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RMS to Merge with Guild Mortgage May 13, 2021 | Reprints | Print The Massachusetts mortgage industry is set to gain a new face when Residential Mortgage Services merges with Guild Mortgage later this year. The two companies announced the largely-cash $197 million deal earlier this week, which will see Guild buy RMS outright via share purchases, although senior RMS leaders will see some of their shares traded in for Guild ones based on a formula that includes the average closing price of RMS sales as the closing date nears. Current RMS shareholders will also receive a three-year earnout based on net income from RMS branch locations. ....
Press release content from Business Wire. The AP news staff was not involved in its creation. Guild Holdings Company Strategically Expands Into Northeast With Acquisition of Residential Mortgage Services Holdings May 11, 2021 GMT SAN DIEGO (BUSINESS WIRE) May 11, 2021 Guild Holdings Company (“Guild” or the “Company”) (NYSE: GHLD), a growth-oriented mortgage company that employs a relationship-based loan sourcing strategy to execute on its mission of delivering the promise of homeownership, and Residential Mortgage Services Holdings, Inc. (“RMS”) today announced the signing of a definitive merger agreement under which Guild will acquire RMS. Guild expects the transaction to be accretive to 2021 earnings per share and to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions. ....
By Staff A San Diego company announced Tuesday it plans to acquire South Portland-based Residential Mortgage Services Inc. for nearly $200 million. Guild Holdings Co. (NYSE: GHLD), a mortgage lender and servicer with operations in 31 states, has inked an agreement to purchase RMS and expects the deal to close during the third quarter of this year, according to a news release. RMS is a retail mortgage company with over 850 employees and 70 offices in 14 northeastern states. Besides its South Portland base, the firm has Maine locations in Auburn, Augusta, Bangor, Brunswick, Falmouth and Kennebunk. Upon completion of the deal, the RMS management team, including President and CEO Jim Seely, would continue to run the business, Guild said in the release. ....
Fireline Episode 02: The Big Burn In 1910, a wildfire the size of Connecticut engulfed parts of Montana, Idaho and Washington. Ed Pulaski and his crew were among the many people trapped by the enormous blaze. The Big Burn, as it came to be known, helped propel a culture of fire suppression that still persists in many forms. What does that massive fire mean for the way our society deals with the wildfires of today? Jim See is the president of the Pulaski Project in Wallace, Idaho. Steve Pyne is a fire historian, and emeritus professor at Arizona State University. Andrew Larson is a forest ecologist, professor at the University of Montana, and director of the Wilderness Institute. ....
On the Town: Check out Moving Vision, art of ’60s, ’70s By: Lillie-Beth Brinkman The Journal Record February 22, 2021 Lillie-Beth Brinkman In spite of the recent snowstorm and record-cold temperatures in Oklahoma last week, it is an exciting time to visit one of Oklahoma City’s museums. Three of them launched interesting and major exhibits in the last week that you won’t want to miss. I have already written about Oklahoma Contemporary Arts Center’s “Ed Ruscha: OKLA” exhibit and will be writing more about the fascinating “Spiro and the Art of the Mississippian World” at the National Cowboy and Western Heritage Museum. ....