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March 2024 » thefivestar.com 27 March 2024 I N D U S T R Y U P D A T E actions, examinations, conflicts, and industry trends » Equity, discrimination, deceptive advertising, credit access, offerings, redlining, pricing reviews » Guidance on black box modeling, algorithms, and artificial intelligence Gate House Compliance has also de- veloped a new proprietary management system called Gate House Compliance 365, which offers lenders a comprehen- sive approach for helping navigate the increased scrutiny and risks faced from the array of today's fair lending rules and regulations on a subscription basis. "The 365 in the name refers to the on- going and comprehensive nature of the system's support, even daily, if necessary, that the new firm will provide from our team of senior financial services execu- tives and former regulators," Montgom- ery said. "Our collective team possesses the experience and knowledge needed to deliver results for lenders in their compli- ance ecosystem. Gate House Compliance offers all the tools and services required to provide clients with a strategic process and review regimen that will mitigate regulatory risk." Rounding out the Gate House Compliance team are Liz Scholz, who will serve as a Senior Advisor in com- pliance, risk, and client strategies, and Jack Bobbitt, who will support the firm's operations. Scholz is an industry veteran who served as an executive with the Federal Housing Finance Agency (FHFA) for 12 years, where she led activities in examination, regulatory policy, and board monitoring of Fannie Mae and Freddie Mac. Bobbitt, former Assistant Secretary for Administration at HUD, brings decades of experience in sales, marketing, operations management, and business development. Gate House Strategies partners and former HUD officials Hunter Kurtz, former Assistant Secretary for Public and Indian Housing; Dror Oppenheimer, a 30-year veteran of Fannie Mae; Keith Becker, a 26-year veteran of Freddie Mac; and Michael Marshall, former Acting As- sistant Secretary for Policy Development and Research, will also serve as Partners in Gate House Compliance. GUILD MORTGAGE ACQUIRES ACADEMY MORTGAGE G uild Mortgage has agreed to acquire the retail lending assets of Academy Mortgage Corpora- tion, a privately-held Utah-based lender. Academy Mortgage boasts approxi- mately 200 branches and employs more than 1,000 who will transition to Guild, including more than 600 licensed mort- gage originators. The addition of Academy Mortgage will extend Guild's market share across its national footprint. Academy's loan volume represents an approximate 25% increase in annual origination volume for Guild, based on results from both organizations through Q3 of 2023. Both Guild and Acad- emy Mortgage are licensed to originate loans in 49 states and Washington, D.C. "Guild and Academy share a commitment to the purchase mortgage market and believe in local sales and fulfillment that builds on our customers for life strategy. Our aligned core values attract employees dedicated to serving their communities and delivering on the promise of homeownership," Guild Mortgage CEO Terry Schmidt said. "This transaction represents two like-minded organizations joining forces to continue to grow stronger together. Each acqui- sition we've completed has brought new talent to Guild, making us a better company. We're excited to extend a warm welcome to our new Academy team- mates and build on their talent with the support of Guild behind them." Founded in 1988, Academy Mortgage has earned a reputation as a values-based organization that serves customers, communities, and employees, above all. Academy Mortgage has grown into one of the top independent lenders in the "Homebuyers today are often connecting with the first agent who responds to their online request without understanding how the process works or what the fees are." —Andrew Vallejo, Agent, Redfin Premier