Reali, a San Mateo, Calif.-based real estate technology company, has acquired Lenda, an online direct mortgage lender. The financial terms of the transaction were not disclosed.
As part of this acquisition, Lenda’s proprietary technology will be incorporated into Reali’s existing platform under the banner Reali Loans. The new Reali Loans platform is being promoted being user-friendly and absent of origination fees, with competitive rates, fast approvals and speedy closing times. Reali Loans will include refinance loans with fixed or variable rates, jumbo loans up to $3 million, as well as VA and FHA-backed mortgages.
"Our mission and vision is to simplify the home buying and selling experience for our customers by creating transparency and offering multiple services including home loans, to minimize the amount of complexity in today's antiqued real estate process," said Amit Haller, Co-Founder and CEO of Reali. "This acquisition of Lenda into Reali Loans accelerates our company roadmap with goals to vertically integrate all parts of the home buying transaction in the near future and realize our vision for a reimagined real estate experience."