Guild Mortgage (NYSE: GHLD), a prominent mortgage lending company with a history dating back to 1960, has reached an agreement to acquire the retail lending assets of Academy Mortgage Corporation, a privately held lender based in Utah.
“The addition of Academy Mortgage will extend Guild’s market share across its national footprint. Academy’s loan volume represents an approximate 25% increase in annual origination volume for Guild, based on results from both organizations through the third quarter of 2023, and the combined company would be the 8th largest non-bank retail lender in the country1. Guild is currently the 10th largest non-bank retail lender. Both Guild and Academy Mortgage are licensed to originate loans in 49 states and Washington, D.C.”
Guild’s Chief Executive, Terry Schmidt, expressed enthusiasm for the acquisition, stating, “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.”
Founded in 1988, Academy Mortgage has earned a reputation as a values-based organization that serves customers, communities, and employees, above all. Academy has grown into one of the top independent lenders in the U.S., with approximately 200 branches across the West, Central, and Southeast regions. In 2023, Academy generated $5.59 billion in loan originations. The company was recently named the #1 Top Rated Mortgage Lender on Zillow.
As part of the acquisition, Academy Mortgage Chief Executive Adam Kessler will join Guild’s senior leadership team. Academy branches will operate as a division within Guild and transition to the Guild brand.
The acquisition underscores Guild’s strategy to position itself as the preferred platform for local, retail mortgage originators seeking long-term growth and stability. It also reflects both companies’ commitment to the retail purchase mortgage market, with more than 95% of their combined loan volume in 2023 originating from the local retail market.
Overall, the transaction is expected to create long-term value for the company and its sales force, with substantial volume growth anticipated as market conditions evolve. Guild expects the transaction to be accretive to earnings once fully integrated.
