CrossCountry Mortgage secures $400m loan facility
Summary
“As CrossCountry Mortgage continues to execute its organic and inorganic growth strategy, we believe the company is well-positioned to benefit from its favorable purchase-focused origination volumes, a scaled retail platform, attractive industry demographics and supply tailwinds, and strong free cash flow dynamics,” said Kevin Alexander, a partner in Ares’ Credit Group. “We look forward to working with the Company’s management team to capitalize on the significant opportunities ahead.” Read next: CrossCountry Mortgage brings two mortgage pros into fold Global investment group Caisse de dépôt et placement du Québec (CDPQ) also participated in the financing through a wholly-owned subsidiary as part of its Capital Solutions investment strategy. “As one of the fastest-growing nonbank originators and servicers of residential mortgages, CrossCountry Mortgage is well-positioned to continue its trajectory in American housing,” said Martin Laguerre, head of private equity and capital solutions at CDPQ.