Guild Mortgage has agreed to acquire the retail lending assets of Academy Mortgage Corporation, a privately-held Utah-based lender. Academy Mortgage boasts approximately 200 branches and employs more than 1,000 who will transition to Guild, including more than 600 licensed mortgage originators.
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 Q3 of 2023. Both Guild and Academy Mortgage are licensed to originate loans in 49 states and Washington, D.C.
“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 Mortgage CEO 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.”
Founded in 1988, Academy Mortgage has earned a reputation as a values-based organization that serves customers, communities, and employees, above all. Academy Mortgage 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 Mortgage generated $5.59 billion in loan originations.
Academy Mortgage Chief Executive Adam Kessler will join Guild’s senior leadership team through the transition and newly combined organization. Branches will operate as a division within Guild, and transition to the Guild brand.
“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.”
Academy becomes the sixth lender to join forces with Guild via acquisition since 2021, and will increase Guild’s number of licensed originators to more than 2,100. Based on origination volume of both organizations through Q3 of 2023, the combined enterprise would represent 1.3% of retail market share among non-bank retail mortgage lenders, which would rank eighth nationally.
Both Guild and Academy are committed to the retail purchase mortgage market, with more than 95% of their combined loan volume in 2023 generating from the local retail market in communities they serve.
