PLANO, Texas, June 12, 2018 (GLOBE NEWSWIRE) -- Publicly traded diversified homebuilding and land development company, Green Brick Partners, Inc. (Nasdaq:GRBK) is excited to announce a newly developed affiliated business arrangement with PrimeLending (NMLS 13649).
This prestigious partnership has formed new residential mortgage lender, Green Brick Mortgage, LLC. The company plans to begin offering home loan solutions in the DFW metroplex in early fall 2018, and will begin servicing other markets in the fourth quarter of 2018.
“Green Brick Mortgage will allow us to expand our financial services platform with a very experienced partner and provide our homebuyers a seamless home buying experience from purchase contract, to loan approval, to closing with our 100% owned Green Brick Title subsidiary,” said Jim Brickman, CEO of Green Brick Partners.
Green Brick Mortgage will offer an extensive range of home loan options and is excited to help aspiring homebuyers achieve their homeownership goals.
Recruiting for leadership, loan origination, and operations staff positions for this new PrimeLending affiliate is currently in progress.
“We’re thrilled about our new relationship with Green Brick Partners. Their collective strength, reputation, home building prowess and dedication to serving their community displays just how impressive they are as a builder, award-winning developer, and business partner,” said Mike Matthews, Senior Vice President of Joint Venture Sales and Support at PrimeLending. “Backed by our powerhouse team at PrimeLending, Green Brick Mortgage has a solid foundation and the building blocks for success.”
For more information about Green Brick Mortgage, please contact Mike Matthews at 972-852-8238 or mmatthews@primelending.com.
About Green Brick Mortgage, LLC
Green Brick Mortgage offers a comprehensive range of home loan solutions in the Dallas-Fort Worth metroplex. PrimeLending Ventures Management, LLC, owns a 51% interest in Green Brick Mortgage, LLC, and a 49% minority interest is owned by GRBKMP, LLC, an affiliate of Green Brick Partners, Inc. PrimeLending Ventures Management, LLC is a wholly owned subsidiary of PrimeLending, a PlainsCapital Company (NMLS: 13649) Green Brick Mortgage is a member of the Hilltop Holdings Inc. (NYSE:HTH) family of companies. Equal Housing Lender.
About Green Brick Partners, Inc.
Green Brick Partners, Inc. (NASDAQ:GRBK) is a diversified homebuilding and land development company. The Company acquires and develops land, provides land and construction financing to its controlled builders and participates in the profits of its controlled builders. Green Brick owns a controlling interest in four homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes (a division of CB JENI Homes), Southgate Homes, and Centre Living Homes), as well as a homebuilder in Atlanta, Georgia (The Providence Group) and a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing and sales and the creation of brand images at our residential neighborhoods and master planned communities. For more information about Green Brick Partners Inc.'s homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
About PrimeLending
PrimeLending, a Dallas-based residential mortgage originator with locations in 41 states, has listed in the top 10 for four consecutive years as a top mortgage lender in the nation in purchase units. PrimeLending is licensed to originate and close loans in all 50 states. Founded in 1986, PrimeLending is a member of the PlainsCapital Corporation family of companies. PlainsCapital is a wholly owned subsidiary of Hilltop Holdings (NYSE:HTH). Find more information at www.primelending.com. Equal Housing Lender.
Forward-Looking Statements
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “outlook,” “strategy,” “positioned,” “intends,” “plans,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. These statements are based on assumptions that Green Brick has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Accordingly, all such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; demand for real estate investments in the geographic markets in which we operate; our ability to successfully manage and integrate acquisitions; significant inflation or deflation; labor and raw material shortages; the failure to recruit, retain and develop highly skilled and competent employees; an inability to acquire land suitable for residential homebuilding at reasonable prices; an inability to develop and sell communities successfully or within expected timeframes; risks related to regulatory approvals and government regulation; the interpretation of or changes to tax, labor and environmental laws and regulations; volatility of mortgage interest rates; the unavailability of mortgage financing; the occurrence of severe weather or natural disasters; risks related to future growth through strategic investments, joint ventures, partnerships and/or acquisitions; the inability to obtain suitable bonding for the development of housing projects; difficulty in obtaining sufficient capital; the occurrence of a major health and safety incident; poor relations with the residents of our communities; information technology failures and data security breaches; product liability claims, litigation and warranty claims; our debt and related service obligations; required accounting changes; an inability to maintain effective internal control over financial reporting; and other risks and uncertainties inherent in our business. Additional factors that could cause actual results to differ from those anticipated are discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's annual and quarterly reports filed with the Securities and Exchange Commission. Because the factors referred to above could cause actual results or outcomes to differ materially from those expressed or implied in any forward-looking statements made by Green Brick, you should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date of this press release, and Green Brick undertakes no obligation to update any forward-looking statement to reflect events or circumstances after such date.