Synergy One Lending has announced that it has purchased the company's Synergy One brand from Mutual of Omaha Mortgage.
Mutual of Omaha Bank acquired the San Diego-based mortgage company in 2018 to expand its reverse mortgage offerings. Last week, Synergy One's management team purchased the assets and operations of its distribution channel and the company's brand from Mutual of Omaha Mortgage through a management buyout (MBO) transaction.
The MBO deal was led by Synergy One CEO Steve Majerus and its president, Aaron Nemec. In the past few years, the company reported quadrupling its loan production.
"This acquisition enables us to more aggressively pursue our pipeline of opportunities and to continue to evolve our operational and sales platforms in building a fintech-enabled company that aligns our team with the experience our customers demand," Nemec said.
"Aaron and I are sincerely grateful for the opportunity to lead Synergy One into the future. Our confidence in our team and our collective ability to execute couldn't be higher," Majerus said.
The financial terms of the acquisition were not disclosed.