Prospect Mortgage on Monday said it has acquired Diamond Mortgage Group in Connecticut.

Prospect Mortgage is a private equity-backed Sherman Oaks residential retail mortgage lender with offices in Chicago, Baltimore, and Miami. Diamond Mortgage is based in Niantic, Conn., and operates primarily in Southeastern Connecticut.

"The team at Diamond matches extremely well with Prospect's strategy and our dedication to providing a high level of customer service,” Scott Johnson, Prospect’s Northeast president, said in a statement.

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