CrossCountry Mortgage
American nonbank retail mortgage lender
From Wikipedia, the free encyclopedia
CrossCountry Mortgage (CCM) is a privately owned nonbank retail mortgage lender headquartered in Cleveland, Ohio.[1] It is among the largest retail mortgage lenders in the United States by loan volume.[2][3]
 | |
| Type | Private |
|---|---|
| Industry | Mortgage lending Financial services |
| Founded | 2003 |
| Founder | Ron Leonhardt |
| Headquarters | , |
Area served | United States |
| Key people | Ron Leonhardt (CEO) |
| Products | Residential mortgage loans |
| Services | Loan origination, servicing, non-QM investments |
| Subsidiaries | Valere Financial CrossCountry Capital RoundPoint Mortgage Servicing LLC |
| Website | ccm |
History
CrossCountry Mortgage was founded in Cleveland in 2003 by Ron Leonhardt as a mortgage brokerage.[4] In 2012, it became an approved seller and servicer for Fannie Mae, Freddie Mac, and Ginnie Mae and expanded its offerings to include conventional, jumbo, FHA, VA, and USDA loans.[5]
CCM expanded through several acquisitions beginning in the late 2010s. In October 2018, Chicago-based bemortgage, a division of Bridgeview Bank Group, became a division of CCM.[6] In March 2019, it acquired Chicago-based PERL Mortgage, which operated 60 branches in 18 states.[7] Later that year, it acquired GMH Mortgage.[8]
In May 2020, CCM acquired the assets of First Choice Loan Services, a New Jersey-based residential mortgage lender that operated the mortgage program for Costco members.[8][9] Costco discontinued the program in 2022.[10]
In January 2021, the Ohio Tax Credit Authority approved an eight-year job-creation tax credit connected to CCM's planned relocation from Brecksville to Cleveland.[11] The company broke ground in June 2021 on a $46 million, 168,000-square-foot corporate campus in Cleveland's Superior Arts District.[12][13]
In July 2021, CCM entered a long-term partnership with the Cleveland Browns that included naming rights to the team's training and administrative complex in Berea, renamed the CrossCountry Mortgage Campus.[4][14]
In November 2021, funds managed by Ares Management and the Caisse de dépôt et placement du Québec led a $400 million loan facility for CCM.[15] In April 2022, it acquired LendUS, an Alamo, California-based retail lender that had originated approximately $7 billion in loans during 2021 through about 350 loan officers and 100 branches.[16] Later in 2022, CrossCountry acquired the retail lending business of Atlanta-based Angel Oak Home Loans.[17][18]
In January 2024, CCM completed its acquisition of AmCap Home Loans, a privately held retail lender headquartered in Houston and expanded its presence in Texas.[19]
In September 2025, CrossCountry HoldCo expanded its asset-management arm, CrossCountry Capital, through partnerships with an Ares Alternative Credit fund and Hildene Capital Management. The partnerships secured more than $1 billion in equity commitments for additional non-qualified mortgage investments.[20]
In March 2026, CCM agreed to acquire Summit Funding, a Sacramento-based mortgage banker and servicer founded in 1995.[21][22] Later that month, it entered a definitive agreement to acquire Two Harbors Investment Corp., a real estate investment trust whose subsidiary, RoundPoint Mortgage Servicing, is a major servicer of conventional mortgages.[23][24] Two Harbors shareholders approved the merger in July 2026.[25]
CCM is also the sponsor of CrossCountry Mortgage Forest Home, which is expected to open in 2026.[26]
Operations
CrossCountry Mortgage is licensed in all 50 states, the District of Columbia, and Puerto Rico and operates more than 1,000 branches. It is a direct lender and an approved seller and servicer for Fannie Mae, Freddie Mac, and Ginnie Mae.[5] Its third-party origination and mortgage investment division operates under the Valere Financial name.[27]
CrossCountry Capital, established in 2022, operates a non-agency securitization platform under the CROSS shelf and manages more than $7 billion in loans in partnership with Hildene Capital Management.[27]