Guild Mortgage Acquires First Centennial Mortgage
28 Agosto 2023 - 7:00AM
Business Wire
Customer-Centric Lender Based in Illinois
Brings Approximately 15 Branches, 9 Satellite Offices in 17 States
to Guild’s Growing National Retail Network; Expands Guild’s Market
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Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending
company originating and servicing residential loans since 1960, has
acquired First Centennial Mortgage, a privately held residential
mortgage lender headquartered in Illinois with branches
predominantly located in the Midwest whose culture, growth path and
customer-centric business approach closely aligns with Guild’s.
First Centennial Mortgage was founded by brothers Steven and
David McCormick in 1995. Family-owned, the company serves customers
with an extensive portfolio of mortgage products and services.
First Centennial Mortgage recently ranked 64 from the list of top
75 lenders in the US, according to the 2023 Scotsman Guide Top
Mortgage Lenders, and has been recognized as one of the fastest
growing private companies in the U.S. by Inc. Magazine from
2017–2022. The terms of the acquisition were not disclosed.
“We continue to effectively execute our strategy to grow and
gain market share through acquisitions where there exists a strong
cultural match and the potential for value is present for both
parties,” said Terry Schmidt, CEO of Guild. “In today’s market,
good companies are coming together to do great things where the
whole is stronger than the sum of its parts. First Centennial has
high-performing local teams with a history of steady growth, and
the Guild platform should allow them to accelerate growth and
supercharge the good work they are already doing.”
Steven McCormick, president of First Centennial Mortgage, said
his company has a similar culture and platform to Guild, focused
100% on retail, local sales and operational fulfillment. He
believes his company’s commitment to the borrower and their
satisfaction is the reason for First Centennial’s continued
success. It also makes the company a strong fit to align with Guild
with a shared commitment to customer service and focus on earning
customers for life.
“Guild’s customer for life approach has long been practiced by
all of us here at First Centennial,” said McCormick. “For 28 years
we have successfully navigated the ever-changing mortgage industry,
never wavering on our commitment to customer service. Joining
forces with Guild empowers our teams to continue to thrive and to
help build, together, what is sure to be the best platform to serve
both our borrowers and associates into the future.”
Headquartered in San Diego, Guild Mortgage is a leading national
lender with an established history of offering a comprehensive
array of loan products and partnering with government organizations
to help deliver the promise of home in every neighborhood and
community. Its loan professionals can serve the needs of any
homebuyer, from helping first-time buyers achieve homeownership,
often through government loan programs, to homebuyers looking for a
jumbo loan. Guild also helps active duty and retired military
personnel who qualify for VA loans with 100% financing and flexible
qualifying standards. The company is consistently recognized for
its impact in the communities it serves, commitment to customer
service, strength in regulatory compliance and workplace
culture.
About Guild Mortgage
Founded in 1960 when the modern U.S. mortgage industry was just
forming, Guild Mortgage Company is a nationally recognized
independent mortgage lender providing residential mortgage products
and local in-house origination and servicing. Guild’s collaborative
culture and commitment to diversity and inclusion enable it to
deliver a personalized experience for each customer. With more than
4,000 employees and over 300 retail branches, Guild has
relationships with credit unions, community banks, and other
financial institutions and services loans in 49 states and the
District of Columbia. Guild’s highly trained loan professionals are
experienced in government-sponsored programs such as FHA, VA, USDA,
down payment assistance programs and other specialized loan
programs. Guild Mortgage Company is a wholly owned subsidiary of
Guild Holdings Company, whose shares of Class A common stock trade
on the New York Stock Exchange under the symbol GHLD.
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version on businesswire.com: https://www.businesswire.com/news/home/20230828640025/en/
Media Contact Melissa Rue
Nuffer, Smith, Tucker mkr@nstpr.com (208) 850-5939 Investors: investors@guildmortgage.net
858-956-5130
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