Union Home Mortgage Corp. (UHM) has acquired AmeriTrust Mortgage Corp. in an asset deal that closed in 45 days, boosting UHM’s exposure to the nonqualified mortgage (non-QM) market. Financial terms were not disclosed.

“There have been long-term relationships between some of the senior executives on both sides,” UHM CEO Bill Cosgrove told HousingWire. “We are acquiring the assets of AmeriTrust, predominantly a retail lender — there’s no servicing involved in the transaction.”

The deal, announced Friday to employees, comes amid difficult market conditions.

“Not only AmeriTrust, but the entire industry is still facing details ⇒

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