Cherry Creek Mortgage, a nationwide, full-service mortgage lender, will change ownership and reorganize its corporate structure to better support the company’s continued growth.
Under the restructuring, the company is 100 percent owned by the family of its co-founder, Jeffrey May. Previously, the company was owned by the families of May and its other co-founder, the late U.S. Sen. Bill Armstrong. Terms of the change in ownership were not disclosed, but both families are extremely pleased with the outcome.
In addition, the company’s owners have formed Cherry Creek Holdings Group, LLC, the new parent company of Cherry Creek Mortgage and other affiliated businesses. May will serve as chairman and CEO of Cherry Creek Holdings and will continue to serve as president of Cherry Creek Mortgage.
The company also announced Rick Seehausen has been appointed to president and COO of Cherry Creek Holdings, where he will oversee all company operations, including IT, human resources, legal, accounting, marketing, and compliance divisions. Prior to joining Cherry Creek Mortgage in 2019 as executive vice president, Seehausen was the founder and CEO of LenderLive, which he grew into the mortgage industry’s largest provider of outsourced fulfillment services.
“We are incredibly excited about the future of Cherry Creek Mortgage and this new phase in our journey together,” Seehausen said. “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.”
“Rick brings a wealth of leadership, experience and wisdom that will create significant opportunities for us going forward,” said May. “He’s a guy who gets things done, and I’m grateful that he will be playing a significant leadership role in the future of our business.”
Founded in 1987, Cherry Creek Mortgage provides a robust offering of FHA, conventional and jumbo purchase and refinance mortgage loans utilizing a highly advanced, proprietary technology platform. The company originates loans through more than 70 retail branches, a highly efficient consumer direct channel, wholesale, and a number of highly successful joint ventures.
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