Northpointe Bancshares, Inc. (NYSE: NPB) announced on October 28, 2026, that it has entered into a definitive purchase and lease assumption agreement with CMG Mortgage Inc. to sell the company's distributed retail and consumer direct mortgage origination channels, known as the Mortgage Origination Channels.
The agreement was executed on October 26, 2026, and follows a non-binding letter of intent disclosed in the company's October 20, 2026 earnings release. Under the terms of the deal, CMG will pay Northpointe Bancshares a fee of 15 basis points (0.15%) on any first-lien mortgage originations closed through these channels until December 31, 2028. Additionally, CMG will assume any leases associated with the Mortgage Origination Channels, where possible.
The transaction is expected to be completed by November 30, 2026, subject to customary closing conditions, representations, warranties, covenants, and termination rights. A copy of the press release announcing the agreement is attached as Exhibit 99.1 to the company's Form 8-K filing.
