By Danielle Dandan
FBC Mortgage is returning under the watch of brothers Joe and Robert Nunziata as they buy back the residential lender from Sterne Agee Group.
The deal, which is set to be closed in March, will keep FBC Mortgage’s name and the Orlando headquarters. The Nunziatas are accompanied by FBC Mortgage executives, employees and former investors in the acquisition and together formed Pine Court Holdings. The group did not disclose the amount.
Founded in 2005, FBC Mortgage was purchased by Sterne Agee in 2012. The latter has announced Friday its latest acquisition, Stifel Financial. “Our team is very excited about the re-acquisition of the company,” said Rob Nunziata. The lender has 450 employees across the U.S., with most of them located in Central Florida.
Many of them were with Americn Heritage Mortgage, a brainchild of Salvatore Nunziata Jr., father of Joe and Robert. “We are truly excited to become an independent mortgage banker again focused solely on residential lending, and we are optimistic about our growth opportunities,” Joe Nunziata said.