Two Maryland-based retail mortgage lenders struck an M&A deal this week as NFM Lending has agreed to acquire Homespire Mortgage, the companies confirmed on Friday. The financial terms were not disclosed.

With the acquisition, Linthicum-based NFM will expand its presence along the East Coast, while Homespire will gain access to new growth opportunities amid a challenging market for smaller mortgage lenders. 

Founded in 1998 by David Silverman, NFM originated about $7.15 billion in mortgages over the past 12 months — primarily in Florida, Maryland and Ohio — according to RETR data. As of Friday, the company details ⇒

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