Excelerate Capital Expands Nationwide Lending Platform with Acquisition of Castle Mortgage Corporation
NEWPORT BEACH, CA - CALIFORNIA, UNITED STATES, February 2, 2021 /EINPresswire.com/ -- Calculated Risk Analytics, LLC, a California Limited Liability Company doing business as Excelerate Capital ("Excelerate" or the "Company") announced today the successful completion of its acquisition of Castle Holdings Corporation, a Delaware corporation ("Castle Holdings") and its wholly-owned subsidiary Castle Mortgage Corporation, a Delaware corporation ("Castle Mortgage" or "Castle") effective February 1, 2021. All parties are privately held. The Company will operate Castle under the fictitious business name Excelerate Capital.
The acquisition of Castle Mortgage is a strategic move on the part of Excelerate to expand its origination footprint nationwide and immediately position itself as a direct Fannie Mae, Freddie Mac and Ginnie Mae Seller/Servicer.
Mike Thompson, co-founder of Excelerate who will continue to lead the Company as Chairman and Managing Member, stated, "Castle Mortgage is an ideal strategic fit for Excelerate, and we are thrilled to have them join forces with us. Beyond their state licensing and federal agency approvals, their leadership team possesses deep knowledge and experience in all aspects of mortgage lending to help move the Excelerate enterprise to the next level."
Excelerate President Thomas Yoon shared Thompson's enthusiasm about the acquisition, adding, "we are excited, and believe our success will allow our borrowers to benefit from additional loan products and services. We will have the opportunity for a nationwide footprint to expand as a forward-thinking, entrepreneurial firm offering both Non-QM and QM financing with a commitment to excellence and always putting borrowers first".
About Excelerate Capital
Excelerate is a multi-state full-service wholesale and retail, residential mortgage banker headquartered in Newport Beach, California. The Company is an industry leader in direct NonQM origination, having been an early adopter of NonQM lending following the advent of the Ability-To-Repay (ATR) rule in 2014. It also provides a full range of agency conforming financing, including FHA, VA, Fannie Mae, and Freddie Mac programs.
Additional information about Excelerate and its line of wholesale and retail mortgage products can be found at www.exceleratecapital.com.
About Castle Mortgage
Castle Mortgage Corporation is an independent mortgage company established in 1986 and headquartered in San Diego, California that originates mortgage loans secured by 1-4 family residential properties throughout the United States. Castle has lending licenses in 45 states and the District of Columbia and maintains Ginnie Mae, Fannie Mae, and Freddie Mac seller/servicer approvals. It retains servicing on loan originations through the use of established subservicer relationships.
The acquisition of Castle Mortgage is a strategic move on the part of Excelerate to expand its origination footprint nationwide and immediately position itself as a direct Fannie Mae, Freddie Mac and Ginnie Mae Seller/Servicer.
Mike Thompson, co-founder of Excelerate who will continue to lead the Company as Chairman and Managing Member, stated, "Castle Mortgage is an ideal strategic fit for Excelerate, and we are thrilled to have them join forces with us. Beyond their state licensing and federal agency approvals, their leadership team possesses deep knowledge and experience in all aspects of mortgage lending to help move the Excelerate enterprise to the next level."
Excelerate President Thomas Yoon shared Thompson's enthusiasm about the acquisition, adding, "we are excited, and believe our success will allow our borrowers to benefit from additional loan products and services. We will have the opportunity for a nationwide footprint to expand as a forward-thinking, entrepreneurial firm offering both Non-QM and QM financing with a commitment to excellence and always putting borrowers first".
About Excelerate Capital
Excelerate is a multi-state full-service wholesale and retail, residential mortgage banker headquartered in Newport Beach, California. The Company is an industry leader in direct NonQM origination, having been an early adopter of NonQM lending following the advent of the Ability-To-Repay (ATR) rule in 2014. It also provides a full range of agency conforming financing, including FHA, VA, Fannie Mae, and Freddie Mac programs.
Additional information about Excelerate and its line of wholesale and retail mortgage products can be found at www.exceleratecapital.com.
About Castle Mortgage
Castle Mortgage Corporation is an independent mortgage company established in 1986 and headquartered in San Diego, California that originates mortgage loans secured by 1-4 family residential properties throughout the United States. Castle has lending licenses in 45 states and the District of Columbia and maintains Ginnie Mae, Fannie Mae, and Freddie Mac seller/servicer approvals. It retains servicing on loan originations through the use of established subservicer relationships.
Excelerate Capital
+1 844-432-3685
pr@exceleratecapital.com
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