Move aligns with the company's expansion plans
Lower, a mortgage servicing and technology provider has announced its acquisition of Universal Lending Home Loans’ retail and wholesale channels.
The Denver-based nonbank will now become a division of Lower as part of its strategic expansion.
“Welcoming Universal to the Lower Family of Companies is a significant win for all,” said Lower co-founder and managing partner Mike Baynes. “The addition aligns with our expansion plans, adding over 60 loan officers and establishing a strong presence in both the Colorado and Montana markets.”
According to a media release, the wholesale division will operate under Lower’s PowerTPO brand. Universal Lending president TJ Kennedy will head both the retail and wholesale units.
“This strategic move allows us to take an offensive approach with the opportunities of today’s market,” Kennedy said. “We have found a partner in Lower that matches our values and commitment to taking care of our customers and puts us in a position of strength moving forward.”
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