First Federal Bank, headquartered in Florida, and Mortgage Forward, in Illinois, jointly announced today that they have signed a definitive agreement for Mortgage Forward to acquire First Federal’s Third-Party Origination (TPO) division, including QRL Financial.
The TPO division will augment Mortgage Forward’s long-term strategy to expand its national mortgage lending platform and strengthen support for clients seeking competitive, borrower-focused mortgage solutions. Through the acquisition, the division will have additional resources to continue and expand support for new and existing clients.
“We are pleased that this agreement allows our talented and dedicated team supporting TPO clients and institutions to continue to flourish,” said John Medina, President and CEO of First Federal Bank. “First Federal’s 2026 strategic plan emphasizes efficiency and execution which includes a strong commitment to the retail mortgage market. This agreement allows us to hone our focus.”
With the acquisition of the TPO group, Mortgage Forward will better serve TPO clients by offering additional technology and expanded products. Mortgage Forward will continue to invest in digital solutions coupled with CUSO expertise.
“This acquisition strengthens Mortgage Forward’s commitment to delivering innovative mortgage options for TPO clients. We are excited to welcome the talented First Federal Bank team and build on their strong foundation for future growth,” said Chip Adkins, President of Mortgage Forward.
With growth-oriented leadership, the company and its new division will continue to be recognized as best-in-class in the industry.
“This acquisition aligns with our vision for Mortgage Forward and our commitment to supporting credit unions and all mortgage partners nationwide. Together, we will expand our capabilities while maintaining the service and relationships our partners value,” says Michael Abraham, Chief Strategy Officer of Great Lakes Credit Union.
The parties anticipate this transaction to close in the third quarter of 2026.