Guild Acquires Inlanta After Wind-Down Announcement

Just days ago, Inlanta Mortgage seemed poised to go under due to declining homebuyer demand.

The Wisconsin-based company operates in 27 states. Leaders there announced plans to close next year, starting the winding down process immediately.

The company cited “the dramatic and unanticipated drop in mortgage product demand” for its demise. In a letter to Wisconsin’s Department of Workforce Development, it said 62 employees would be let go.

Some of those employees may now be saved from termination by Guild Mortgage, which announced it is acquiring Inlanta.

Terms of the acquisition were not disclosed.

In a press release, Guild CEO Mary Ann McGarry said the decision aligns with Guild’s expansion mindset.

“Inlanta is a natural fit because of its almost 30-year history, strong management team, employee-oriented culture, and dedication to customer service,” McGarry said. 

“Its culture and values mirror what we’ve been building at Guild for more than 60 years. Together we will use our combined strengths to drive further growth throughout the Midwest.”

Inlanta founder John Knowlton said the move gives Midwest borrowers “a broader array of loan options and access to new digital and customer relationship tools.”

“Our combined resources and customer service cultures will drive future growth throughout the region,” he said.

At a time when many lenders are closing offices and laying off employees, leaders at Guild have prioritized their desire to branch out.

In an interview with HousingWire earlier this year, McGarry said she was on the lookout for companies in good standing to add to Guild’s stable.

“When there’s a dislocation in the market, there’s tons of opportunities – to pick up the talent, to get new programs, to find a niche,” she said.

“We are going to be patient and thoughtful to take a good opportunity, aligning cultures and making sure the deal makes economic sense.”

In March, Guild earned their fifth consecutive Servicer Total Achievement and Rewards performer recognition from Fannie Mae.

According to a press release, the STAR Performer recognition is reserved for top-performing servicers in one or more of three categories: General Servicing, Solution Delivery, and Timeline Management.

Guild Mortgage received recognition for Solution Delivery during the 2021 STAR Program year, earning the distinction for the first time in this category covering loss mitigation operations, retention, and liquidation.

Fannie Mae has recognized the company in the General Servicing category four times.

Russ Fowlie, Executive Vice President of Loan Servicing, spoke with The Mortgage Note about the accomplishment.

“This award demonstrates that we’ve got the mindset of keeping a customer for life,” Fowlie said. “We want them to come back to us when they have their next mortgage need.”

Fowlie gave credit to his team.

“I think it always starts with the people,” Fowlie said. “I inherited a great team who was already doing great work in the loss mitigation place.”

Leaders at Guild Mortgage have partnered with the National Association of Hispanic Real Estate Professionals as part of their commitment to diversity and inclusion.

The association is dedicated to advancing sustainable homeownership for the Hispanic community in America with a network of over 40,000 professional members and 100 local chapters nationwide.

Jorge Montoya, a branch manager at Guild in Reno, Nevada, recently sat down with The Mortgage Note. He said the key to improving Hispanic home ownership is education.

“We’ve really focused on educating the Latino clientele about it’s not just getting a mortgage, but it’s getting a mortgage with a plan, and what is that plan? Is this going to be a forever plan? Is this going to be a starter home to get you into the next thing? And that, in my opinion, is how we have earned trust, because we’re giving more than what we’re called to do,” Montoya said.

NAHREP named six loan officers from Guild Mortgage in its eighth annual Top 250 Latino Mortgage Originators Report for 2022.

Sponsored by Freddie Mac, the report recognizes the top-producing Latino mortgage professionals across the United States. Montoya was the top Guild Latino loan officer with 514 transactions. 

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