The deal gives late Senator's partner 100% ownership, involves appointment of new COO
Cherry Creek Mortgage has announced a change in ownership and corporate reorganization. The ownership stake held by the family of late U.S. Senator Bill Armstrong of Colorado has been sold to the family of the firm’s co-founder, Jeffrey May.
According to a press release, both families are “extremely pleased” about the outcome. The terms of the deal were not disclosed.
May will continue to serve as president of Cherry Creek Mortgage and will serve as Chairman and CEO of the firm’s new parent company, Cherry Creek Holdings Group LLC.
The company also announced Rick Seehausen has been appointed president and COO of Cherry Creek Holdings. Seehausen was previously founder and CEO of LenderLive.
“We are incredibly excited about the future of Cherry Creek Mortgage and this new phase in our journey together,” Seehausen said in a press release. “Even though our corporate structure is changing, our mission remains the same—to provide consumers with all the mortgage services they need to achieve and sustain homeownership.”
