Supreme Lending, a mortgage company founded in 1999, has been active in the housing market, originating $3.8 billion in loans, primarily in Texas, Florida, and California. Recently, the company confirmed its acquisition of MiMutual, a mortgage lender, to enhance its retail operations. This move is expected to bolster Supreme's annual volume by about $860 million, particularly in the Michigan market, where MiMutual has a strong presence. The deal's terms were not disclosed, and further details are still being finalized regarding MiMutual's staff roles post-acquisition.
We're really interested in their retail business, that's what attracted us to the organization from the get go, Pezzani said in an interview.
Though Pezzani said Supreme is focused on the retail component, they'd potentially dip their toes in the wholesale lending waters with the acquisition of MiMutual.
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