Zillow

Online real estate database company Zillow is now set to acquire a mortgage lender in order to simplify the home buying process for consumers who make purchases through its service developing a good relationship with the mortgage lender which makes a plus for its offerings to both customers, real estate brokers and several mortgage affiliates.

Zillow will be snapping up Kansas based Mortgage Lenders of America in a deal now subject to regulatory and customary closing conditions in what marks its 12th acquisition so far with financial terms of the deal currently undisclosed.

“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”

“At Mortgage Lenders of America, we are focused on helping home buyers make informed, confident decisions about their mortgage selection,” said Philip Kneibert, President of Mortgage Lenders of America. “We are excited to be joining Zillow Group and look forward to working together to develop an innovative new mortgage experience to better serve buyers.”

Mortgage Lenders would still continue to provide services to other customers apart from Zillow’s but with a deepened partnership with the real estate database company while it continues to operate from its Kansas headquarters.

Zillow’s consumer brands handled 23 million loan information requests last year alone with Zillow’s advertising partners important to fulfilling the needs of its consumers. Mortgage Lenders of America
stands as an existing advertising client with 4,400 mortgage loans originated from its platform.

This leaves space for other Mortgage advertising partners who will continue to make use of its platform to reach out to more consumers.

Mortgage Lenders of America’s President Philip Kneibert will now take the position of General Manager under Zillow while reporting to Greg Schwartz.

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