquartered in Mount Laurel, N.J., and is a d/b/a of American Neighborhood Mortgage Acceptance Company, LLC.
AnnieMac was advised on the transaction by Sterling Point Advisors, an M&A advisory firm based in Richmond, Virginia, with legal counsel provided by Johnston Thomas PC and Morritt Hock LLP.
