Daily News: August 20, 2014

Deloitte Advises Pinnacle on Sale to UAMC

Universal American Mortgage announced it acquired certain assets of Pinnacle Mortgage Group. Deloitte served as the exclusive financial advisor to Pinnacle.

“We’re excited about the opportunity to grow our presence in California and Colorado through this acquisition which we believe is an excellent cultural fit,” said Jimmy Timmons, president of UAMC. “Both organizations have enjoyed success over the years by building strong team cultures and focusing on customer satisfaction.”

As part of UAMC, Pinnacle will have access to a larger variety of conventional and niche home loan programs and will be approved directly as a seller and servicer with the Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and Government National Mortgage Association (GNMA).

“We believe leveraging the vast resources of the Lennar Family of Companies will strengthen our value proposition and grow market share,” said Todd Henderson, who founded Pinnacle with Brian Rindels. “We look forward to building a stronger franchise together to become the destination of choice for top-tier loan originators.”

Henderson and Rindels will remain with the company as leaders of Pinnacle.

UAMC primarily provides financing solutions for home buyers purchasing homes built by Lennar Corporation. Pinnacle and Eagle Home Mortgage are traditional retail mortgage operations serving new and resale home buyers.