Zillow Group is officially a mortgage lender, now that it has completed its acquisition of Mortgage Lenders of America.
The online real estate giant first announced the deal – the terms of which have not been disclosed – in August.
The acquisition will enable Zillow to significantly streamline and shorten the home-buying process for consumers who purchase homes through Zillow Offers, the company says.
Mortgage Lenders of America will continue its current line of business, offering mortgages to consumers and participating in Zillow’s mortgage marketplace.
Owning a mortgage lender will allow Zillow Group to develop new tools and partnership opportunities, including for real estate brokers with existing in-house mortgage operations or mortgage affiliates and our existing mortgage advertisers.
Mortgage Lenders of America was founded in 2000 and has approximately 300 employees.
The company is led by Philip Kneibert, who will continue to serve as vice president and general manager.
Mortgage Lenders of America, which originated 4,400 mortgage loans in 2017, will continue to operate from its Kansas headquarters.
