Carrington Holding Company has entered into an agreement to acquire Reliance First Capital, LLC, from Tiptree Inc., adding a direct-to-consumer retail channel to create a more balanced, competitive and resilient mortgage platform.

ANAHEIM, Calif.--(BUSINESS WIRE)--

For more than 22 years, Carrington Holding Company (Carrington) and its affiliated companies have been proud to provide diverse products and services to homeowners and investors across nearly all aspects of single-family residential real estate transactions in the United States. On Oct. 31, 2025, Carrington entered into an agreement to acquire Reliance First Capital, LLC (Reliance), from Tiptree Inc., a holding company that combines insurance operations with investment management expertise.

“Together with our existing retail recapture, wholesale and correspondent businesses, our agreement to acquire Reliance First Capital looks to add a direct-to-consumer channel, making our mortgage platform more balanced, more competitive and more resilient,” said Andrew Taffet, Chief Executive Officer of The Carrington Companies.

Founded in 2008 and headquartered in Melville, NY, Reliance is a well-respected, fully integrated direct-to-consumer mortgage origination platform serving homeowners nationwide. With 315 employees – including more than 150 loan officers and sales managers – in six call centers and a proprietary technology platform, Reliance originates approximately $1 billion in mortgages each year across FHA, VA, USDA, agency, non-agency/non-QM and second-lien products. In addition, Reliance brings a servicing portfolio of more than 16,000 customers and $3 billion in unpaid principal balance, which will move onto Carrington’s platform once the transaction closes.

“At Reliance First Capital, we look forward to joining the Carrington platform,” said Hugh Miller, President and Chief Executive Officer of Reliance First Capital. “Carrington’s broad mix of businesses will help us to continue to grow and execute our mission to help homeowners and prospective homeowners receive the right mortgage for their personal financial goals.”

Carrington’s assessment of Reliance included recognition of the company’s proven origination history and credit performance across multiple market cycles, as well as its proprietary, fully integrated retail loan origination system featuring CRM, loan management, a pricing engine, workflow automation, compliance controls, field-level security and AI-powered functionality. Reliance also possesses a substantial infrastructure and a direct-to-consumer model designed to support significant growth and top-tier mortgage servicing rights (MSR) recapture. The company’s compelling financial profile shows a history of low leverage; a strong balance sheet supported by warehouse, MSR credit facilities and secondary marketing relationships; and respectable earnings growth.

“Our agreement with Tiptree to incorporate the employees and capabilities of Reliance First Capital into our family of companies is much more than an acquisition,” said Taffet. “It’s an important investment in the future of The Carrington Companies.”

Piper Sandler & Co served as exclusive financial advisor to Reliance as part of the acquisition.

The Carrington Companies

Carrington is a holding company whose primary businesses include asset management, mortgages and real estate transactions. Collectively, the businesses are fully integrated, and provide a broad range of real estate services encompassing nearly all aspects of single-family residential real estate transactions in the United States. To read more visit: www.carringtonhc.com.

Through its collective associates made up of Carrington leaders and employees, the company’s nonprofit organization, Carrington Charitable Foundation, contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs it supports through specific fundraising efforts, please visit: carringtoncf.org.

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Source: Carrington Holding Company