BOCA RATON, Fla., March 16, 2026 /PRNewswire/ -- Freedom Mortgage Corporation, one of the nation's largest originators and servicers of residential mortgage loans, today announced that its indirect parent company, Freedom Superior LLC, has executed a definitive agreement to acquire Seneca Mortgage Servicing LLC and related entities (collectively, "Seneca") from EJF Capital LP. Seneca is an asset manager of mortgage servicing rights ("MSRs") and services the mortgage loans underlying those MSRs. The acquisition, once completed, will combine Seneca's experienced team and robust MSR portfolio with Freedom's well-honed expertise in mortgage servicing and operational excellence.

Freedom Mortgage Affiliate Signs Deal to Acquire Seneca Mortgage Servicing

Freedom intends to use the acquisition, once completed, to enhance Seneca's operational efficiency and leverage the Seneca platform to create new opportunities to grow its servicing business. Freedom also intends to build out the Seneca platform in order to create new opportunities for outside investors to invest in high-quality mortgage loan assets.

The acquisition is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

"We are excited to welcome the Seneca team to Freedom and have been impressed with what they have accomplished. We believe that combining Seneca with our premier mortgage operations will create great synergies and deliver exceptional results for Freedom's investors," said Greg Middleman, Managing Director of Freedom.

Piper Sandler & Co served as financial advisor to EJF Capital for the transaction.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the federal securities laws, regarding the closing of the acquisition contemplated by the definitive agreement with EJF Capital and Freedom's plans for Seneca following the closing of the acquisition. These statements include known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Freedom's statements are based on management's current expectations, assumptions and beliefs as of the date of this release. These statements are not guarantees of future performance or results. Factors that could cause actual results to differ materially include, but are not limited to, difficulties in obtaining the regulatory approvals need to close the Seneca acquisition timely or at all, the performance of the Seneca business between now and the closing, Freedom's ability to encourage new investors to participate in Seneca's platform, Freedom's ability to provide competitive subservicing for Seneca and to do so profitably over time, and other risks inherent in Freedom's business that are disclosed to investors in its securities offerings materials. Freedom undertakes no responsibility to update the forward-looking statements set forth in this release.

About Freedom Mortgage

Founded in 1990 and headquartered in Boca Raton, Florida, Freedom Mortgage is an independent mortgage company that provides mortgage loans through retail, wholesale, and correspondent channels. One of the nation's largest mortgage lenders and services, the company is licensed in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands. Freedom Mortgage is a top VA and FHA (government-insured) lender in the U.S. (Inside Mortgage Finance, January-September 2025) and is one of the mortgage industry's largest philanthropic supporters of the USO. The company is also renowned for its vibrant work environment, where all team members can thrive. In 2025, Freedom Mortgage was honored, for the fifth year in a row, as a Top Workplaces USA. Freedom Mortgage's mission is to foster homeownership for all consumers across America. Freedom Mortgage, Lender NMLS ID: 2767. Equal Housing Opportunity. For more information, visit FreedomMortgage.com.

About EJF Capital

EJF Capital LP ("EJF") is a global alternative asset management firm headquartered just outside of Washington, D.C., with an additional office in London. Since its founding in 2005 by Manny Friedman and Neal Wilson, the firm has focused on investment opportunities driven by regulatory change. As of December 31, 2025, EJF manages approximately $5.4 billion in assets spanning private credit, equities, litigation finance, real estate, venture capital, and separately managed accounts, including $2.9 billion in CDO assets through affiliates. To learn more, please visit http://ejfcap.com.

Freedom Mortgage Contact:

Beth Goldman, Freedom Mortgage

Senior Vice President of Public Relations

856-444-2008 or [email protected]

EJF Investor Relations:

Deanna Spaulding, Mark Schueler Gasthalter & Co.

(212) 257-4170 or (571) 982-7281

[email protected] or [email protected]

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SOURCE Freedom Mortgage Corporation