The Long & Foster Companies, parent company of the largest independent residential real estate company in the United States, announced today that its former joint venture Prosperity Mortgage Company was ranked 28th in the nation by Mortgage Executive Magazine. The publication spotlights the country’s leading lenders in its annual list of Top 100 Mortgage Companies in America for 2013.
Originally formed as a joint venture between Long & Foster and Wells Fargo Ventures, Prosperity Mortgage Company funded $2.8 billion in volume and more than 9,300 loans in 2013. Long & Foster and Wells Fargo decided to close the joint venture at the end of 2013, and Long & Foster now operates its own full service mortgage banker, Prosperity Home Mortgage, LLC, across the Mid-Atlantic and Northeast. Prosperity Home Mortgage is represented by more than 140 mortgage consultants, many of whom came to the company from Prosperity Mortgage Company.
“This is a significant accomplishment and we’re proud to have once again been recognized by Mortgage Executive Magazine,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies. “These rankings show the commitment and focus placed on supporting Long & Foster, its agents and their clients, and it’s clear that Prosperity Home Mortgage consultants will continue to be dedicated to providing personalized, focused service to each and every Long & Foster customer.”
Tim Wilson, CEO of Prosperity Home Mortgage and president of Long & Foster’s Affiliated Businesses, shared Detwiler’s sentiments.
“This honor recognizes the value of the wealth of knowledge, integrity and professionalism our team of experts have in support of Long & Foster’s mission to deliver buyers and sellers the total homeownership experience, including making available affordable and quality financing for one of the largest purchases of someone’s lifetime,” Wilson said. “We’re fortunate at Prosperity Home Mortgage to have welcomed many of the professionals from Prosperity Mortgage Company to our team, and with their dedication and hard work, I’m confident we’ll earn similar recognition at Prosperity Home Mortgage in the coming years.”