Jet HomeLoans Makes Strategic Move with Cherry Creek Acquisition
Jet HomeLoans, in partnership with Dream Finders, recently announced the acquisition of Cherry Creek, a Freddie- and Ginnie-approved lender. President Kelley Hailstone expressed excitement about the move, stating, “It’s a strategic move on our part to obtain that better execution. Our intention is to provide better affordability to our customers who are buying Dream Finders homes and pass that along as more competitive offerings for consumers.”
As part of the transaction, eight staffers from Cherry Creek will be joining Jet HomeLoans.
Jet HomeLoans, established in 2017, reported approximately $2.3 billion in mortgage origination volume in 2024. Following the full acquisition by Dream Finders, the company is set to expand its offerings and become a direct seller once approvals with the agencies are finalized.
In light of the Cherry Creek acquisition, Hailstone mentioned that Jet HomeLoans is open to partnerships with other lenders seeking correspondent partners.
The transaction was advised by Sterling Point Advisors, Milliman, and McGlinchey Stafford.
This announcement follows a series of mergers and acquisitions in the mortgage industry, including Bank7’s acquisition of a small Oklahoma independent mortgage bank and Union Home Mortgage’s acquisition of NRL Mortgage, a $1 billion lender based in Houston.