SAN DIEGO - Guild Mortgage (NYSE: GHLD), a prominent mortgage lending company, has announced an agreement to acquire retail lending assets from Academy Mortgage Corporation, a Utah-based private lender. The acquisition will add approximately 200 branches and over 1,000 employees, including more than 600 licensed mortgage originators, to Guild's retail channel.
This move is expected to increase Guild's annual origination volume by about 25% and position it as the 8th largest non-bank retail mortgage lender in the United States.
The transaction aligns with Guild's strategy to expand its market share and solidify its position in the purchase mortgage market. Academy Mortgage, founded in 1988, has grown into a top independent lender in the U.S. and was recently named the #1 Top Rated Mortgage Lender on Zillow (NASDAQ:ZG). In 2023, it generated $5.59 billion in loan originations.
Guild Chief Executive Terry Schmidt emphasized the shared commitment to customer service and community impact between the two companies, stating that the acquisition brings together two like-minded organizations to grow stronger. Academy Mortgage Chief Executive Adam Kessler is set to join Guild's senior leadership team and help integrate Academy branches into Guild's operations.
Both companies are licensed to originate loans in 49 states and Washington D.C., with a focus on the retail purchase mortgage market. Over 95% of their combined loan volume in 2023 came from this segment, which is expected to provide Guild with durable volume and margins post-acquisition.
Guild anticipates that the acquisition will be accretive to earnings once fully integrated, citing expected benefits from increased market share, expense synergies, and a disciplined focus on the purchase mortgage market.
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