Guild Mortgage announced Monday that it is acquiring AmeriPro Home Loans, a move that San Diego-based lender says will make it “one of the largest independent mortgage lenders in Texas.”
AmeriPro Home Loans is based in Austin, Texas, and was founded in 2003. The company has a total of 29 branches in Texas, Oklahoma, Florida, Colorado, California and Utah.
According to information provided by Guild Mortgage, AmeriPro Home Loans did $750 million in loan volume in 2015.
Since 2008, AmeriPro Home Loans has been a subsidiary of Tenura Holdings, an Austin-based investor in realty, title and insurance companies, but now, AmeriPro Home Loans will be part of Guild Mortgage.
According to a release from the company, the AmeriPro Home Loans acquisition is the latest in Guild’s expansion efforts, which have seen the company grow from 75 branches and satellite offices to more than 230 over the last five years.
During that time, Guild grew beyond its California roots and expanded into the Southeast and Southwest.
Additionally, from 2010-2015, the company said that its Loan volume increased from $4.1 billion to $13.8 billion. During the same time period, the company’s mortgage servicing volume more than tripled, from $6.4 billion to $22.3 billion.
And now, the company is expanding again with the acquisition of AmeriPro Home Loans, which grew from one branch and three employees in 2003 to 29 branches with more than 250 employees in 2016.
According to Chad Overhauser, president of AmeriPro Home Loans, the company has grown because of its “strong corporate culture that focuses on delivering an exceptional experience to every customer and employee.”
Overhauser will remain with the company as part of the acquisition, becoming regional vice president at Guild charged with leading the AmeriPro branches.
“We’ve admired Guild’s growth from afar over the past couple of years,” Overhauser said. “Both companies have an entrepreneurial spirit and dedication to providing the highest levels of customer service. Guild adds more than 50 years of experience in the industry, plus new resources and products to benefit every homebuyer we serve.”
Mary Ann McGarry, Guild’s president and CEO, said that the acquisition is an “important step” in the company’s growth plan.
“AmeriPro and Guild together will be stronger in every way than each company is today,” said Mary Ann McGarry, Guild’s president and CEO.
“AmeriPro is recognized throughout the region for the quality of its customer service and empowering the individual,” McGarry continued.
“Guild brings technology in support of sales, custom-built systems, tools, products, a servicing portfolio, a strong balance sheet, an entrepreneurial and team-oriented approach and management strength with a group of owner managers committed to continuing success,” McGarry added.
“Guild shares AmeriPro’s focus on its people, its business practices, values, and competitive energy,” McGarry said. “AmeriPro provides Guild with market leadership in the state of Texas.”