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Slide #10. Universal American Mortgage Company — Certain Assets of Pinnacle Mortgage Group, Inc.
Universal American Mortgage Company (NYSE:LEN)
Certain Assets of Pinnacle Mortgage Group, Inc.
Universal American Mortgage Company (UAMC), the mortgage banking subsidiary of Lennar Corporation (NYSE: LEN & LEN.B), one of the nation's largest homebuilders and a member of the S&P 500, announced today that it has acquired certain assets of Pinnacle Mortgage Group, Inc. (Pinnacle). The STRATMOR Group served as the exclusive advisor to UAMC and initiated this transaction.
Lennar is a homebuilder in the United States, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. Co.'s homebuilding operations include the construction and sale of single-family attached and detached homes as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. Co. operates under the Lennar brand name. Co. creates and participates in joint ventures that acquire and develop land for its homebuilding operations, for sale to third parties or for use in the ventures' own homebuilding operations.
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