The expansion of our services includes the addition of various products such as residential transition loans, construction and builder financing, multifamily lending, home equity lines of credit (HELOCs), and second-lien strategies.
These investments will be managed by CrossCountry Capital (CCC), a subsidiary that was established in 2022 and currently oversees a portfolio of $7 billion in loans. CCC’s nonagency securitization program has successfully attracted over 50 institutional investors.
Ron Leonhardt, the founder of Ohio-based CCM in 2003, emphasized that the asset management arm plays a crucial role in supporting the company’s origination business, enabling them to take advantage of the current market conditions.
CrossCountry Mortgage operates a total of 960 retail locations. According to the Nationwide Multistate Licensing System (NMLS) data, they have 727 active branches and 4,347 sponsored loan officers. The company boasts a workforce of over 8,000 employees and offers a wide range of mortgage, refinance, and home equity products.
“The continuous growth of CCC allows us to diversify our business model beyond core origination and servicing activities in a capital-efficient manner, showcasing our ability to originate high-quality non-agency mortgage investments,” stated Madhur Agarwal, CCM’s chief financial officer.
Hildene, a credit-focused alternative asset manager with assets worth $16.8 billion, has been a key partner in our endeavors. They recently closed a $496.3 million securitization backed by 968 non-QM loans in August and a $416.4 million deal in June supported by 881 residential mortgages. Both transactions were exclusively originated through Hildene’s collaboration with CCM.