Mutual of Omaha Mortgage has acquired Keller Mortgage for an undisclosed amount, according to an announcement on Monday. Keller Williams will retain an ownership stake in the company.
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Mutual of Omaha Mortgage has acquired Keller Mortgage for an undisclosed amount, it was announced Monday during Keller Williams’ annual Family Reunion.
With the deal, Keller Mortgage will become a Mutual of Omaha Mortgage subsidiary and operate alongside MOM’s existing forward and reverse mortgage divisions.
Keller Williams will retain an undisclosed ownership stake in Keller Mortgage, and current leadership will retain their positions within the company, a KW spokesperson confirmed.
Gary Keller | Credit: KW
“We’re excited to announce how our two leading brands are coming together,” Keller Williams co-founder and Executive Chairman Gary Keller said in a statement on Monday. “Our KW customers will have access to an even more comprehensive slate of mortgage services from a trusted brand with more than a century of business experience. It’s truly a win-win for all involved.”
Keller Williams launched Keller Mortgage in 2005, hiring a small crew of loan officers and staff members to operate out of its headquarters in Dublin, Ohio.
A historic drop in mortgage rates ushered in a period of record growth for the company in 2021, with the company doubling its payroll from 530 employees in June 2020 to 1,000 employees in May 2021.
However, the company quickly had to reverse course as the Federal Reserve began raising interest rates to slow inflation and stave off the risk of a recession. The company laid off 150 junior employees in October 2021, with two more rounds of layoffs in May and October 2022 as the mortgage industry responded to the dovetail in mortgage…