EXp World holdings announced Thursday that it has teamed up with mortgage provider Kind Lending to launch a new borrowing platform for consumers.
The new platform is called SUCCESS Lending, placing it under the brand umbrella of SUCCESS Enterprises, a 124-year-old company that eXp acquired last fall. According to a statement from the two companies, the project will “will enlist expert loan officers, currently working with top eXp agents, to provide lending solutions to consumers engaged in the homebuying journey.”
Glenn Sanford, eXp World Holdings founder and CEO, added in the statement that they “are taking a collaborative approach to home lending that will connect an ecosystem of expert real estate and mortgage professionals.”
“Our agents are seeking a synergistic mortgage solution that provides greater efficiencies and clearer communication for their customers,” Sanford continued. “SUCCESS Lending was formed to fill that need.”
The companies described the project as a “joint venture,” meaning SUCCESS Lending is a collaboration between two independent entities and not an acquisition or merger.
EXp World Holdings is, of course, the parent of eXp Realty, the virtual brokerage that has seen rapid growth in recent years. The company has also made a number of acquisitions, including of Showcase IDX and virtual environment maker VirBELA, and recently partnered with business guru Grant Cardone.
California-based Kind Lending was founded in 2019 and according to Thursday’s statement originated close to $4 billion in loans during its first 12 months in business. The company says that it is using “technology and process efficiencies” to “reinvent” the mortgage lending process.
Glenn Stearns, founder and CEO of Kind Lending, expressed excitement about the partnership in Thursday’s statement and said he believes “eXp Realty shares our core values of community and service.”
“We are excited to team up with a company recognized as an industry titan with strong leadership and financial results,” he added. “The cultural fit of our two companies is the foundation of innovating business models and creating a better experience for customers.”