First Federal Bank to Sell Third Party Origination Division to Mortgage Forward

Created at 6 Jun · 01:59 UTC1 source

IN SHORT

First Federal Bank and Mortgage Forward have signed an agreement for Mortgage Forward to acquire First Federal's Third-Party Origination division. The deal is expected to close in the third quarter of 2026.

Key Numbers

Q3 2026expected closing quarter

Who's Involved

First Federal Bank

seller of Third Party Origination division

Mortgage Forward

acquirer of Third Party Origination division

Great Lakes Credit Union

parent company of Mortgage Forward

Key facts

First Federal Bank and Mortgage Forward have signed a definitive agreement.
Mortgage Forward will acquire First Federal's Third-Party Origination division.
The transaction is expected to close in the third quarter of 2026.

First Federal Bank, based in Florida, and Illinois-based Mortgage Forward, a CUSO within the Great Lakes Credit Union Family of Companies, announced on June 5, 2026, that they have entered into a definitive agreement. Under this agreement, Mortgage Forward will acquire First Federal's Third-Party Origination (TPO) division. The transaction is anticipated to be finalized in the third quarter of 2026.

↳ Why This Matters

This acquisition signifies a strategic move for both institutions, potentially impacting the mortgage origination landscape and the services offered by both First Federal Bank and Mortgage Forward.

FREQUENTLY ASKED

The parties involved are First Federal Bank, the seller, and Mortgage Forward, the acquirer.

Mortgage Forward is acquiring First Federal Bank's Third-Party Origination (TPO) division.

The transaction is expected to close in the third quarter of 2026.

What Happens Next

01The transaction is expected to close in the third quarter of 2026.

First Federal Bank to Sell Third Party Origination Division to Mortgage Forward

PiQ Daily

Key facts

First Federal Bank to Sell Third Party Origination Division to Mortgage Forward

PiQ Daily

Key facts

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