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.
“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.
