SAINT PETERSBURG, Fla.--(BUSINESS WIRE)--Marlin Manager, LLC, is pleased to announce that an affiliate, Marlin Mortgage Holdings, LLC (together referred to as “Marlin") has entered into a letter of intent to acquire 100% of the outstanding equity of LoanFront, LLC (“LoanFront”). "The LoanFront acquisition serves a few strategic milestones: adding internal capabilities for retention efforts of the approximate one hundred thirty thousand (130,000) existing Marlin borrowers and access to an existing platform to assist in our planned expansion into Ginnie Mae MSR. Steve Stone will stay on to lead such efforts; we’ve been impressed with what he and his team have achieved in such a short timeframe. The move demonstrates our ability to expand into a business segment where most are exiting,” said Andrew Weber, Marlin Mortgage CEO.
“Joining the Marlin team was a no-brainer for LoanFront. Andrew Weber and his team have built an extremely impressive platform that we are thrilled to be a part of. We are confident that our team will make a great addition and add immediate value. We are excited to be a key player in Marlin’s exponential growth, and the positive impact they make on the mortgage industry as a whole,” said Steve Stone, LoanFront CEO.
The terms of the transaction remain confidential, the Closing of the proposed transaction is subject to customary Financial and Regulatory approvals.
About Marlin Mortgage
Marlin Mortgage, established in 2019, was created to serve as a clearing platform (the "PLATFORM") for buying and selling residential Mortgage Servicing Rights (“MSR”). The PLATFORM provides institutional investors with the virtual access to the skills and tools required to own the MSR asset, while minimizing the operational liabilities associated with ownership, control, and regulatory compliance. As of September 30, 2022, Marlin owns approximately 45 billion of Fannie Mae and Freddie Mac MSRs and through an affiliate, Marlin Manager, LLC, manages $600 million of institutional investor capital commitments. Learn more about Marlin Mortgage at www.marlinmtg.com.
About LoanFront
LoanFront is a direct-to-consumer mortgage lender founded in late 2021 that is focused on delivering a 5-star experience to every customer. Our team is known for providing low rates with an incredibly easy loan process. Our key to success is delivering outstanding customer service, and keeping our customers educated and informed. We treat our customers, industry partners, and employees fairly and with utmost honesty. LoanFront’s rapid success is largely due to our enthusiasm for helping others, and for being a source of guidance during their mortgage experience. Our goal is to put each customer at-ease by knowing their lender is always there for support and encouragement before, during and after their mortgage journey.