Newly formed mortgage company acquires Maverick Funding

by MPA02 Apr 2015
Home Point Financial Corp., a new mortgage banking and financial services company, has acquired Five-Star Lender Maverick Funding Corp.

Maverick’s business will serve as Home Point Financial’s initial mortgage banking platform. With 30 retail branches across 10 states and a national third‑party lending operation, Maverick has originated over $3 billion of residential mortgages since 2012.

Maverick’s founders, Ralph Vitiello and Mike Petruccelli, will remain with the company and serve as senior executives focused on the continued growth of the origination network.

Home Point is a nationwide mortgage banking business focused on multi-channel residential mortgage origination and servicing. Home Point Financial is a subsidiary of Home Point Capital LP, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital LLC.

“The acquisition of Maverick provides us with a strong entry point into mortgage banking,” stated Willie Newman, CEO and president of Home Point Financial. “We intend on leveraging and expanding the core capabilities provided by the Maverick acquisition into a diverse, vertically integrated national mortgage banking organization.”
 

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