Guild Mortgage (NYSE: GHLD), a leading mortgage lending company, announced an agreement to acquire retail lending assets from Academy Mortgage Corporation, a Utah-based specialty lender. The acquisition will add approximately 200 branches to Guild’s retail channel and more than 1,000 employees, including more than 600 licensed mortgage originators.
The move is expected to increase Guild’s annual loan volume by approximately 25%, making it the 8th largest non-bank retail mortgage lender in the US.
This transaction is in line with Guild’s strategy to expand its market share and solidify its position in the purchase mortgage market. Founded in 1988, Academy Mortgage has become one of the top independent lenders in the US and was recently named the #1 Top Rated Mortgage Lender on Zillow. In 2023, it originated $5.59 billion in loans.
Guild Chief Executive Officer Terry Schmidt said the acquisition brings together two like-minded organizations to grow stronger, emphasizing the shared commitment to customer service and community impact between the two companies. Adam Kessler, Chief Executive Officer of Academy Mortgage, will join Guild’s senior leadership team and help integrate Academy branches into Guild’s operations.
Both companies are licensed to lend in 49 states and Washington D.C. with a focus on the retail purchase mortgage market. More than 95% of combined loan volume in 2023 comes from this segment, which is expected to provide Guild with resilient volume and margins post-acquisition.
Guild anticipates that the acquisition will contribute to earnings when fully integrated, citing increased market share, expense synergies and the expected benefits of a disciplined focus on the buyout mortgage market.
