The acquisition of the Aurora, Illinois-based, family-owned lender marks San Diego-based Guild Mortgage's fourth expansion since December, according to an announcement on Monday
Schmidt was Mary Ann McGarry's 1st hire at Guild in 1985, and the two led a 2007 management buyout of the company from founder Martin Gleich
Acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states, adds reverse loan options
Guild's CashPass program is available for primary residences, second homes or investment properties, with down payments depending on occupancy
The deal to buy South Portland, Maine-based Residential Mortgage Services for $197M is Guild's seventh acquisition since 2008