SAN DIEGO--(BUSINESS WIRE)--Synergy One Lending has reached a definitive agreement to acquire certain assets of BBMC Mortgage, a national mortgage company based in Lombard, Ill., Synergy One CEO Terry Connealy announced.
A division of Bridgeview Bank, BBMC offers a full suite of home financing products and services including traditional mortgage products and reverse mortgages through a wide network of loan officers, as well as direct sales channels.
In addition to acquiring select assets and leases, Synergy One expects to transition most BBMC employees to the company, which is a wholly owned subsidiary of Mutual of Omaha Bank that also does business as Mutual of Omaha Mortgage.
The terms of the transaction were not disclosed.
“BBMC has built an impressive team and we are a strong cultural fit – with both firms committed to a relentless drive towards an exceptional customer experience through the combination of talent, technology, and digital marketing expertise. We are excited by the potential this transaction offers to expand and serve more customers in the traditional and reverse mortgage markets,” Connealy said.
“Synergy One and Mutual of Omaha Bank put their customers first, which aligns closely with BBMC’s culture and commitment to honesty, fair dealing and superior customer service,” said Jeff Gennarelli, President of BBMC Mortgage. “I’m confident this will be an excellent fit for our mortgage customers and employees.”
The transaction significantly expands Synergy One’s footprint in the Midwest and brings complementary strengths to the company while building on common culture, technologies and talent, Connealy said.
“The impact of combining these organizations is impressive,” Connealy said. “It is unusual for market timing, talent and strategic direction to align in such a compelling manner and we’re excited by the possibilities that lie ahead.”
About Synergy One Lending, Inc.
A wholly owned subsidiary of Mutual of Omaha Bank, Synergy One Lending is an agency approved Seller/Servicer, licensed to conduct mortgage origination activities in 45 States. The Firm is strategically built to support and grow both retail and wholesale business channels, while operating under the brand Retirement Funding Solutions for its reverse mortgage lending activities and More Lending for its specialty product Wholesale Channel. Synergy One Lending also does business as Mutual of Omaha Mortgage. For more information on Synergy One Lending, visit www.s1lending.com.