San Diego-based national lender Guild Mortgage has acquired Cherry Creek Mortgage LLC, a privately held Colorado-based lender with 68 branches in 45 states.
Cherry Creek was co-founded by Jeff May in 1987. The company will become a division of Guild, headed by May.
“Guild has a longstanding admiration for Cherry Creek’s approach to business and its accomplishments, and we feel confident our two companies will be able to take advantage of our synergies in each market and do even more for our customers, together,” says Mary Ann McGarry, Guild’s CEO.
“This is a very strategic offensive move for us,” adds May. “Guild’s values, commitment to serving their associates, customers and the industry are perfectly aligned with what we have built over the last 36 years. We believe the combined resources of both companies will make us a force in the marketplace and position our production teams to more readily compete and win for the long term in this challenging market.”
JMP Securities is representing Cherry Creek in the transaction.