DTCF Advises on Another Mortgage Banking Transaction
Highlights DTCF’s Experience in the Sector
Deloitte & Touche Corporate Finance (DTCF) is pleased to announce its role as the exclusive financial advisor to American Mortgage Express Financial, in connection with the sale of its subprime/wholesale platform, Millennium Funding Group, to Ace Mortgage Funding, LLC.
The transaction encompasses all the assets associated with Millennium Funding Group and the transfer of Millennium Funding Group employees. Millennium Funding Group originated over $1 billion in subprime mortgage loans in 2005, placing it among the 50 largest subprime mortgage lenders in the nation based on data published by National Mortgage News.
About Ace Mortgage Funding, LLC and Millennium Funding Group
Ace Mortgage Funding, LLC, headquartered in Indianapolis, Indiana, is a retail mortgage broker originating over $3 billion in residential mortgages with more than 700 brokers at 26 locations in 17 states. Ace Mortgage Funding, LLC, is a portfolio company of Roark Capital Group, a private equity firm that acquires majority positions in franchise, financial services, niche manufacturing, and service businesses.
Millennium Funding Group, based in Vancouver, Washington, is a national mortgage lender with over $1 billion in annual originations offering wholesale lending solutions to mortgage brokers and the secondary mortgage market. Millennium is dedicated to serving the broker community nationwide with specialized non-conforming and subprime products.