Multi-channel lender Open Mortgage has acquired Premier Home Mortgage, a deal expected to add around $300m in loan value to the company.
The acquisition will expand Open Mortgage’s reach to markets that it does not already operate in in Iowa, Montana, South Dakota, and Wyoming. It already has 79 offices across 22 states and operations centers in Austin and Atlanta.
"Premier Home Mortgage's strong culture and rural footprint complements what we've built at Open Mortgage. Together, we will continue to focus on delivering exceptional experiences to every customer and employee," said Scott Gordon, Founder and CEO of Open Mortgage.
Premier specializes in home financing in rural and small-town America, and is currently led by Russell Allgier as CEO who will become Regional Branch Manager at Open Mortgage, leading the South Dakota and Montana markets.
“Our owners, loan originators, and support team members whole-heartedly believe that our clients become part of our family. In 'doing our jobs' we are helping our family members step into the next chapter of their lives,” said Allgier. “We believe that this commitment will only be stronger as part of Open Mortgage, while bringing new technology, a wider digital presence and cutting-edge products to our markets.”