Key facts
- Union Home Mortgage Corp. (UHM) acquired AmeriTrust Mortgage Corp. in an asset deal.
- The acquisition is expected to expand UHM's footprint in the non-qualified mortgage (non-QM) market.
- Financial terms of the deal were not disclosed.
- AmeriTrust produced $913 million in mortgages in 2025, including $250 million on the wholesale side.
- UHM anticipates onboarding around 200 AmeriTrust employees.
- The deal could increase UHM's non-QM loan volume to 15%-20% of its total volume within the first year.
Union Home Mortgage Corp. (UHM) has acquired the assets of AmeriTrust Mortgage Corp. in an asset deal that closed in 45 days, a move designed to significantly expand UHM's presence in the non-qualified mortgage (non-QM) market. Financial terms of the transaction were not disclosed.
UHM CEO Bill Cosgrove stated that the acquisition primarily involves AmeriTrust's retail lending assets, with no servicing component included. He noted the challenging market conditions characterized by record-low gross margins and industry overcapacity, predicting continued consolidation within the mortgage sector. Cosgrove highlighted UHM's strategy as a safe and aggressive mortgage banker that aligns well with the current market.
California-based AmeriTrust operates as a multichannel lender with 92 sponsored loan officers across five branches. In 2025, it produced $913 million in mortgages, with $250 million originating from its wholesale division. UHM anticipates bringing approximately 200 AmeriTrust employees, including loan officers, into its fold, with an estimated 20 to 25 overlapping roles. UHM currently employs 824 sponsored loan officers across 192 branches.
Ohio-based UHM ranked as the 34th-largest mortgage lender in 2025, with $11.5 billion in production, split evenly between retail and wholesale channels. The company also operates a consumer direct channel and maintains a $23 billion servicing portfolio. UHM's appetite for M&A was signaled by the hiring of Renee Hildebrand in February to explore new opportunities. This acquisition follows previous UHM deals, including Nations Reliable Lending, Amerifirst Home Mortgage, and Sierra Pacific Mortgage Co.
Cosgrove projected that the AmeriTrust acquisition could elevate UHM's trailing 12-month production to over $20 billion. Furthermore, he estimated that the transaction could increase non-QM loans to represent 15% to 20% of UHM's overall volume within the first year. AmeriTrust had previously focused on the non-QM sector, offering agency and government lending products. Shea Pallante, AmeriTrust's Chief Revenue Officer, joined from Brokers First Funding, a non-QM wholesale lender, and had expressed plans for expansion.