After making multiple acquisitions earlier this year, Guaranteed Rate is at it again. This time around, the target is a leading lender in Kansas.
During February, the Chicago-based company disclosed that it had acquired the assets of Scottsdale, Ariz.-based Sun State Home Loans.
In addition, the announcement indicated that Guaranteed also acquired the assets of Denver-based Nationwide Direct and Ann Arbor, Mich.-based Arbor Mortgage.
On Monday, Guaranteed said that it has agreed to acquire the assets of FirsTrust Mortgage.
Based in Overland Park, Kan., FirsTrust was established more than two decades ago.
The company is owned by FirsTrust Chief Executive Officer Mark McDougald and Craig Miller, according to its LinkedIn profile. Both host the nationally syndicated radio show, Life As You Own It.
McDougald noted in the statement that the move will cut down on administrative tasks for the FirsTrust team.
“FirsTrust has been one of the top lenders in the Kansas City area since its founding more than 20 years ago,” today’s announcement stated. “It has consistently been one of the top 10 lenders by volume in the Kansas City metro and does business in seven states. FirsTrust is also a three-time honoree on the Inc. 5000 list of fastest growing companies, and have become one of the most recognized mortgage banking brands in their market.”
Terms and timing of the deal weren’t disclosed in the press release, but the FirsTrust website indicates that it is “now Guaranteed Rate.”