Movement expands New England footprint with acquisition of Superior Rate Mortgage
BOSTON, MA — Movement Mortgage, the nation's sixth-largest retail mortgage lender, has expanded its New England market share with the acquisition of Superior Rate Mortgage of New England, LLC, based in North Andover, MA.
Superior Rate was founded in 2014 and grew to become the largest mortgage brokerage in New England, with a sales volume of $412 million in the past year. Superior Rate leader Matt Rasetta (NMLS #90621) joins Movement as a market leader, bringing with him the entire Superior Rate Mortgage staff of 48 to serve homebuyers and real estate agents in the Greater Boston area.
“I am thrilled to welcome Matt and the entire Superior Rate Mortgage team to our Movement family,” said New England regional director Ian Aubourg. “Matt brings infectious energy, a caring heart for the community, and a servant leadership perspective that aligns perfectly with the foundational elements of Movement. The entire SRM team has shown that same energy and an impressive commitment to excellence in their service and process. We look forward to many years of meteoric success with Matt and his passionate and talented loan officers, support staff and leaders.”
“Movement Mortgage offers us the opportunity to partner with a company that provides a breadth of loan options that aren't available in the broker community,” said Rasetta. “The competitive products and pricing, plus unparalleled operational speed and support, were key components of our attraction to Movement. The opportunity to join a company that shares our values made this a clear and easy choice,” he added. "Movement's commitment to philanthropy and servant leadership is truly unique and we are so excited to be a part of it!"
Prior to the addition of Superior Rate Mortgage, Movement's New England region employed 200 individuals and produced an annual volume of roughly $1.6 billion. Movement's regional presence was first established in Rhode Island, where Movement has been the number one purchase lender for the past three years (per The Warren Group). Movement has shown a similar trajectory throughout New England with consistent year-over-year growth in each state for the past five consecutive years. The Warren Group data shows Movement Mortgage as one of the fastest growing mortgage companies in the area, and purchase market share has grown even more significantly than overall volume.
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About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 5,000 people, has more than 650 branches in the U.S. and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement's profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities and global outreach. For more information, visit www.movement.com.
