Blackstone mortgage venture set to become largest nonbank lender?

Housingwire:

Finance of America Holdings, a Blackstone (BX) portfolio company, revealed that it snatched up several major lenders, a move likely destined to make it one of the nation’s largest nonbank originators, if all goes as planned.

Blackstone is a full-service, private-equity funded investment bank based out of New York. It recently touted the strength of the housing market and helped make the REO-to-rental market a bona fide asset class. And it’s recent mortgage-lending ventures show a rapid push into the markets, allowable from the deep pockets at Blackstone.

The significant list of acquisitions now includes Gateway Funding Diversified Mortgage Services, Pinnacle Capital Mortgage and certain assets and operations of PMAC Lending Services. Finance of America Holdings also ownsUrban Financial of America.

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