The agreement comes on heels of Lower's acquisitions of Neat Labs and Movoto — and takes place as mortgage lenders look to real estate brokerages to win more homebuyers
The deal will give Lower greater reach, while also contributing to an 'end-to-end homeownership' platform — increasingly the holy grail of real estate technology
Lower will integrate Neat Labs' technology into its own cloud-based originations platform and onboard co-founder Steve Herschleb as chief technology officer, executives announced Tuesday
The parent company of Veritex Community Bank, which paid $54.9M to acquire a 49% interest in Thrive Mortgage in 2021, expects $25M to $30M loss if planned merger deal closes next year
Lower's 'mortgage as a service' platform lets brands offer digital-first mortgages through application programming interface and no-code solutions