Approved offers a borrower point of sale as well as a lender dashboard, both mobile friendly
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Personal finance technology company Credit Karma has acquired digital mortgage platform Approved as part of its efforts to build a consumer-facing digital mortgage experience, Approved founder and CEO Andy Taylor announced in a blog post.
With more than 80 million members in the US and Canada, Credit Karma’s products allow members to monitor and improve credit health and prepare and file taxes. The company also provides identity monitoring and vehicle monitoring.
The company has facilitated more than $40 billion in credit lines across financial products like credit cards, personal loans, mortgage refinancing, automotive financing, and student loan refinancing.
Approved offers a mobile-friendly borrower point of sale to manage their app, docs, timelines, and communication as well as a lender dashboard to manage clients and help automate processing.
“Working with Credit Karma gives us the resources and immediate scale to accelerate our mission-driven work, reaching significantly more homebuyers than we could have imagined when we started,” Taylor said. “It also doesn’t hurt that CK has amassed a team of some of the smartest, most creative and humble people we’ve ever met.”
“Credit Karma shares the same DNA that made us proud to work at Redfin, with unrelenting attention to how technology can improve the financial lives of its members. They’re the troublemaker that doesn’t care how things ‘have always been done’; contrarian, but not combative; and we’re joining them to change how people buy homes,” he said.
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