A New Era: A&D Mortgage Expands its Horizon
In a groundbreaking announcement on Friday, A&D Mortgage, a prominent non-QM lender based in Florida, shared the exciting news of its recent acquisition of the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. This strategic move marks a significant milestone for A&D Mortgage, signaling a new chapter of growth and innovation within the industry, set to unfold by the end of March 2025.
Key Points:
- A&D Mortgage revealed that the entities being acquired facilitated over $10 billion in originations in 2024, underscoring the substantial impact of this acquisition.
- As part of the transition, A&D Mortgage extended an invitation to the affected employees at Mr. Cooper to join their team upon finalization of the transaction.
- Max Slyusarchuk, CEO of A&D Mortgage, emphasized the meticulous selection process in choosing a partner to bolster their QM business, expressing optimism about the future prospects of the company. Slyusarchuk articulated, “A&D’s goal is to be an industry leader, and this transaction is a big step forward.”
Details:
Following the completion of the deal between Mr. Cooper and Flagstar Bank in November, A&D Mortgage seized the opportunity to diversify its broker network, now encompassing more than 8,500 partners. A&D Mortgage stands out for offering an extensive range of over 20 lending programs spanning various categories, including agency, government, jumbo, and non-QM loans. Moreover, the company boasts a cutting-edge proprietary origination system designed to streamline the funding process for maximum efficiency.
Industry Insights:
According to estimates from Inside Mortgage Finance (IMF), A&D Mortgage secured the 80th position among the top lenders nationwide in the first three quarters of 2024, originating a notable $2.37 billion in loans, reflecting a 37.5% increase year over year. In comparison, Texas-based Mr. Cooper ranked 22nd during the same period, with a substantial annual growth rate of 35.4%, totaling $13.5 billion in originations. Furthermore, IMF data revealed that Mr. Cooper holds the esteemed title of the nation’s fourth-largest servicer, possessing $678 billion in owned servicing rights as of the third quarter of 2024.
Parting Words:
Lana Izgarsheva, Chief Operating Officer of A&D Mortgage, expressed her enthusiasm about the successful culmination of the acquisition process, highlighting the shared values and expertise that solidified the partnership. Izgarsheva remarked, “It took almost three years of screening candidates and finally we found what we were looking for. The deep expertise in the mortgage business, the high-tech culture, and most importantly, the core values of the team—these are things we are similar in.”
As A&D Mortgage embarks on this transformative journey, the industry eagerly anticipates the positive impact of this strategic move, poised to enhance both the company’s operations and the services it offers to its valued clients and partners.
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