A Huntsvile mortgage company has been acquired by a top 10 national retail mortgage lender.
The retail lending assets of Platinum Mortgage, founded in 1996, have been bought by Movement Mortgage, a South Carolina-based firm. The terms of the deal, which closed May 1, were not disclosed.
It’s Movement’s second acquisition of this year, following the purchase of the retail mortgage assets of Eagle Home Mortgage of Florida earlier this year. Altogether, Movement has more than 3,500 employees, 650 branch offices and three national sales support centers.
Platinum Mortgage produced more than $300 million in mortgage volume in Alabama in the past year.
“We’re honored to welcome the Platinum Mortgage team to the Movement family," Movement Mortgage Chief Executive Casey Crawford said. “We know they’ve built a reputation of excellent service and community involvement, and we’re excited to amplify and extend that legacy as part of the Movement team.”