Guild Mortgage acquired First Centennial Mortgage, a privately held residential mortgage lender headquartered in Illinois with branches predominantly located in the Midwest. First Centennial Mortgage was founded by brothers Steven and David McCormick in 1995. The terms of the acquisition were not disclosed.
Nations Lending announced the opening of its newest branch in Minneapolis. Scott Miller, an industry professional with more than 35 years of experience, joined the company as the branch manager.
Spring EQ, a provider of home equity financing solutions, announced that it has entered into a definitive agreement to be acquired by an affiliate of alternative investment firm Cerberus Capital Management. The transaction is expected to close in the fourth quarter of this year.
CV3 Financial Services announced its official launch of the company. CV3 is a private lender that provides financing for fix-and-flip and rental properties to real estate investors in more than 20 states. The company was founded by William J. Tessar, former president of Civic Financial Services.