Wednesday, August 16, 2006 - Freedom Mortgage buys Irwin Financial Corp

However, still on the market are Irwin's conforming, conventional first mortgage servicing platform and servicing portfolio. They are being marketed as separate pieces, explained Matt Souza, Irwin Financial senior vice president because the portfolio is an intangible, but the platform consists of people performing a process. The expressions of interest it has received distinguishes between those two assets.

Irwin services $19.2 billion of first mortgage loans. It did not disclose who is the broker for the portfolio.  In the conforming operation of Irwin, Freedom is getting an operation that has produced $4.4 billion so far this year.

Freedom currently serves primarily the Mid-Atlantic, Northeast, and California through the Northwest. The acquisition of Irwin expands Freedom's reach into the Southeast, Midwest, Arizona and Florida.

With the purchase of Irwin Mortgage's production operations, Freedom will add nearly 40 offices, bringing its total reach to nearly 150 offices nationwide.