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February 13, 2016 1:54 AM ET

Thrifts and Mortgage Finance

Company Overview of Freedom Mortgage Corporation

Company Overview

Freedom Mortgage Corporation, doing business as Jefferson Home Mortgage and Loan, LLC, offers residential mortgage lender services in the United States. The company engages in originating, processing, funding, and servicing loans. It offers purchase and refinance loans, low adjustable and fixed-rate mortgages, and home renovation loans and USDA loans; residential loans for primary properties, secondary homes, and investment properties; and VA, FHA, and conventional loans. Freedom Mortgage Corporation was founded in 1990 and is headquartered in Mount Laurel, New Jersey with an additional office in Fishers, Indiana.

907 Pleasant Valley Avenue

Suite 3

Mount Laurel, NJ 08054

United States

Founded in 1990

Phone:

866-759-8624

Fax:

866-931-6883

Key Executives for Freedom Mortgage Corporation

Chief Executive Officer
Age: 61
President of Correspondent Lending Division
National Sales Director of Correspondent Lending
Regional Sales Director of the Midwest
Regional Sales Director of the Southwest and South Central Areas
Compensation as of Fiscal Year 2015.

Freedom Mortgage Corporation Key Developments

Freedom Mortgage Corporation to Pay $104,000 to Settle Allegations U.S. Department of Housing and Urban Development

The U.S. Department of Housing and Urban Development announced that Freedom Mortgage Corporation will pay $104,000 to settle allegations that it discriminated against loan applicants with disabilities by requiring them to provide medical or other documentation regarding their disability. The Fair Housing Act makes it unlawful to discriminate in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, family status, or disability. This includes requiring persons with disabilities to provide medical or other documentation not required of mortgage applicants who are not disabled. The agreement settles a HUD Secretary Initiated Complaint filed in 2013, alleging that Freedom Mortgages underwriting policies and practices subjected persons with disabilities to different terms and conditions from other applicants by requiring, among other things, that they provide doctors notes or letters from the Social Security Administration that their disability income would continue for three years. Freedom and HUD identified 69 applicants with disabilities subjected to such terms and conditions. In one case, a loan applicant provided medical documentation of his disability, a Department of Labor Work Capacity Evaluation form, and a benefits statement showing regular disability payments since 2009. Nonetheless, Freedom Mortgage allegedly continued to request proof that the income would continue for at least three years. Under the terms of the agreement, Freedom will establish a three-tiered system of relief for the 69 aggrieved applicants. Under the tiered system, they will each receive $1,000, $2,000, or $5,000 in damages. In addition, Freedom will amend its underwriting guidelines to abolish disability-related income verification requirements for applicants who receive disability income, and require employees to attend training on the Fair Housing Act.

Similar Private Companies By Industry

Company Name Region
Paramount Lending, Inc. United States
A1A Mortgage, LLC United States
IFX Ltd. United States
RoundPoint Financial Group, Inc. United States
Standard Mortgage Corporation of Georgia United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 29, 2015
First Mortgage Corporation
 

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