Mortgage veteran sells Ameritrust to Montage Mortgage
| By Rick Rothacker, The Charlotte Observer | |
| McClatchy-Tribune Information Services |
Owens quietly sold the company at the end of last year to a company called Montage Mortgage, which plans to expand in
Owens said changes in the regulatory environment and a family health scare last year motivated him to sell the mortgage business he began building in 1995.
"It was time for a change for me," Owens said in an interview this week.
Montage started in
Leslie is best known for co-founding a
Montage is a niche mortgage company that doesn't generally market directly to retail customers, Leslie said.
Montage has around 50 employees, with more than 30 in
Owens, 48, said he continues to expand his wealth management business and
The former UNC Charlotte baseball player is also the CEO of
Owens launched Ameritrust Mortgage as a subprime lender in 1995, but it stopped making these higher-rate loans in 2007 when the industry imploded. He later rebuilt the company as a prime lender.
Increased regulation is "handcuffing" small mortgage companies, Owens said. "It was time for me to just break away ... because it's a different regulatory business than it was in the past," he said.
Owens also began evaluating his priorities after his son, Nick, contracted a mysterious virus last summer that kept him hospitalized for months. He has recovered, resuming his Charlotte Christian baseball career with plans to play for
"I keep preaching passion for what you do," he said, "and I just saw that I found a new passion."
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