The deal is the latest in Guild’s string of acquisitions. The company bought Legacy Mortgage in February, which expanded its presence in the southwest region. Legacy originates loans in four states: Arizona, Colorado, New Mexico, and Texas.
“We continue to look for potential new partners with strong local teams, a history of growth and community commitments,” said Guild Mortgage CEO Mary Ann McGarry. “Cherry Creek has grown steadily over the years and shown a dedication to giving back that parallels ours, with an executive team and loan officers who are active in every market. Guild has a longstanding admiration for Cherry Creek’s approach to business and its accomplishments, and we feel confident our two companies will be able to take advantage of our synergies in each market and do even more for our customers together.”
Investment bank JMP Securities is representing Cherry Creek in this transaction, and the terms of the acquisition were not disclosed.
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Source: mpamag.com