Guild Mortgage Acquires AmeriPro Home Loans; Becomes One of the Largest Independent Mortgage Lenders in Texas
Austin-Based Firm Adds 29 Branches, $750 Million in Loan Volume
Guild Mortgage Co. has reached an agreement to acquire AmeriPro Home Loans based in Austin, Texas, with 29 branches and $750 million in loan volume in 2015. The transaction is expected to close July 1 and will make Guild one of the largest independent mortgage banking companies in Texas. The acquisition will also add new Guild branches in Oklahoma, Florida, Colorado, California and Utah. AmeriPro was founded in 2003 and has become recognized as a leading residential lender in the Southwest. Since 2008, it has been a subsidiary of Tenura Holdings, Inc., an Austin-based investor in realty, title and insurance companies.
The acquisition is the newest step in Guild’s long range plan to grow through acquisition, adding branches in new and existing markets, and preserving its customer service culture with experienced, talented loan officers with established relationships. From 2010 to 2015, Guild grew from its western base into the Southeast and Southwest, increasing its number of branches and satellites from 75 to more than 230. Loan volume in the same period jumped from $4.1 billion to $13.8 billion. Servicing volume more than tripled, from $6.4 billion to $22.3 billion.
Chad Overhauser, president of AmeriPro Home Loans, said that his company has grown because of its strong corporate culture that focuses on delivering an exceptional experience to every customer and employee. Overhauser started his mortgage banking career in 2002 and formed AmeriPro in 2003. Since then, the company has grown from one branch and three employees to 29 branches with more than 250 employees. He will become a regional vice president at Guild, 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.”
“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. 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.”
“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. This is an important step in our growth plan.”
Guild offers a wide range of residential mortgage products, with in-house underwriting and funding, which provide consistency and speed throughout the loan process. Its loan professionals can serve the needs of any homebuyer, from helping first-time homebuyers achieve their dreams of home ownership, often through government loan programs, to providing jumbo home loans through its relationship with Mutual of Omaha Bank. Guild also specializes in helping active duty and retired military personnel to secure VA loans, which provide 100 percent financing and flexible qualifying standards.