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The Dallas-based real estate brokerage Redfin has expanded into the home loan business with the launch of Redfin Mortgage.
The new company will focus exclusively on Redfin customers buying homes in the Austin, Dallas, Houston and San Antonio markets. The company plans to begin originations in the first half of this year, and has hired Jason Bateman, formerly executive vice president of mortgage operations at BBVA Compass, to lead the effort.
“Redfin Mortgage will put the customer first through a combination of technology and personal service,” said Redfin CEO Glenn Kelman. “This approach to mortgage is the same that has made us successful serving more than 75,000 customers buying and selling homes. We’ll meet customers through digital channels to lower customer acquisition costs. We’ll hire our own mortgage advisers with incentives that reward service, not just sales, so customers get advice they can trust. We’ll track every aspect of the closing in a single system used by mortgage advisers, real estate agents, title experts and the customer so everyone works together on an on-time closing.”