Movement Mortgage said Wednesday it has agreed to acquire a division of homebuilding giant Lennar Corporation, the first acquisition by the fast-expanding Indian Land, S.C., company.
According to published reports, Movement plans to buy the retail mortgage operations of Eagle Home Mortgage, a subsidiary of Florida-based Lennar, in a deal projected to close this month.
Wednesday’s acquisition is expected to give Movement an additional 230 employees. Wednesday’s purchase, whose price was not disclosed, is projected to increase Movement’s annual mortgage loan volume by $1.5 billion, the company said.
Once the deal closes, Movement will have more than 4,000 employees in 49 states, including about 800 currently in the Charlotte metro area.