Western Alliance Bank announced on Feb. 16 a definitive agreement to acquire AmeriHome Mortgage Company, the country’s third largest correspondent lender, for a purchase price of $1 billion in cash. Based in Thousand Oaks, California, AmeriHome purchased some $65 billion in originations in 2020 and, as of Dec. 31, managed a $99 billion servicing portfolio. After the transaction closes, AmeriHome will become a subsidiary of Western Alliance and continue to operate under its current brand, with the additional label of “a Western Alliance Bank company.” Jim Furash, president and CEO of AmeriHome, will continue to lead the company. The acquisition is expected to close in the second quarter.
Propertybase announced on Feb. 16 that it has acquired Cross Media, LLC, the producer of full-suite, mortgage-specific business growth platform Unify. The Unify platform consists of accessories such as a customer relationship management (CRM) system, real-time loan origination system (LOS) integrations, intelligent mortgage inquiry alerts actively mining potential borrower data, marketing automation and more. Financial details of the acquisition were not disclosed.
CoreLogic announced on Feb. 18 that it has launched a new digital title and closing solution, which the company described as the latest enhancement to its “Complete Collateral” end-to-end digital mortgage workflow product. The new addition, according to a statement from CoreLogic, helps lenders accelerate their existing title processes by automating “dozens” of manual steps.