title
October 2018   Volume 44, Number 10      
 

1

Zillow Group Acquires Mortgage Lenders of America

Zillow Group announced it has entered into an agreement to acquire Mortgage Lenders of America. Founded in 2000, Mortgage Lenders of America is a national mortgage lender headquartered in Overland Park, Kan. The deal is expected to close during the fourth quarter of 2018.

According to Zillow, the acquisition will help the company streamline and shorten the home-buying process for consumers who use Zillow Offers to purchase homes. While Mortgage Lenders of America will continue with its current business, which is providing mortgages to consumers, the company will also now participate in Zillow’s mortgage marketplace.

“Getting a mortgage can be the toughest, most painstaking and time-consuming part of the home-buying process,” said Greg Schwartz, president of media and marketplaces at Zillow Group. “Now that we are buying and selling homes through Zillow Offers, we believe that having our own mortgage origination service as an option for consumers will allow us to streamline the process for people who buy a Zillow-owned home.”

Schwartz also believes that the acquisition will help expand Zillow’s offerings to its partners which include real estate brokers and third-party lenders.

Following the acquisition, Mortgage Lenders of America will continue to operate from its Kansas headquarters.

[return to top]

 

 

 

 

In this issue:

Home Sales to International Buyers Decline, Says NAR

25 Percent of U.S. Homes Now Equity Rich

Buyers Seek Out Smaller Markets As Home Prices Climb in Midsize Cities

New Home Prices Have Dropped to Lowest Levels Since February 2017

Pending Home Sales Increase 0.9 Percent in June

Construction Spending Increased 0.4 Percent From May to June

Mortgage Rates Make a Comeback in Critical Moment for Housing

Weekly Mortgage Applications Decline as Home Prices Rise

Zillow Group Acquires Mortgage Lenders of America

How to Become a Neighborhood Expert and Build a Strong Real Estate Business

 


The information presented and conclusions within are based upon our best judgment and analysis. It is not guaranteed information and does not necessarily reflect all available data. Web addresses are current at time of publication but subject to change. Smarts Publishing does not engage in the solicitation, sale or management of securities or investments, nor does it make any recommendations on securities or investments. This material may not be quoted or reproduced in any form without publisher's permission. All rights reserved. ©2017 Smarts Publishing. Tel. 877-762-7877. smartspublishing.com