Full-service mortgage lender Fairway Independent Mortgage Corporation has announced that it has agreed in principle to an asset sale with Hallmark Home Mortgage. Significant assets of Indiana-based Hallmark, licensed in 20 states, will become part of Fairway, the nation’s second-largest retail mortgage lender. Hallmark Home Mortgage, Powered by Fairway, will become a new division of Fairway.
Fairway CEO and Founder Steve Jacobson will remain CEO of Fairway, and Hallmark CEO and Founder Deborah Sturges will join Fairway with the title of President, Hallmark Home Mortgage.
“Deborah and I worked together at Waterfield decades ago and have remained industry acquaintances ever since,” said Jacobson. “Our shared values, and our trust in each other make this partnership a natural fit. Our shared vision will make us even stronger together.”
Jacobson called the acquisition of Hallmark a win for both companies.
“This strategic decision brings Fairway’s expanded product portfolio, enhanced technology, and deep support resources into Hallmark’s orbit,” said Sturges. “To reconnect with my former colleague Steve Jacobson is truly exciting. This partnership puts both companies in the best position to grow, innovate, and lead.”
