CrossCountry Mortgage Unveils $750 Million Senior Notes Offering Amid Growth Initiatives

CrossCountry Mortgage Announces Pricing of Senior Notes

CrossCountry Mortgage, LLC (CCM), recognized as the leading distributed-retail mortgage lender in the United States, has publicized significant financial news this August. The company’s direct parent, CrossCountry Intermediate HoldCo, LLC, has priced an upsized offering of $750 million aggregate principal amount of 7.750% senior notes due in 2031. This move is part of CCM’s broader strategy to enhance its financial standing and facilitate continued growth.

These senior notes are set to be guaranteed on a senior unsecured basis by CrossCountry Mortgage itself and any future wholly owned domestic subsidiaries that might guarantee material corporate debts. It’s worth noting that this offering is anticipated to conclude around August 13, 2026, pending standard closing prerequisites.

The net proceeds from this offering are intended for paying down a portion of the outstanding amounts under CCM’s mortgage servicing rights credit line, alongside associated fees. This financial maneuver aims to consolidate CCM's debt and streamline their financial operations, allowing the company to remain agile in a competitive marketplace.

The offering adheres strictly to regulatory frameworks, being available only to Qualified Institutional Buyers as defined under Rule 144A of the Securities Act of 1933. Additionally, it will be accessible to certain non-U.S. entities in compliance with Regulation S. Importantly, these notes haven’t been registered under the Securities Act or any other jurisdiction's securities laws, restricting their sale within the U.S. unless compliant with registration or exemptions.

Caution and Forward-Looking Statements

This announcement also includes several forward-looking statements regarding the offering and intended use of proceeds. The company reminds its stakeholders that such projections are subject to inherent risks and uncertainties. Essential factors could influence actual results, including challenges in successfully completing the offering. CCM has no obligation to update these forward-looking statements following this release.

About CrossCountry Mortgage

Founded as America's top retail mortgage lender, CrossCountry Mortgage currently employs over 9,000 staff and operates more than 1,100 branches across all 50 states, Washington D.C., and Puerto Rico. Recognized repeatedly on the Inc. 5000 list of the fastest-growing private businesses in America, CCM is known for its vibrant corporate culture and commitment to client satisfaction. The company offers a diverse range of mortgage solutions, including conventional, jumbo, and government-insured loans, ensuring it meets the varied needs of its clients. With its robust lending operations and impressive workforce, CCM continues to shape the mortgage landscape nationwide.

In conclusion, this notable announcement reflects CCM’s ongoing efforts to secure financial stability while aiming for expansive growth in the competitive mortgage market. The introduction of the senior notes offers a strategic avenue to enhance liquidity and sustain the company’s path forward in the dynamic financial environment.