Many of those within the industry have just been waiting for the move to be announced. They knew it was coming but they just didn’t know when.
Well, finally Zillow announced that it completed the acquisition of Mortgage Lenders of America. This represents Zillow’s first step into the lending industry in America.
It’s very apparent that Zillow is looking to leverage its online platform into a number of different verticals in order to reap its broad distribution network.
It seemed to be one of the early groups to provide instant offers to home sellers. That was back in May 2017 when it initiated a home selling business called Zillow Instant Offers.
The program is limited to just a few markets right now but it is probably looking to expand into every available segment of the marketplace.
Zillow not only attracted investors to join it in this initiative but also became an investor itself. Currently, Zillow is directly buying homes from sellers in Atlanta, Denver, Las Vegas, and Phoenix.
With the completion of its acquisition of Mortgage Lenders of America, Zillow is now looking to go beyond just providing listings of potential properties but most likely to be a complete real estate destination.
The Zillow game plan is to help streamline and simplify the home buying and selling process for the consumer looking to purchase homes through Zillow Offers.
Mortgage Lenders of America will continue to provide its line of business, including mortgages to consumers, while participating in Zillow’s mortgage marketplace.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.