i3 Lending Acquires Sentrix Financial Services
Expands its wholesale channel and increases penetration in key markets
August 31, 2015 – i3 Lending, a privately held mortgage lender licensed in 14 states, announces it has acquired the assets of Sentrix Financial Services, a mortgage broker with 22 branch offices and 89 loan originators operating in multiple states mainly along the east coast of the U.S.
Predominantly known for consumer direct lending, i3 Lending has steadily grown since its inception in 2013. The acquisition of Sentrix represents an important step in its growth plan, as it increases its presence in key markets and will certainly increase its volume as well. The company expects to fund approximately $800 million in loan volume over the next 12 months.
When questioned as to his opinions of the mortgage business, Chairman Sujay Kanth is bullish as it relates to i3’s business model saying, “we have witnessed a long downturn in the market and now the revival is being led by strong companies that can offer great services at reduced costs. With Sentrix, an opportunity exists to integrate its platform and talent with I3’s technology and service driven business model and maximize its ROI."
Kurt Seidel, Sr. Vice President at Sentrix says, "Sentrix's loan originators and processors have always focused on the customer experience. Now with access to great rates, exceptional technology and substantial back office support, the combined organization will be stronger than ever, to the ultimate benefit of both consumers and our company."
“Sentrix is very customer driven and its model compliments i3's model perfectly. As we continue to expand both our Wholesale and Correspondent channels, we look ahead to becoming a Top 50 lender in the not so distant future," says Anthony Gioia, the company President.
About i3 Lending, NMLS #1020884
As a front runner in the financial industry, i3 Lending is a leading provider of mortgage services. With a large network of lenders and exceptional technology, i3 offers its customers the most competitive rates on the market, a strong selection of loan programs and a high level of service from top to bottom. Founded in 2013, the company is licensed in 14 states and plans to be nationwide and FHA approved in the near future. Visit www.i3lending.com for more information.
About Sentrix Financial Services, NMLS #184149
Sentrix is a mortgage lender, licensed in 17 states, with branch offices in multiple states. Its focus on customer service has been the driver of their growth since its inception.