In December 2003, CIVC Partners, Dallas Capital and a group of private investors invested $30 million to acquire the stock of Oakmont Mortgage Inc., a leading mortgage lender based in Woodland Hills, CA.

The company changed its name to Ownit Mortgage Solutions and became one of the nation's leading originators of non-agency purchase money loans. In September of 2005, Merrill Lynch made a strategic investment in Ownit Holdings, LLC. Merrill Lynch purchased 20% of the company in exchange for $100 million dollars, and a $2.5 billion warehouse lending facility.

On December 7, 2006, the company ceased operations.