Zillow to Acquire Mortech to Add Professional Services to Zillow Mortgage Marketplace
Today, we’re excited to announce we’ve entered into an agreement to acquire Mortech, a mortgage technology company that provides software tools to mortgage professionals. This acquisition represents a tremendous leap forward in the building of Zillow Mortgage Marketplace.
In 2008, we launched Zillow Mortgage Marketplace as the first lending marketplace that puts the needs of borrowers first. We were the first site to allow borrowers to submit a loan request without being required to share any personal information, and shop and compare rates, loans and fees from hundreds of lenders nationwide, instantly. We set up the system so the borrower contacts the lender — not the other way around. What’s more, we created a lender review system — an industry first — where borrowers could review the lenders based on their service level. Today, we have more than 22,000 lender reviews on the site.
What’s so exciting about today’s announcement is that we are acquiring a company that gives mortgage professionals valuable technology tools to help them better manage their business and serve their customers — ultimately enhancing the consumer experience.
You can read more about the acquisition in our press release today.
We are thrilled to welcome Mortech’s talented team, based in Lincoln, Nebraska, to Zillow.