Prospect Mortgage

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Prospect Mortgage
Type Private
Industry Finance
Founded 2006
Headquarters Sherman Oaks, CA, U.S.
Area served United States
Key people Ron Bergum, CEO
Tom Fiddler, COO
Products Financial services
Parent Prospect Holding Co., LLC
Website www.MyProspectMortgage.com

Headquartered in Sherman Oaks, CA, Prospect Mortgage is one of the largest independent residential retail mortgage lenders in the United States. It is a lender offering home loans. Prospect Mortgage is backed by Sterling Partners, a private equity firm. With approximately $4 billion of assets under management, Sterling invests growth capital in industries with positive, long-term trends and provides ongoing support to management through a team of industry professionals. Sterling Partners is active in education, healthcare and business services and is co-headquartered in Chicago and Baltimore.[citation needed]

[edit] History

In early 2007, Prospect Mortgage, LLC acquired Metrocities Mortgage, LLC. Also in 2007, Metrocities Mortgage, LLC acquired certain assets from Opteum Financial Services, LLC and Fidelity and Trust Mortgage, LLC.

In July 2008, Metrocities Mortgage, LLC signed an agreement to acquire the majority of Indymac Bank Home Lending's retail mortgage branches.

In 2009, Metrocities Mortgage, LLC took the name Prospect Mortgage, LLC, uniting most of its divisions under one name. Prospect Mortgage, LLC operates as Prospect Lending, LLC in NY and as Prospect Mortgage, LLC of Delaware in Ohio.[1]

[edit] References

  1. ^ "About Prospect". Prospect Mortgage.

[edit] External links

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