Movement Mortgage in Indian Land, S.C., has acquired Mortgage Network in Danvers, Mass.
Movement said in a press release that the purchase should add $2 billion in annual mortgage loan volume. It increased Movement’s national retail mortgage footprint by 250 mortgage professionals and 31 offices in 27 states.
The price wasn’t disclosed.
“We want to grow, and we look for teams and individuals in alignment with Movement’s mission to love and value people. We found that and more in the Mortgage Network team,” Movement CEO Casey Crawford said in the release.
Movement said it expects to retain the staff across the acquired network.
Houlihan Lokey and Pierce Atwood advised Mortgage Network. Troutman Pepper advised Movement.