Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. The terms of the deal have not been disclosed but it is expected to close by the end of March 2025.

A&D reported that the two entities being acquired funded more than $10 billion in originations in 2024. It also said that the impacted employees at Mr. Cooper will be offered an opportunity to join A&D when the transaction is finalized.

“We took a very careful and measured approach to finding a potential partner to grow details ⇒

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