San Diego-headquartered Guild Mortgage (NYSE: GHLD) has acquired the retail lending assets of Academy Mortgage Corp., a Utah-based lender.
Academy generated $5.59 billion in loan originations in 2023, and its approximately 200 branches and more than 1,000 employees – including over 600 mortgage originators – will become part of Guild. Academy CEO Adam Kessler will join Guild’s senior leadership team, although it was unclear what his role will be within Guild.
The companies said their combined state will create the nation’s eighth largest nonbank retail lender; this transaction is Guild’s sixth acquisition since 2021. The financial terms of the deal were not disclosed.
“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,” said Guild CEO Terry Schmidt. “Our aligned core values attract employees dedicated to serving their communities and delivering on the promise of homeownership. 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.”
