Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC).
Financial terms of the deal were not disclosed.
The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s.
Thrive’s chief operations officer Selene Kellam, who designed the lender’s operations workflow, will be the chief executive officer starting in 2023. Thrive co-founder Roy Jones will move to a chairmanship role.
“We have never had a stated goal of being the details ⇒
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