- The acquisition is subject to customary closing conditions and certain third-party approvals, including approval by Fannie Mae and Freddie Mac.
- Zions will now be able to offer its clients an expanded product suite through its participation in a variety of important lending programs, including the Fannie Mae DUS program.
Zions Bancorp (ZION) on Monday said that it has entered into a definitive agreement to acquire the agency lending business of Basis Multifamily Finance I, LLC, a subsidiary of Basis Investment Group, which includes its experienced team, access to agency lending programs, and all associated mortgage servicing rights.
Shares of Zions jumped during extended hours of trading and was up 3% at the time of writing. The acquisition is subject to customary closing conditions and certain third-party approvals, including approval by Fannie Mae and Freddie Mac.
The company did not disclose the value of the deal.
Deal Details
In connection with the acquisition, Zions and Basis have entered into a strategic partnership that will expand each respective company's real estate financing and capital formation efforts.
“The acquisition of Basis' agency lending business will strategically expand our capabilities to meet the needs of our commercial real estate customers. This is a natural, customer-driven evolution of our capital markets strategy, which continues to be a meaningful growth engine for the company,” said Harris Simmons, Chairman and CEO of Zions Bancorporation.
“This transaction is a great result for all stakeholders, enabling the agency platform to scale while driving financing and investment activity across Basis' diversified Funds platform through our ongoing partnership with Zions,” said Tammy K. Jones, CEO and Founder of Basis.
By acquiring Basis' agency lending business, Zions will be able to offer its clients an expanded product suite through its participation in a variety of important lending programs, including the Fannie Mae DUS program, and the Freddie Mac Optigo Conventional and Small Balance Loan programs.
Retail Reaction
Retail sentiment around ZION trended in ‘neutral’ amid ‘normal’ message volume.
Shares in the company have fallen 6% so far in 2026.
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