Faith Morrow
Freedom Mortgage is a full-service mortgage company that was founded in 1990 and is headquartered in Boca Raton, Florida. It is one of the largest mortgage companies in the US, providing mortgage loans through retail, wholesale, and correspondent channels. The company is licensed to operate in all 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands. Freedom Mortgage is also known for its vibrant and inclusive work environment, where employee engagement and recognition programs are prioritized. The company fosters homeownership for all consumers across America, including first-time homebuyers and US veterans.
| Characteristics | Values |
|---|---|
| Year founded | 1990 |
| Headquarters | Boca Raton, Florida |
| Founder and CEO | Stanley C. Middleman |
| No. of borrowers in 2021 | 1.9 million |
| No. of borrowers in 2023 | 2 million |
| Loan volume in 2021 | $131 billion |
| Loan volume in 2023 | $460 billion |
| No. of borrowers aided in 2023 | 80,000 |
| No. of borrowers aided through loan modifications or partial claims in 2023 | 50,000 |
| No. of closed loans in March 2021 | 71,000 |
| No. of US states licensed | 50 |
| Other licensed regions | District of Columbia, Puerto Rico, U.S. Virgin Islands |
| Top lender type | VA, FHA (government-insured) |
| Parent company | Freedom Mortgage Corporation |
| Subsidiary | RoundPoint Mortgage |
| Workplace awards | Newsweek's Most Loved Workplaces, Top Workplaces USA, Inc. 5000 Honor Roll |
What You'll Learn
Freedom Mortgage's philanthropic efforts
Freedom Mortgage is one of the largest full-service mortgage companies in the US. It is also the top VA and FHA (government-insured) lender in the country. The company was founded in 1990 and is headquartered in Boca Raton, Florida. It is licensed to operate in all 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands.
Freedom Mortgage has a strong focus on philanthropy and community support. In 2013, the company established Team Freedom Cares as its charitable arm to support national and local philanthropic activities and benefit the communities in which the company operates. Team Freedom Cares encourages employees to take action for the betterment of their communities and provides information on activities that benefit local communities and military personnel, both active and veteran.
The philanthropic efforts of Freedom Mortgage include supporting various charities and nonprofit organizations. The company has raised funds for Feeding America, a local nonprofit organization working to end hunger through a network of community-based agencies. In one instance, Freedom Mortgage employees and friends raised $281,299 for Feeding America. The company also hosts an annual food drive for the organization and collects thousands of pounds of food for local food banks. Freedom Mortgage has also supported the American Red Cross by holding blood drives and collecting donations for individuals affected by natural disasters.
Additionally, Freedom Mortgage has a strong commitment to supporting military families and veterans. The company is one of the mortgage industry's largest philanthropic supporters of the USO and military families. They have donated to USO Centers across the country and provided support to local food banks, children of military families, and veterans. Freedom Mortgage also sponsors the construction of homes for veterans through Habitat for Humanity and has partnered with the MBA Opens Doors Foundation.
Freedom Mortgage encourages its employees to get involved in philanthropic initiatives and offers paid volunteer time. The company's vibrant work environment and culture of giving back have been recognized through various awards, including being named one of Newsweek's Most Loved Workplaces and a Top Workplaces USA company.
The company's growth and success in 2021
Freedom Mortgage, a full-service mortgage company, had a successful year in 2021. The company, which was founded in 1990, is headquartered in Mount Laurel, New Jersey, and has been on an aggressive growth trajectory.
In 2021, Freedom Mortgage continued to be one of the largest mortgage providers in the United States, licensed to operate in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The company's servicing business grew to nearly 1.9 million borrowers across the country, an increase from 1.6 million in 2020. This growth resulted in a total origination volume of over $131 billion, with a record-breaking month in March, where they closed nearly 71,000 loans, totaling $19 billion in volume.
The company's success in 2021 can be attributed to its focus on customer service and employee satisfaction. Freedom Mortgage was named one of Newsweek's Most Loved Workplaces and a Top Workplace USA in 2021. The company's vibrant and diverse work environment encourages employee engagement and community involvement. Its employees rallied together to volunteer and fundraise for various causes, including local food banks, children of military families, and veterans.
Freedom Mortgage's commitment to fostering homeownership and providing world-class service to its clients has been recognized through its ranking as one of the fastest-growing companies in the Inc. 5000 list for six consecutive years, including 2021. The company's impressive growth rate and revenue have solidified its position as a leader in the mortgage industry, particularly in government-insured lending.
Freedom Mortgage's workplace culture
Freedom Mortgage is a full-service mortgage company that was founded in 1990 and is headquartered in Boca Raton, Florida. It is one of the largest mortgage companies in the US, with 2,174 employees and an annual revenue of $1 billion. The company is committed to fostering homeownership for all consumers across America and is one of the mortgage industry's largest philanthropic supporters.
The company has a vibrant and inclusive workplace culture that celebrates diversity and uniqueness. It is committed to the continual growth of a diverse workforce that reflects the communities it serves. The staff at Freedom Mortgage come from diverse demographic backgrounds, with 58.3% female employees and 36.6% ethnic minorities. The company also has a politically diverse group of employees, with 48.6% Democrats and 51.4% Republicans. Despite these differences, Freedom Mortgage employees are generally happy, with the company receiving high ratings for its positive environment, work culture, and executive team.
