BrokerageIndustry News

ZipRealty partners with mortgage lender

New American Mortgage loan officers will be present in brokerage offices

Loan officers with mortgage bank New American Mortgage will be present in all ZipRealty company-owned offices in 20 markets around the country under the terms of a strategic alliance between the two companies announced today."New American Mortgage has an agent-centric model and is focused on creating a strong and trusted relationship with the real estate agent first," ZipRealty CEO Lanny Baker said in a statement. "This side-by-side connection and New American’s commitment to industry-leading loan approval turn times will greatly benefit ZipRealty buyers."In announcing second quarter earnings Aug. 8, ZipRealty said it had recently entered into a marketing agreement with Citibank N.A., a subsidiary of Citigroup, "which augments our existing mortgage lender relationship with New American Mortgage."In its subsequent quarterly earnings report, ZipRealty said it terminated a mortgage services marketing agreement with Bank of America in April that had paid the...