Union Home CEO expects more M&A after AmeriTrust deal

The addition of the assets of AmeriTrust Mortgage will allow Union Home Mortgage to expand its ability to produce non-qualified mortgages, CEO Bill Cosgrove said.

The transaction was first reported by HousingWire. Financial details were not disclosed.

This is the latest mortgage company buy for Union Home. In September, it purchased the origination assets of Sierra Pacific Mortgage. Earlier in 2025, Nations Reliable Lending of Houston was added. Amerifirst Mortgage, a Kalamazoo, Michigan-based firm, was bought in December 2022.

AmeriTrust's staff are "exceedingly knowledgeable" about non-QM, an area which has seen strong growth so far this year. Bank of America Securities predicts $175 billion this year of non-QM originations, with $100 billion making it into securitizations, based on year-to-date volume figures as of late June. This compares with $100 billion of non-QM production of which $80 billion was securitized during 2025.

But it was the ability for Union Home to more than double its non-QM volume, to bring it "right on the doorstep" to the securitization market, which was the driver of this deal, Cosgrove said. AmeriTrust is active in the retail and wholesale channels.

"For a company like Union Home, this really rounds us out between agency non-QM," Cosgrove said. "It rounds us out between retail and wholesale, so this is an exciting fit."

AmeriTrust's website lists offices in Irvine, California and Flower Mound, Texas. It has 92 sponsored mortgage loan officers and was formed in 1986, according to the Nationwide Multi-State Licensing System.

Besides the non-QM, AmeriTrust does some agency lending, and Union Home likes the balance it has between the products. The acquisition will position Union Home to do a total annual run rate of $20 billion, Cosgrove added.

The assets being acquired include a piece of proprietary software, the office as well as the people, including the AmeriTrust executives.

No servicing is part of the transaction.

The broader industry picture, said Cosgrove, a past chairman of the Mortgage Bankers Association, is "the market is continuing to consolidate. Margins have not recovered, gross margins, which tells us there is still too much capacity in the business."

With the leaner months of the fall and winter around the corner, the mortgage business will continue to consolidate and "Union Home will continue to be a part of it," he added.