LenderMAC Forms Strategic Partnership with Ares for Growth
LenderMAC Forms Strategic Partnership with Ares
Bridgeway Lending Partners LLC, known as LenderMAC, has announced a significant alliance with Ares Alternative Credit funds. This collaboration entails a structured debt investment that will enable Ares to acquire a substantial portion of LenderMAC's Non-QM production. The arrangement is aimed at not only providing strategic capital for LenderMAC's origination and growth but also enhancing its capabilities as a leading provider of mortgage solutions.
CEO Kenny Jo on Collaboration
Kenny Jo, the Owner and CEO of LenderMAC, expressed his enthusiasm about this partnership, stating, "At LenderMAC, we strive to offer the most efficient mortgage products available. Our collaboration with Ares empowers us to broaden our product range and expand our customer base while meticulously managing costs for homeowners." This collaboration symbolizes LenderMAC's rapid growth and evolving presence in the mortgage industry.
Growth Trajectory and Milestones
Founded in 2021, LenderMAC has made remarkable strides since it was acquired in May. With a focus on diversifying its offerings, the Company has successfully established a fully operational wholesale channel and expanded its lending services across over 20 states. Notably, LenderMAC has surpassed $100 million in funded loans, demonstrating its commitment to serving its customers effectively.
Technological Advancements
A notable aspect of LenderMAC’s growth strategy involves refining its AI platform. The enhancements, including a bank statement analyzer and other AI-driven tools, are designed to streamline the loan process and improve operational efficiency. This technology not only optimizes LenderMAC's services but also ultimately benefits customers in their mortgage experiences.
Ares Management's Role
Michael Flynn, Managing Director at Ares Alternative Credit, shared his excitement regarding the partnership: "Having collaborated with Kenny for years, seeing LenderMAC's capturing of market share is thrilling. We look forward to working closely with the management team at LenderMAC, leveraging emerging opportunities together." This partnership stands to benefit both organizations as they navigate the expansive landscape of the mortgage industry.
About LenderMAC and Ares
Bridgeway Lending Partners LLC operates as LenderMAC, a privately held mortgage company located in Cypress, California. As a full-service mortgage bank, LenderMAC specializes in a diverse array of mortgage products tailored to meet the changing demands of the market. The Company is dedicated to fostering growth and delivering value through innovative lending solutions that cater to wholesale lenders and other partners.
Industry Impact and Future Outlook
Ares Management Corporation, a global alternative investment manager, plays a pivotal role in advancing stakeholders' objectives across various asset classes. Their commitment to providing flexible capital to support business growth aligns perfectly with LenderMAC’s goals. With a shared vision of enhancing market presence and creating value, the future looks bright for LenderMAC amidst its promising trajectory within the mortgage sector.
Frequently Asked Questions
What is the main goal of the partnership between LenderMAC and Ares?
The main goal is to enhance LenderMAC's origination and growth capabilities by providing strategic capital and enabling Ares to purchase a significant portion of its Non-QM production.
Who is the CEO of LenderMAC?
Kenny Jo serves as the Owner and CEO of LenderMAC, leading the company's initiatives and strategies.
When was LenderMAC founded?
LenderMAC was established in 2021 and has since achieved significant growth, including establishing operational channels across various states.
What technological advancements has LenderMAC implemented?
LenderMAC has refined its AI platform, including a bank statement analyzer, to enhance operational efficiency and streamline the mortgage process.
What market segments does LenderMAC focus on?
LenderMAC specializes in a diversified portfolio of mortgage products catering to wholesale lenders, non-delegated correspondents, and correspondent partners.
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