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Upwards of 1,000 Academy Mortgage employees will make the transition to Guild, including more than 600 originators, Guild said in announcing the sixth acquisition in three years.
Academy Mortgage Corporation agreed to settle allegations that it improperly originated and underwrote mortgages insured by the FHA.
Mortgage company Academy Mortgage Corporation (Academy), based in Draper, Utah, has agreed to pay $38.5 million to resolve allegations it violated the False Claims Act by improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA).
Back in 2018, Trump Administration officials attempted to have the case dismissed but the federal court system rejected its petitions.