Earlier this year, Freedom Mortgageand its founder and CEO Stanley C. Middleman were presented withthe Liberty United Service Organizations' (USO) 2018 Chairman'sAward in honor of their service to the military community and theirsupport of Liberty USO.

MOUNT LAUREL, NJ—Locally-based Freedom Mortgage Corp. reports ithas entered into a merger agreement with Charlotte, NC-basedRoundPoint Mortgage Servicing Corp.

Upon the closing of the deal, which is expected in the third andfourth quarter of this year, RoundPoint will become a wholly-ownedsubsidiary of Freedom Mortgage.

Following the merger, Freedom Mortgage's combined owned andsubserviced mortgage servicing rights portfolio is expected to bein excess of $300 billion. The merger also provides FreedomMortgage with an active subservicing platform and broadens thescope of the company's co-issue origination network, the companystates.

Founded in 1990, Freedom Mortgage is a non-bank, full-servicemortgage company that provides mortgage loan servicing andoriginations through retail, wholesale, and correspondent channels.The firm is the nation's fifth largest mortgage provider and islicensed in all 50 states.

“This merger will create a much larger and stronger organizationwith significant synergies,” says RoundPoint CEO Kevin Brungardt.“RoundPoint will benefit operationally in many ways, includinghaving access to Freedom Mortgage's substantial originationplatform. With the combination of servicing portfolios, the mergermakes the company the seventh largest U.S. mortgage servicernationwide.”

RoundPoint, which began operations in 2007, currently servicesand subservices approximately $91 billion in unpaid mortgage assetscomprised primarily of agency loans. RoundPoint, which also has anoffice in Dallas, also originates loans through its loan officersand its correspondent program.

“I am pleased to welcome RoundPoint's highly successful andprofessional team to the Freedom family,” says Stan Middleman, CEOof Freedom Mortgage. “We very much appreciate the hard work byeveryone involved in making this merger happen, and look forward toworking together.”

Goldman Sachs & Co. LLC served as financial advisor toRoundPoint and Sidley Austin LLP served as legal counsel. ClassicStrategies Group served as financial advisor to Freedom Mortgageand Zuckerman Gore Brandeis & Crossman LLP served as legalcounsel to the firm.