Zillow gets into the business, acquires Lenders of America

Zillow, the publicly traded real estate portal and lead generation service, has acquired Mortgage Lenders of America. This is Zillow’s first move into originating mortgages. Until now, the company’s focus in this space was on providing home buyers with quotes from a variety of third-party lenders. The financial details of the transaction were not disclosed. Mortgage Lenders of America (MLoA) is a privately held online lender based in Kansas. It will continue to operate as usual and will continue to appear in Zillow’s existing mortgage marketplace, which isn’t going away either.