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Mason Mac to sell production group to Place/Envoy Mortgage

The deal is a private transaction, with Mason Mac in discussions to acquire its corporate shell and agency approvals via a separate buyer group.

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Mortgage News Daily reports that Mason Mac has entered an agreement to sell its Production Group to Place/Envoy Mortgage, with the companies announcing the transaction to employees.

The outlet says the sale is being handled as a private transaction without a transaction advisor, and that Mason Mac used Weiner Brodsky Kider for legal support.

Mortgage News Daily adds that Mason Mac is also in talks with a separate group to buy its corporate shell and agency approvals, though it is not yet clear whether any mortgage servicing rights decisions will track with the production team or the shell buyer.

The outlet further notes that Chuck Iverson plans to stay on to help Mukesh wind down the business, with Iverson taking an active role for a year or two under a TSA agreement to support employee transfer and integration into the new company.

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