Freedom Mortgage Corporation

Overview

Deal Type Debt Capital Markets
Size $1.84 Billion
Senior Secured Credit Facility
Client & Transactional Partners Freedom Mortgage Corporation
Our Role Joint Lead Arranger
Administrative Agent

Summary

On September 30, 2024, KeyBanc Capital Markets (KBCM) successfully closed the syndication of a $1.84 billion Senior Secured Revolving Credit Facility (the Credit Facility) for Freedom Mortgage Corporation (Freedom or the Company). The syndicated transaction was successfully oversubscribed, and three new investors participated in the Credit Facility. Proceeds will support the Pledged Servicing Rights, Eligible Servicing Receivables, and allow Freedom to purchase additional portfolios of mortgage servicing rights (MSRs). KBCM acted as Joint Lead Arranger and Administrative Agent on the transaction.

Founded in 1990 and headquartered in Boca Raton, Florida, Freedom is a top-tier residential mortgage company engaged in the origination, servicing, selling and securitization of primarily agency-eligible residential mortgage loans. The Company is the 7th largest non-bank servicer and the 2nd largest mortgage originator in the United States, inclusive of co-issue. Freedom sources loans through its three channels – correspondent, wholesale, and call center – and competes through focused customer acquisition and retention strategies. The Company is 100% owned by its sole shareholder, Stan Middleman and family trusts.

B I Deal Disclosure

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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