Industry Watch: Guild acquires Cherry Creek, a lifeline for First Republic and more

Kind Lending announced the formation of a new joint venture mortgage company, Results Home Mortgage, in partnership with RE/MAX Results. Specializing in residential purchase mortgage lending, Results Home Mortgage is headquartered in Eden Prairie, Minnesota, and will focus on serving borrowers in Minnesota and Wisconsin.

Guild Mortgage acquired Cherry Creek Mortgage, a Colorado-based lender with 68 branches in 45 states. Upon completion of the transaction, Cherry Creek will become its own division of Guild, headed by Cherry Creek co-founder Jeff May.

First Republic Bank is receiving a life preserver from 11 other banks in the form of $30 billion in deposits, according to a joint statement from several government officials. Amid a run of regional bank collapses, Bloomberg reported this week that San Francisco-based First Republic — one of the largest jumbo mortgage lenders in the country — was looking into “strategic options” to shore up liquidity, including a possible sale.

Nations Lending announced the opening of its newest branch in St. Louis, with Steve Dieckhaus named as area sales manager.


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