
Wholesale and correspondent mortgage firm Lendermac announced it has reached an agreement to acquire Direct Mortgage Corp., a Utah-based lender. The acquisition aims to expand Lendermac’s national presence and strengthen its multichannel platform, leveraging Direct Mortgage’s expertise in conventional and government loan products. Financial terms were not disclosed.

Virginia‑based retail lender City Lending announced its shutdown, ending operations after 11 years. The firm reported $446 million in mortgage origination volume for 2024 and employed more than 220 staff across 29 states, Puerto Rico and D.C. CEO Jorge Campodonico cited...