Celebrity Financial Announces Midwest Equity Mortgage Acquisition is Complete

Additional Celebrity Acquisitions To Be Announced

Midwest Equity Mortgage, LLC, (“MEM”) and Celebrity Financial, Inc., (“Celebrity”) a U.S. Virgin Islands-based diversified financial services holding company announced the closing of the transaction for an undisclosed amount in which Celebrity acquired a 100 percent stake in MEM. David Robnett, Chairman and CEO of Celebrity, Dave Hansen, Partner and co-founder at MEM and Pete Gabrione, Partner and co-founder at MEM, have each taken significant equity positions in Celebrity. Robnett will serve as MEM’s CEO, while Hansen will serve as MEM’s Chief Revenue Officer and Gabrione will serve as the Chief Operating Officer. Eric Meadow will step into the role of Company President.  

Also announced under a separate press release, JVM Lending is now part of the MEM Family as of Aug. 7, 2018. JVM Lending, led by Jay Voorhees and Heejin Kim, is a market leader in the Northern California lending market, funding in excess of $300 million annually. 

Robnett, who is currently on the road finalizing additional strategic acquisitions, commented on today’s announcement, “From the time we announced this acquisition, we’ve received significant interest and positive responses from our business partners and regulators. There’s also no doubt the industry, in general, is taking notice that there is something special going on over here that others want to be a part of. We’ll be announcing several additional growth initiatives soon.”

From the time we announced this acquisition, we've received significant interest and positive responses from our business partners and regulators. There's also no doubt the industry, in general, is taking notice that there is something special going on over here that others want to be a part of. We'll be announcing several additional growth initiatives soon.

David Robnett

CEO

Hansen and Gabrione released a joint statement, stating, “We are thrilled for our employees and the MEM brand that the company will continue to flourish into the future. We are excited to lead this venture along with the rest of Senior Management Team.”

Additional inquires can be directed to Eric Meadow at: eric@midwestequity.com

About Midwest Equity Mortgage, LLC

MEM is an independent mortgage lender which celebrated its 10th anniversary in April of 2017. Licensed in 15 states with multiple offices in the US, MEM originates and funds residential mortgage loans through three distinct business channels and under the DBA’s of Midwest Equity Mortgage, eClick Lending, Capital Financial Group, and JVM Lending.

About Celebrity Financial, Inc.

Celebrity is a duly organized, privately held diversified financial services holding company based out of the US Virgin Islands. Celebrity has holdings in mortgage lending, vendor services, and fintech. Additional inquiries related to Celebrity, its holdings and future opportunities can be directed to David Robnett, President at david@celebfinancial.com.

Source: Midwest Equity Mortgage


Categories: Mortgages and Loans

Tags: Acquisition, Banking, Chicago, Finance, M&A, Mortgage, Real Estate, San Francisco


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