Mortgage Forward to acquire First Federal Bank’s TPO division

Mortgage Forward announced Friday that it has agreed to acquire the third-party origination (TPO) division of First Federal Bank, including QRL Financial, in a deal the companies say will expand Mortgage Forward’s national mortgage lending platform and broaden its product offerings.

The companies confirmed that they have signed a definitive agreement for the acquisition, although the financial terms of the transaction were not disclosed. The deal is expected to close in the third quarter of 2026.

First Federal Bank, based in Florida, said the sale aligns with its strategic focus on efficiency and growth in its retail mortgage business.

“We are pleased that this agreement allows our talented and dedicated team supporting TPO clients and institutions to continue to flourish,” John Medina, president and CEO of First Federal Bank, said in a statement.

Mortgage Forward, headquartered in Illinois and a part of the Great Lakes Credit Union family of companies, said the acquisition will strengthen its ability to serve third-party origination clients through expanded technology capabilities and a broader range of mortgage products. The company said it plans to continue investing in digital mortgage solutions and credit union service organization expertise.

“This acquisition strengthens Mortgage Forward’s commitment to delivering innovative mortgage options for TPO clients,” Mortgage Forward President Chip Adkins said in a statement. “We are excited to welcome the talented First Federal Bank team and build on their strong foundation for future growth.”

The acquisition also supports Mortgage Forward’s efforts to expand services for credit unions and mortgage partners nationwide, according to Michael Abraham, chief strategy officer of Great Lakes Credit Union.

“This acquisition aligns with our vision for Mortgage Forward and our commitment to supporting credit unions and all mortgage partners nationwide,” Abraham said. “Together, we will expand our capabilities while maintaining the service and relationships our partners value.”

This article was written by Sarah Wolak and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication.