“With the average American home now over 40 years old and inventory falling short of long-term demand, the need for construction lending expertise has never been greater,” AnnieMac CEO Joe Panebianco said in a statement. “Having an experienced, in-house construction lending team is more relevant than ever in the IMB space.”
HSL is a small lender, originating about $125 million in loans over the past 12 months, according to mortgage tech platform Modex. As of Tuesday, the company had five loan officers and no branch locations. It holds licenses in Florida and South Carolina.
By comparison, New Jersey-based AnnieMac originated approximately $2.8 billion in loans over the past year, with 450 producing LOs across 77 branches, per Modex data.
In Florida, AnnieMac also recently acquired certain assets of Florida Funding, with employees transitioning to its OVM Division. Earlier this year, AnnieMac partnered with Unify Home Lending to bolster operations in Montana and expand its footprint across North Dakota, South Dakota and Wyoming.
