This year has been busy for mergers and acquisitions in the mortgage industry. Some major and minor players have sold stakes in their business, while other prominent players are selling entirely.
Guaranteed Rate Inc. reported on June 13 that the investment from funds affiliated with Thomas H. Lee Partners LP completed a previously announced acquisition of a minority stake in Guaranteed.
No terms were provided about the transaction. Victor Ciardelli, the founder of Chicago-based Guaranteed Rate, is continuing on in his role as president and chief executive officer.
Source: Mortgage Daily