Subjects: VET, CSR
Freedom Mortgage Wraps Up a Solid 2023
Despite another year of high interest rates, nationwide mortgage lender saw steady loan production and continued to expand its philanthropic efforts
BOCA RATON, Fla., Jan. 22, 2024 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies, and a top VA and top Federal Housing Administration (FHA) (government-insured) lender in the U.S., had a solid 2023, helping nearly 80,000 borrowers secure financing for their most important asset?their homes.
In addition to providing low down payment mortgages to first-time homebuyers and homeowners nationwide, including thousands of U.S. veterans, Freedom Mortgage was proud to service the mortgages of two million homeowners representing over $460 billion in loans. Last year, Freedom Mortgage helped over 50,000 borrowers successfully achieve a better financial position through loan modifications or partial claims.
Despite challenging market conditions, Freedom Mortgage was able to access the capital markets and raised approximately $1.3 billion to fund its corporate growth objectives. This financing was nearly three times over-subscribed, showcasing strong investment sentiment in the company's corporate strategy.
"The mortgage industry was impacted by high interest rates throughout last year, yet we grew our servicing portfolio and experienced another banner year giving back to local communities across the country," said Stanley C. Middleman, Freedom Mortgage president and CEO. "I'm proud of how our dedicated and compassionate employees worked together, not just when it came to helping our customers finance their dreams, but also for the tremendous impact they've made in their local communities."
Freedom Mortgage donated more than $660,000 last year through its philanthropic arm, Freedom Cares, and saw another year of high employee volunteer engagement with nearly 2,300 hours spent bettering local communities.
Middleman commended Freedom Mortgage employees for their generosity and dedication to supporting multiple charitable organizations throughout 2023, including programs for veterans, service members, and their families. Through Freedom Cares, the company operates the following annual campaigns:
- Holiday Toy Drive provides an opportunity for Freedom Mortgage employees to make monetary or physical toy donations for underserved youth to brighten the spirits of families during the holiday season. Last month, employees and Middleman raised $60,000 in support of Children's Hospital of Philadelphia (CHOP), The Salvation Army, and Toys for Tots.
- Rucksacks to Backpacks inspires employees to provide backpacks and school supplies to the children of active-duty military, National Guard members, and Reservists. In celebration of the 11th year of the program in 2023, Freedom Mortgage's employees and friends joined Middleman to raise $100,000 for several United Service Organizations (USO) Centers across the country just before the start of the new school year. Additionally, employees in a couple of locations donated 1,881 backpacks and school supplies.
- Feeding America® "Freedom From Hunger" fundraiser empowers employees to help people facing hunger in their communities. Freedom Mortgage employees and vendors donated (and Middleman made a matching donation) that brought the total amount raised to over $50,000, which provided over 500,000 meals for people facing hunger. Additionally, through donations from entries in the Freedom Mortgage Celebrate Freedom Award contest and employees' payroll deduction, over $30,000 was raised for Feeding America.
- Project Gratitude encourages Freedom Mortgage employees to submit handwritten and video messages of thanks for active-duty service members. Last year, employees recorded 1,045 messages of thanks which were shared with active-duty service members through USO Centers across the globe.
Last year, Freedom Mortgage renewed its multi-year pledge to support the Mortgage Bankers Association's Opens Doors Foundation, which provides housing grants to families with critically ill or injured children needing mortgage or rental payment assistance. The support enables Opens Doors to continue its partnership with the Children's Hospital of Philadelphia as well as 12 other children's hospitals across the country.
Click here (or visit https://share.vidyard.com/watch/TXnCz9P4zeTkyQHWK6uMKW) to see a recap of 2023 Freedom Cares efforts.
Freedom Cares also provides financial support to a number of additional charitable programs, including events recognizing Military Appreciation Month, Memorial Day, and a Freedom Mortgage coined "Veterans Month" in November. New this year, Freedom Mortgage engaged its customers and the general public in a social media donation campaign during Military Appreciation Month where every like, comment, or share resulted in a $10 donation from Freedom Mortgage to both Operation Gratitude and the USO. As a result, Freedom Mortgage donated $10,000 split between Operation Gratitude and the USO to support military programming and care packages for deployed service members.
"I'm so appreciative that our employees are so united in wanting to help and give back," Middleman said. "By empowering our employees to act locally, we've been able to make a tremendous difference across the country in the lives of our most vulnerable, particularly veterans and children."
One of the nation's largest independent mortgage companies, Freedom Mortgage is committed to fostering homeownership and financial betterment across the country. For more information on Freedom Mortgage's philanthropic programs visit www.teamfreedomcares.org
For more information about Freedom Mortgage visit FreedomMortgage.com.
About Freedom Mortgage
Founded in 1990 and headquartered in Boca Raton, Florida, Freedom Mortgage is an independent mortgage company that provides mortgage loans through retail, wholesale and correspondent channels. One of the nation's largest non-bank mortgage lenders and servicers, the company is licensed in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Freedom Mortgage is a top VA and FHA (government-insured) lender in the U.S. (Inside Mortgage Finance, January?June, 2023), and is one of the mortgage industry's largest philanthropic supporters of the USO of Pennsylvania and New Jersey. The company is also renowned for its vibrant work environment, where all team members can thrive. Earlier this year, Freedom Mortgage was honored, for the third year in a row, as a Top Workplaces USA. The company made it back on the Inc. 5000 Honor Roll, for the ninth time, as one of the fastest-growing private companies in the country. Freedom Mortgage's mission is to foster homeownership for all consumers across America. Freedom Mortgage, Lender NMLS ID: 2767. Equal Housing Opportunity. For more information, please visit FreedomMortgage.com.
FREEDOM MORTGAGE CONTACT:
Ellen Longo
609-678-0968
[email protected]
SOURCE Freedom Mortgage Corporation
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