Guild Mortgage is acquiring its friendly competitor Academy Mortgage Corporation, gaining 200 branches and more than 600 licensed mortgage originators in the process.
Utah-based Academy Mortgage will extend Guild’s market share across the nation, Guild said in a press release, thanks to the number of employees and size of the business to transition over. Both companies are licensed in 49 states and Washington, D.C.
Academy’s branches will transition to Guild branding and operate as a division within Guild.
Academy’s loan volume will bring in about a 25% increase in annual origination volume for Guild.
Academy Mortgage Chief Executive Adam Kessler will join Guild’s senior leadership team. Guild CEO Terry Schmidt called the acquisition “two like-minded organizations joining forces to continue…
By KIMBERLEY HAAS
The woman who led Guild Mortgage as it grew into a national company with operations in 49 states says the key to success is to have confidence and ask questions.
Mary Ann McGarry retired as the CEO of Guild at the end of June after nearly 39 years with the company.
“I would just remind everyone to have confidence in what they can do and their abilities. They don’t have to know everything 100%, especially in this business, and it changes every day, so you have to be able to learn,” McGarry said in a recent interview with The Mortgage Note. “Learn everything and then you’ll earn it. Just keep voicing ideas and asking questions. Don’t be…
Guild Mortgage CEO Mary Ann McGarry is retiring this June after forty years in the industry, leaders at the lender announced in a press release.
McGarry joined Guild in 1984 as a supervisor in internal audit. She was promoted to SVP of loan administration and information technology soon after and joined the board of directors in 1988. She then served as CFO, chief production operations officer, and COO, before becoming president in 2005.
In 2007, she became CEO and led a management buyout of the company from its founder.
“On behalf of the board of directors and the entire company, we are forever grateful for Mary Ann’s extraordinary contributions to Guild,” said Patrick Duffy, chairman of the board.
“We look…
