Western Alliance Acquiring AmeriHome Mortgage

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Western Alliance Bancorporation has inked an agreement to acquire Aris Mortgage Holding Co. LLC, the parent company of AmeriHome Mortgage Co. LLC, for an estimated purchase price of $1 billion.

Based in Thousand Oaks, Calif., AmeriHome is the nation’s third largest correspondent mortgage acquirer, purchasing approximately $65 billion in conventional conforming and government insured originations during 2020 from its network of independent mortgage originators and managing a $99 billion mortgage servicing portfolio as of Dec. 31, 2020.

The company has relationships with over 700 independent correspondent mortgage originator clients, including independent mortgage bankers, community and regional banks, and credit unions of all sizes.

Western Alliance says the addition of AmeriHome extends its national commercial businesses with a complementary, low-risk national mortgage franchise.

“We look forward to maximizing the strategic and financial opportunities created by partnering with AmeriHome, which has been a valued client of Western Alliance Bank for years,” says Ken Vecchione, President and CEO of Western Alliance. “Acquiring this differentiated, high-performing mortgage platform provides a powerful growth engine and expands mortgage offerings to existing clients that give us flexible levers to drive consistent returns throughout market cycles.”

After the acquisition closes, AmeriHome will operate under its current brand and will continue to be led by Jim Furash, its current president and CEO.

“Joining Western Alliance Bank is a terrific opportunity to accelerate our own strategic objectives and pathway to growth, with an outstanding partner we know very well,” Furash says.

Photo: Ken Vecchione

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