Prospect Mortgage affirmed today that it was moving forward with its planned acquisition of Indymac’s retail mortgage offices and related staff, despite the recent seizure of the troubled mortgage lender.
As part of the deal scheduled to close August 7, Prospect Mortgage will purchase up to 80 loan offices nationwide and hire at least 750 Indymac employees.
“The FDIC has confirmed that the Indymac acquisition is moving forward as planned,” said Mark Filler, Prospect CEO. “The Indymac branches included in the acquisition are funding loans in-process and originating new loans, and will remain open for business through the closing.”
“Borrowers who had loans submitted prior to the acquisition notice have received forms and instructions to facilitate a smooth transfer of their files,” he added.
Once the deal is completed, Prospect Mortgage, which also owns Metrocities Mortgage, will become one of the largest independent retail mortgage lenders in the country.