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Redfin will buy Bay Equity Home Loans for $135M in bid to boost mortgage business
(GeekWire Photograph / Nat Levy) Seattle serious estate big Redfin announced that it will pay an approximated $135 million in income and stock to order Bay Equity House Financial loans, a Bay Place-centered home loan loan company that is energetic in 42 states and employs 1,200 persons. The deal really should supply a improve to Redfin’s lending organization. Bay Fairness closed $8.5 billion in financial loans very last year and is virtually 10X the measurement of Redfin Home loan. It has also produced positive internet cash flow each of the past a few many years. Redfin will consolidate its Redfin Mortgage operations underneath Bay Fairness, which will keep its identify…