Guild Mortgage, a publicly traded mortgage lending company, has announced the acquisition of the retail lending assets of Academy Mortgage, a privately held Utah-based lender. The deal will add more than 1,000 employees and 200 branches to Guild’s network, as well as increase its annual origination volume by 25%.
The combined company will be the 8th largest non-bank retail lender in the country, with licenses in 49 states and Washington, D.C.
Both companies are focused on the retail purchase mortgage market, serving customers with a wide range of loan products and government programs. Academy Mortgage, founded in 1988, has a values-based culture and a strong reputation as the #1 Top Rated Mortgage Lender on Zillow. Academy Mortgage Chief Executive Adam Kessler will join Guild’s senior leadership team and oversee the transition of Academy branches to the Guild brand.
The acquisition is part of Guild’s strategy to position itself as the preferred platform for local, retail mortgage originators seeking long-term growth and stability. Guild, headquartered in San Diego, has a history of offering comprehensive loan products and partnering with government organizations to deliver the promise of home in every community it serves. The company is also recognized for its impact, customer service, compliance, and culture.
The transaction is expected to create long-term value for the company and its sales force, as it will enable them to capture more market share and repeat business in the current high-rate market cycle.
“Guild and Academy share a commitment to the purchase mortgage market and believe in local sales and fulfillment that builds on our customers for life strategy. Our aligned core values attract employees dedicated to serving their communities and delivering on the promise of homeownership,” said Guild Chief Executive Terry Schmidt.
“This transaction represents two like-minded organizations joining forces to continue to grow stronger together. Each acquisition we’ve completed has brought new talent to Guild, making us a better company. We’re excited to extend a warm welcome to our new Academy teammates and build on their talent with the support of Guild behind them.”
“Academy has always led the industry in its commitment to Inspiring Hope, Delivering Dreams, and Building Prosperity – for our homeowners, partners, and employees. Joining forces with Guild Mortgage will allow us to accelerate our collective desire to preserve and promote that vision as we work together to become the nation’s best independent mortgage lender,” said Kessler.
“I’ve known Terry and the Guild team for a long time, and our common mission, vision, and values made it clear joining forces would be a win-win for both companies. Joining Guild provides new opportunities for our team to access Guild’s industry-leading product suite and leverage Guild’s robust reputation, technology, and servicing platform while strengthening both organization’s focus on people, purpose, productivity, and prosperity.”
Bluestep Bank acquires Norwegian specialist mortgage bank Bank2 for NOK 1 billion