Union Home Mortgage Corp. (UHM), a full-service retail, wholesale, and consumer-direct independent mortgage banking company, recently announced its acquisition of Kalamazoo, Mich.-based Amerifirst Home Mortgage.
Terms of the transaction were not disclosed.
The combination will expand UHM’s national reach in key markets and bring together two leading USDA mortgage lenders, the company said.
“On behalf of all our partners, I am excited to welcome the wonderful mortgage professionals of Amerifirst to the world-class platform of growth at UHM,” said Bill Cosgrove, president & CEO of Union Home Mortgage. “Our company lives by the mantra of ‘Promises Kept,’ which includes promises to our customers, communities, and colleague partners. Today, I am thrilled to expand the reach of that promise further.”
Amerifirst was founded in 1983 by Mark Jones and David Gahm. It has grown from a single branch in Kalamazoo to more than 300 licensed loan consultants across the country, with concentrations in California, Florida, Michigan, North Carolina, and Ohio.
“We founded this company to make a meaningful difference in the lives of customers, team members, and our communities. This partnership gives us the scale and ability to make an impact like never before,” Jones and Gahm said in a joint statement. “UHM has built a platform that is really unique and powerful in our industry. Coming together made all the sense in the world.”
UHM is a nationally recognized top 50 mortgage lender with more than $13 billion in responsible lending each year, the company said. Amerifirst will add to that; it originated $2.8 billion in 2021 and $3.3 billion in 2020.
UHM said the combined company will have unique expertise and scale with the USDA Rural Development Single Family Housing Guaranteed Loan Program, which provides eligible applicants mortgage options requiring no money down when purchasing a primary residence. UHM has been the top-ranked USDA home lender in its home state of Ohio for three straight years. Amerifirst is the No. 1 ranked lender in Michigan.
UHM has over 150 branches across the U.S. and is an approved direct lender of Fannie Mae, Freddie Mac, FHA, VA, USDA, and other conforming and non-QM loan products.
