Finance of America intends to acquire Parkside Lending‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months.
The deal, which is expected to close in the second quarter, will boost Finance of America’s third-party origination coverage by more than 1,000 brokers with little customer overlap, the firm said in a statement. Finance of America said it puts the company on the path details ⇒
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