The company has great employee retention, with staff members usually staying for 3.4 years. The average salary at Freedom Mortgage is $49,768 per year, with employees in the top 10% earning over $91,000 and those in the bottom 10% earning less than $26,000. The company offers excellent benefits, including medical, dental, vision, and 401(k). It also provides a vision buy-up plan that covers a portion of eye exams, frames, lenses, and contact lenses.
The workplace culture at Freedom Mortgage is characterised by hard work, determination to succeed, family values, and a genuine care for customers. The company values its employees and rewards and celebrates their hard work, skills, and efforts. It encourages curiosity, passion for learning, and a willingness to discover and grow. The pace of work is described as "comfortably fast" by most employees, with 49% working 8 hours or less and 17% working more than 12 hours a day. The company's executive team is rated as "B" and is led by CEO and founder Stan Middleman.
The company's mission and values
Freedom Mortgage is a family-founded and operated mortgage company that was founded in 1990 and is headquartered in Boca Raton, Florida. It is one of the largest full-service mortgage companies and the top Veterans Administration (VA) and Federal Housing Administration (FHA) lender in the US. Freedom Mortgage is also the #1 VA and #1 FHA (government-insured) lender in the U.S. and one of the mortgage industry's largest philanthropic supporters of the USO of Pennsylvania and Southern New Jersey.
Freedom Mortgage's mission is to foster homeownership for all consumers across America. The company believes that homeownership is a path to financial freedom. It helps millions of Americans, including first-time homebuyers, U.S. veterans, and service members, buy and refinance their homes. Freedom Mortgage is committed to expanding homeownership and making the process of buying a home easy and exciting. The company provides low down payment mortgages and helps customers find the right solutions for their unique situations.
The company's values include a dedication to its customers and a commitment to diversity and inclusion. Freedom Mortgage strives to create a vibrant and thriving work environment for its employees, with employee engagement and recognition programs, ongoing learning opportunities, and company-wide philanthropic campaigns. It is consistently recognized as a Top Workplace in the U.S. and has made the Inc. 5000 Honor Roll multiple times as one of the fastest-growing private companies in the country.
In addition to its business activities, Freedom Mortgage is known for its strong commitment to giving back to the communities it serves. The company supports various national and local charities, including organizations that support the military, such as the USO and Homes for Our Troops, and those that address housing challenges, such as Habitat for Humanity and the MBA Opens Doors Foundation. Freedom Mortgage's employees actively participate in fundraising and volunteer initiatives, such as the Holiday Toy Drive and the Rucksacks to Backpacks program, which supports children from military families.
Freedom Mortgage's customer experience
Freedom Mortgage is one of the largest full-service mortgage companies in the US, providing mortgage loans through retail, wholesale, and correspondent channels. The company is headquartered in Boca Raton, Florida, and is licensed to operate in all 50 states, as well as the District of Columbia, Puerto Rico, and the US Virgin Islands.
As a top mortgage lender and servicer, Freedom Mortgage offers a range of services to its customers, including mortgage loans for primary homes, second homes, and investment properties. The company also provides refinancing options, such as fixed-rate mortgages and FHA loans, which are insured by the Federal Housing Administration and offer smaller down payments. Freedom Mortgage's website offers free mortgage calculators to help customers estimate the prices of homes they can afford and the monthly payments associated with them.
In 2021, Freedom Mortgage and its subsidiary, RoundPoint Mortgage, serviced nearly 1.9 million homeowners across the country, with a servicing portfolio of nearly $400 billion in loans. The company was recognised as one of Newsweek's 2021 Most Loved Workplaces, a list that ranks companies based on employee happiness and satisfaction.
Customer reviews of Freedom Mortgage's services are mixed. Some customers have voluntarily submitted positive reviews, praising the company for its exceptional mortgages and service. However, other reviews highlight challenges with the company's customer service, including long wait times and rude supervisors.
Freedom Mortgage provides multiple contact options for customers seeking assistance, including phone numbers, mailing addresses, and online forms. The company encourages customers facing difficulties in making mortgage payments to reach out as soon as possible to explore potential assistance programs and solutions.
Frequently asked questions
Freedom Mortgage is one of the largest full-service mortgage companies in the US. It is the top VA and FHA (government-insured) lender in the country.
Freedom Mortgage helps millions of Americans buy and refinance their homes. In 2021, the company provided mortgages to nearly 500,000 consumers and families across the country, totalling over $131 billion in origination volume. In 2023, the company helped nearly 80,000 borrowers secure financing for their homes.
Freedom Mortgage does not publicly disclose its number of employees. However, it is consistently recognised as a Top Workplace in the US, with a vibrant work environment where all team members can thrive.
Freedom Mortgage is headquartered in Boca Raton, Florida, and is licensed to operate in all 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands.
Freedom Mortgage's mission is to foster homeownership for all consumers across America. The company believes that homeownership is a path to financial freedom and is committed to expanding homeownership, particularly among first-time homebuyers and US veterans and service members.
