Publicly traded retail mortgage lender Guild Holdings is on the hunt for acquisitions, and it’s found a juicy target in Maine-headquartered retail lender Residential Mortgage Services Holdings.
The acquisition of RMS for $196.7 million (3.5x earnings) gives Guild a substantial foothold in the Northeast and a bevy of purchase business.
RMS, founded in 1991, has 70 offices across 14 New England and Mid-Atlantic states. In 2020, RMS originated $8.5 billion of mortgages, according to Inside Mortgage Finance. It’s averaged 70% purchase over the past decade, Guild, which originated $35.2 billion in 2020, said.
Based on 2020 loan originations, the combined details ⇒
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