Union Home Mortgage reached an settlement to acquire the assets of Sierra Pacific Mortgage, National Mortgage News has confirmed.
Terms of the transaction weren’t accessible.
The Strongsville, Ohio firm headed by previous Mortgage Bankers Association Chairman Bill Cosgrove has accomplished various acquisitions in recent times.
“We are excited to work with such a proficient, properly revered firm and welcome them to partnership at Union Home Mortgage,” Cosgrove mentioned in an emailed assertion.
Sierra Pacific relies in Folsom, California; it was based in 1986 by Jim Coffrini.
In March, Union Home purchased Nations Reliable Lending of Houston. Amerifirst Home Mortgage of Kalamazoo, Michigan grew to become a part of the group in December 2022.
Additionally, a crew of 16 mortgage officers led by two former UMortgage managers, joined UHM’s Cincinnati workplace this previous July.
What different current mortgage M&As are occurring
It’s been a quite lively interval for mortgage trade mergers, led by the Rocket-Mr. Cooper tie up; this follows the not too long ago accomplished transaction that introduced Redfin below the Detroit firm’s umbrella.
Also introduced on Tuesday was Credit Union One’s acquisition of Icon Mortgage. Credit Union One mentioned it is going to retain Icon’s workers and the senior government crew whereas working the acquired firm as a separate mortgage lending affiliate. Terms of the transaction weren’t disclosed.
“By bringing in Icon Mortgage, we have added an amazingly proficient crew of confirmed mortgage professionals, mentioned Gary Moody, CEO of Credit Union One, in a press launch.
Icon Mortgage can be hiring “to meet anticipated demand” because of the acquisition, CEO Jeremy Hall mentioned.
New Jersey-based Anniemac added two Sunshine State mortgage firms throughout a two-month interval this summer time, Florida Funding and Home Solution Lenders.
Meanwhile, Guild Holdings is being taken non-public by way of a merger with Bayview Asset Managers in a $1.3 billion transaction.
The firm now often called Fairway Home Mortgage did its personal deal in June when it acquired the assets of Hallmark Home Mortgage.
But one quite distinctive mortgage tie-up fell aside in July, when Beeline Financial offered its majority stake in what was as soon as a publicly traded distillery, Bridgetown Spirits Corp. This transaction was introduced in September 2024, however by July the pair went their separate methods. Beeline administration mentioned an anticipated improved mortgage atmosphere in 2026 is why it determined to go it alone. But it remained because the publicly traded entity after it offered the stake in Bridgetown.
Bonnie Sinnock contributed to this report
