Terry Schmidt believes she surprised the mortgage industry.

Schmidt, the director and CEO of Guild Mortgage Co., was referring to the June 2025 announcement that the company would be acquired by Bayview Asset Management. The transaction officially closed in November.

“Many found that this was very surprising because we’ve been independent for so long,” Schmidt said on stage Tuesday during a session at the Mortgage Bankers Association (MBA)’s IMB26 Conference in Florida.

Bayview already owned a stake in Guild and had closely monitored the lender’s performance since its 2020 initial public offering. details ⇒

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