Highlands Residential Mortgage acquires Equitable Mortgage, enters Ohio market

Highlands Residential Mortgage has expanded its Midwestern footprint through the acquisition of Columbus, Ohio-based The Equitable Mortgage Corp. This strategic move provides the Texas-based lender with an established presence in the resilient central Ohio purchase market and parts of Florida. The transaction reflects a broader industry trend where mortgage firms utilize mergers and acquisitions to achieve scale amid a challenging environment of high interest rates and compressed margins.

Highlands Residential Mortgage, headquartered in Allen, Texas, has finalized its acquisition of Columbus-based The Equitable Mortgage Corp., marking a significant entry into the Ohio residential market. Founded in 1995, Equitable Mortgage brings a legacy of over $6 billion in lifetime residential loan funding and a specialized focus on the central Ohio and Florida markets. According to Modex data, Equitable produced $245.67 million in volume in 2025 and has generated $72.03 million year-to-date in 2026, supported by a team of 18 producing loan officers.

Leadership from both organizations emphasized that the merger is built on a shared commitment to relationship-driven lending. Brian Bennett, president of Highlands Residential Mortgage, highlighted Equitable’s three-decade track record and the rare quality of its long-tenured staff as primary drivers for the deal. Bruce Calabrese, CEO of Equitable Mortgage, framed the acquisition as a necessary step to gain the scale and technological tools required in the modern mortgage landscape while preserving the company’s local service model. Corey Caster, executive vice president and chief production officer at Highlands, added that the Equitable team’s established business will serve as a foundation for future regional growth.

The transaction underscores a prevailing trend in the residential mortgage sector where lenders prioritize mergers, acquisitions, and branch roll-ins over de novo expansion to combat high interest rates and thin profit margins. With refinance volumes remaining low, scale has become a vital component for retail-focused lenders. Highlands Residential Mortgage, which was established in 2010, currently maintains a presence in 17 states with licenses in 44. The company reported a total production volume of $2.26 billion in 2025 and has already reached $755.98 million in volume for the current year, utilizing its 193 producing loan officers to maintain a national distribution footprint.