Zillow Group Inc., a North American company with a plethora of real estate and home-related brands on both mobile and the internet, has recently announced that it has completed its acquisition of a national mortgage lender, based out of Kansas, Mortgage Lenders of America.
The acquisition of Mortgage Lenders of America will streamline and shorten the home-buying process for consumers who purchase homes through Zillow Offers. This is consistent with Zillow Group's strategy to create better consumer experiences at every stage of the home life cycle.
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.
"Getting a mortgage is often the hardest, most complicated part of buying a home," said Greg Schwartz, president of media and marketplaces at Zillow Group. "We acquired MLOA, which we will rebrand in 2019, so we could streamline, shorten and simplify the home-buying process for consumers who purchase homes through Zillow Offers."
Founded in 2000, Mortgage Lenders of America has around 300 employees, led by Philip Kneibert who will continue to lead the company as vice president and general manager, reporting to Greg Schwartz. The company will also keep its headquarters in Kansas where it will continue to operate.
SOURCE Zillow Group
Edited by V. Haviland
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