Anniemac expands into Florida with purchase of lender

Anniemac Home Mortgage is buying a small Florida-based shop, in a move that will grow its presence in the Sunshine State.

Anniemac will acquire certain assets of Florida Funding, a firm based in Orlando. Since its founding in 2017, the Florida-based company has originated more than $600 million in loans, a press release claims.

Details of the transaction were not disclosed Thursday.

"This acquisition is a testament to AnnieMac's commitment to growth through strategic partnerships," said Anniemac's CEO Joseph Panebianco, in a statement. "By partnering with Florida Funding, we will be able to expand our operations and offerings to various borrowers in the Florida market."

Several members of Florida Funding will transition to Anniemac's OVM Financial division, a Virginia-based lender previously acquired by the New Jersey firm in 2022.

The integration of the newly acquired firm "ensures continuity of service for Florida Funding's clients and partners, including its long-standing relationship with Robert Slack Real Estate brokerage," Anniemac said. 

Robert Slack Real Estate notes on its website that it has a "business relationship" and an ownership interest in Florida Funding, to which it refers homebuyers.

Florida Funding, which is licensed in five states, including Florida and Texas, currently sponsors five loan officers, according to the Nationwide Multistate Licensing System. Meanwhile, Anniemac has an LO headcount of 557 and is licensed to operate in all 50 states.  

"We couldn't be more excited to partner with the ownership at Florida Funding to continue supporting their existing partnerships with Robert Slack Real Estate and their other valued partners and customers," said Matt Beckwith, executive vice president of the OVM division and previous owner of OVM. "This acquisition is not only about honoring their strong legacy but also about creating new opportunities to grow and expand."

Though not as active in recent years as other companies in the mergers and acquisitions space, Anniemac has steadily purchased firms to expand into new markets.

In 2022, Anniemac Home Mortgage moved to buy another New Jersey-based shop Family First Funding. Months later, the firm acquired OVM to expand its mid-Atlantic reach.