SEATTLE and OVERLAND PARK, Kan., Nov. 1, 2018 /PRNewswire/ -- Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and the web, today announced that it has completed its previously announced acquisition of Mortgage Lenders of America, a national mortgage lender, headquartered in Overland Park, Kan.
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."
Mortgage Lenders of America was founded in 2000 and has approximately 300 employees. The company is led by Philip Kneibert. Kneibert will continue to lead the company as vice president and general manager of Mortgage Lenders of America reporting to Greg Schwartz. The company will continue to operate from its Kansas headquarters.
About Zillow Group, Inc.
Zillow Group (NASDAQ:Z) (NASDAQ:ZG) houses a portfolio of the largest real estate and home-related brands on mobile and the web, which focus on all stages of the home lifecycle: renting, buying, selling and financing. Zillow Group is committed to empowering consumers with unparalleled data, inspiration and knowledge around homes, and connecting them with great real estate professionals. The Zillow Group portfolio of consumer brands includes real estate and rental marketplaces Zillow®, Trulia®, StreetEasy®, HotPads®, Naked Apartments®, RealEstate.com and Out East®. In addition, Zillow Group provides a comprehensive suite of marketing software and technology solutions to help real estate professionals maximize business opportunities and connect with millions of consumers. Zillow Offers™ provides homeowners in some metropolitan areas with the opportunity to receive offers to purchase their home from Zillow. When Zillow buys a home, it will make necessary updates and list the home for resale on the open market. The company operates a number of business brands for real estate, rental and mortgage professionals, including Mortech®, dotloop®, Bridge Interactive® and New Home Feed®. The company is headquartered in Seattle, Washington.
Zillow, Mortech, Bridge Interactive, StreetEasy, HotPads, Out East and New Home Feed are registered trademarks of Zillow, Inc. Zillow Offers is a trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, LLC. dotloop is a registered trademark of DotLoop, LLC. Naked Apartments is a registered trademark of Naked Apartments, LLC.
About Mortgage Lenders of America, L.L.C.
Mortgage Lenders of America, L.L.C. (MLOA), is a national provider of online mortgage lending services. The company employs over 300 loan professionals who are trained to help buyers make informed, confident decisions about their mortgage selection – whether it's a first time home purchase, refinance or veteran product. With the ability to handle all aspects of the loan in-house, borrowers can expect a quicker, more efficient path to closing when working with MLOA. This customer-centric approach has earned MLOA industry recognition for customer satisfaction and best-in-class online lending.
Founded in 2000, MLOA is based in Overland Park, Kansas, and is owned by Zillow Group, Inc.
SOURCE Zillow Group, Inc.