As part of a restructuring to support future growth, the family of Jeffrey May, co-founder of Denver-based Cherry Creek Mortgage, a nationwide, full-service mortgage lender, has acquired the percentage of the company owned by the family of the company’s other co-founder, the late U.S. Sen. Bill Armstrong. The May family now owns 100% of the lender. Terms were not disclosed.
In addition, the 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. Rick Seehausen has been appointed 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.
Founded in 1987, Cherry Creek Mortgage provides a robust offering of FHA, conventional and jumbo purchase and refinance mortgage loans utilizing a proprietary technology platform. The company originates loans through more than 70 retail branches, a consumer direct channel, wholesale and a number of joint ventures.
