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Envoy Mortgage to buy MasonMac distributed retail assets

The deal adds about 100 loan officers and is expected to close in late August, lifting Envoy to roughly 240 loan officers and a $4 billion annual funded-volume run rate.

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Envoy Mortgage is acquiring Mason-McDuffie Mortgage Corp, also known as MasonMac, distributed retail assets, bringing in about 100 loan officers who produced $1 billion over the past 12 months, HousingWire reports.

HousingWire says the transaction, announced internally on Monday, is expected to close toward the end of August. Envoy expects the combined business to run at an annual run rate north of $4 billion in funded volume, and to take its loan officer headcount to about 240.

HousingWire reports the deal follows MasonMac’s strategic realignment, with its distributed retail production teams joining Envoy. Envoy, the sister company of real estate platform PLACE, has leaned into a referral- and affiliate-based model and plans to maintain several MasonMac DBAs and team names.

HousingWire reports Envoy President Jesse Passafiume said layoffs are not expected, characterizing the move as driven by cultural alignment and MasonMac’s reputation in Western markets. MasonMac will retain a smaller footprint focused on portfolio retention and will hold roughly $250 million in mortgage servicing rights, according to the report.

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