Synergy One Lending to acquire assets of Illinois-based mortgage company

Synergy One Lending has agreed to acquire certain assets of BBMC Mortgage, a national mortgage company based in Lombard, Ill.

Synergy One CEO Terry Connealy said the transaction would allow the company to significantly expands its footprint in the Midwest.

A division of Bridgeview Bank, BBMC offers a 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. The terms of the transaction were not disclosed.

“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,” BBMC Mortgage President Jeff Gennarelli said. “I’m confident this will be an excellent fit for our mortgage customers and employees.”

“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 is a wholly owned subsidiary of Mutual of Omaha Bank, which also does business as Mutual of Omaha Mortgage.