Who owns cross country mortgage?

Introduction

Cross Country Mortgage is a well-known mortgage lender in the United States. It provides a wide range of mortgage products and services to borrowers across the country. However, when it comes to determining who owns Cross Country Mortgage, the answer is not as straightforward as one might expect.

The Founding and Growth of Cross Country Mortgage

Cross Country Mortgage was founded in 2003 by Ronald J. Leonhardt Jr. and later joined by his brother, William P. Leonhardt. The company started as a small mortgage brokerage firm in Brecksville, Ohio. Over the years, Cross Country Mortgage has experienced significant growth and expansion, becoming one of the largest mortgage lenders in the country.

Private Ownership

Cross Country Mortgage is privately owned, which means it is not a publicly traded company. This means that the ownership of the company is not easily accessible to the public. The founders, Ronald J. Leonhardt Jr. and William P. Leonhardt, are believed to be the primary owners of the company. However, the exact ownership structure and distribution of shares within the company are not publicly disclosed.

Investors and Partnerships

While the primary ownership of Cross Country Mortgage is not publicly known, the company has formed partnerships and attracted investments from various entities. In 2017, Cross Country Mortgage announced a strategic partnership with private equity firm, Capital Partners, which provided growth capital to support the company’s expansion plans.

Additionally, in 2020, Cross Country Mortgage secured a significant investment from private equity firm, Blackstone. This investment was aimed at further fueling the company’s growth and enhancing its technology capabilities.

Expansion and Acquisitions

Cross Country Mortgage has expanded its operations through acquisitions of other mortgage companies. In 2019, the company acquired the assets of PERL Mortgage, a Chicago-based mortgage lender. This acquisition allowed Cross Country Mortgage to expand its presence in the Midwest region.

Furthermore, in 2020, Cross Country Mortgage acquired the assets of New York-based mortgage lender, Ready Mortgage Corporation. This acquisition helped the company establish a stronger presence in the Northeastern region of the United States.

Conclusion

While the exact ownership of Cross Country Mortgage is not publicly disclosed, it is known to be a privately owned company founded by Ronald J. Leonhardt Jr. and William P. Leonhardt. The company has attracted investments from private equity firms like Capital Partners and Blackstone, which have supported its growth and expansion. Cross Country Mortgage has also expanded through strategic acquisitions of other mortgage companies, further strengthening its position in the market.