South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced. It did not disclose the deal terms.
Superior Rate, based in North Andover, Mass., was founded in 2014 and grew to become the largest mortgage brokerage in New England, with a sales volume of $412 million in the past year. Superior Rate leader Matt Rasetta will join Movement along with his staff of 48 to serve homebuyers and real estate agents in the Greater Boston area.
The company was first established in Rhode Island. Before the deal with Superior Rate Mortgage, Movement employed 200 individuals and produced an annual volume of $1.6 billion in the area, the company said.