A&D Mortgage LLC, the Fort Lauderdale-headquartered non-QM lender, has signed a definitive agreement to acquire the wholesale and non-delegated correspondent mortgage business from Mr. Cooper Group Inc. (NASDAQ: COOP)
Mr. Cooper previously acquired the wholesale and non-delegated mortgage business as part of a separate transaction last November. Employees at Mr. Cooper will be offered the opportunity to join A&D Mortgage when the transaction is complete, which is expected to occur by the end of the first quarter.
The terms of the transaction have not been disclosed. The acquisition expands A&D’s broker network to more than 8,500 partners.
“We took a very careful and measured approach to finding a potential partner to grow our QM business,” said Max Slyusarchuk, CEO of A&D Mortgage. “A&D’s goal is to be an industry leader, and this transaction is a big step forward.” The combined entities funded over $10 billion in originations in 2024.
