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Guild Mortgage Acquires Legacy Mortgage

Posted on by darion

Acquisition of New Mexico-based mortgage lender expands Guild’s presence in the Southwest market, adding 13 branches in 4 states

Guild Mortgage (NYSE:GHLD), a growth-oriented mortgage lender that has been originating and servicing residential loans since 1960, expanded its presence in the Southwest region with the acquisition of Legacy Mortgage, a New Mexico-based independent mortgage lender.

Legacy Mortgage was founded in Albuquerque, New Mexico, in 2002. Jack Thompson joined Legacy in 2006 as co-owner and CEO/president, growing the company into a leading New Mexico firm. Thompson purchased the company in 2006. Legacy will become part of Guild’s Southwest Region. Terms of the acquisition were not disclosed.

Legacy is widely respected for its market leadership and community involvement, with 13 branches in four states – Arizona, Colorado, New Mexico and Texas, and offering a wide range of purchase and refinance loan options.

“This acquisition is part of the company’s ongoing plan to grow both in existing markets and by entering new markets through selective acquisitions of like-minded lenders,” said Mary Ann McGarry, Guild’s CEO. “Legacy Mortgage recently celebrated 20 years of providing residential financing, and our team has always admired the company’s commitment to its employees and customers. We are excited to continue to expand Guild’s presence in the high-growth Southwest region, and the culture of Legacy Mortgage aligns well with what we have developed at Guild over 60 years. Our combined strengths will drive continued growth throughout the Southwest.”

“By joining the Guild, the Legacy Mortgage team can offer borrowers a broader range of loan purchase and refinance options, including FHA, VA, USDA, down payment assistance programs and other specialized lending programs,” Thompson said. “Customers will also benefit from access to new digital and customer relationship tools that will streamline every step of lending, including servicing, which has been a strength of the Guild for decades.”

San Diego-based Guild Mortgage is a leading national lender with a strong history of offering a comprehensive range of loan products and partnering with government organizations to help deliver the promise of home in every neighborhood and community. Its loan officers can meet the needs of every homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers seeking a large loan. Guild also helps active and retired military personnel who qualify for VA loans with 100% financing and flexible qualification standards. The company is consistently recognized for its impact on the communities it serves, its commitment to customer service, its strong record of regulatory compliance and its workplace culture.

About Guild Mortgage

Founded in 1960, when the modern American mortgage industry was still in its infancy, Guild Mortgage Company is a nationally recognized independent mortgage lender offering residential mortgage products and local in-house origination and servicing. Guild’s collaborative culture and commitment to diversity and inclusion enable it to provide a personalized experience for each customer. With more than 4,000 employees and more than 250 retail branches, Guild maintains 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 officers are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized lending programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose Class A common stock is traded on the New York Stock Exchange under the symbol GHLD.