A&D Mortgage has acquired the wholesale and non-delegated correspondent mortgage business from Mr. Cooper Group. The combined entities funded more than $10 billion in originations in 2024.
Mr. Cooper acquired the wholesale and non-delegated mortgage business for $1.3 billion from Flagstar Bank as a separate transaction in November. A&D Mortgage, a leader in non-QM lending, was seeking a potential partner to grow its QM business, according to CEO Max Slyusarchuk.
Get these articles in your inbox
Sign up for our daily newsletter
Get these articles in your inbox
Sign up for our daily newsletter
“A&D’s goal is to be an industry leader, and this transaction is a big step forward,” Slyusarchuk said.
The combined company expands A&D’s broker network to more than 8,500 partners. The wholesale and non-delegated team members at Mr. Cooper will be offered the opportunity to join A&D Mortgage when the transaction is completed. The transaction is expected to close by March 31 of this year.
