National Mortgage News: Academy Mortgage sold for $13.4 million — is that too low?

Guild Mortgage acquired Academy Mortgage’s branches and loan originators for $13.4 million in cash, the mortgage lender disclosed in a filing with the Securities and Exchange Commission.

Apart from the immediate monies, Academy’s owners have the opportunity to receive payments based on the performance of the acquired branches in the future, the filing published March 14 said.

Though some industry stakeholders were shocked at the seemingly low price tag, most have said Academy’s owners walked away with a good deal, while Guild has slightly upped its future risk tolerance.

Garth Graham, senior partner at STRATMOR Group, pointed out Guild did not pay for the entirety of Academy, just for its branches, which makes a huge difference in understanding the deal …

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