Citizens Financial’s Acquisition of the Assets of Franklin American Mortgage

Debevoise & Plimpton, LLP is serving as legal advis or to Citizens. Morgan Stanley & Co., LLC acted as f inancial advisor to Franklin American Mortgage on the transaction. Baker, Donelson, Bearman, Caldwell & Berkowitz, PC acted as legal advisor to Franklin American Mortgage on the transaction.

Citizens Financial Group, Inc. finalized its purchase of the assets of Franklin American Mortgage Company, a Franklin, Tennessee-based, highly regarded national mortgage servicing and origination firm with a leading position among private, non-bank mortgage companies. The transaction is expected to close in the third quarter of 2018.

Headquartered in Providence, Rhode Island, Citizens is one of the nation’s oldest and largest financial institutions, with $153.5 billion in assets as of March 31, 2018.

Franklin American Mortgage Company Inc., a mortgage banking company, provides residential mortgage loans to consumers and mortgage professionals throughout the United States.

The Debevoise team is led by partners Gregory J. Lyons (Picture) and Kevin M. Schmidt and includes partners Michael Bolotin, Courtney M. Dankworth, Luke Dembosky and Elizabeth Pagel Serebransky; counsel Charles E. Wachsstock; and associates Nicholas M. Bessette, Marie Renée Cita, Peter J. Dalmasy, Emily F. Huang, Nnenne C. Okorafor, Naeha Prakash and David R. Rock.

Involved fees earner: Gregory Lyons – Debevoise & Plimpton; Kevin Schmidt – Debevoise & Plimpton; Emily F. Huang – Debevoise & Plimpton; Nicholas M. Bessette – Debevoise & Plimpton; Marie Renée Cita – Debevoise & Plimpton; Nnenne Okorafor – Debevoise & Plimpton; Naeha Prakash – Debevoise & Plimpton; Michael Bolotin – Debevoise & Plimpton; David Rock – Debevoise & Plimpton; Courtney Dankworth – Debevoise & Plimpton; Luke Dembosky – Debevoise & Plimpton; Elizabeth Pagel Serebransky – Debevoise & Plimpton; Charles Wachsstock – Debevoise & Plimpton; Peter Dalmasy – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Citizens Financial Group, Inc.;

Author: Ambrogio Visconti