Multichannel mortgage lender Lower has acquired software company Neat Labs to transform its point-of-sale technology into a fully integrated application-to-funding mortgage platform, aiming to reduce reliance on third-party vendors. 

The stock-based deal was finalized in December, though financial details were not disclosed.

“It’s very hard to build this technology from scratch,” Dan Snyder, CEO and co-founder of Lower, said in an interview about the deal. “Neat Labs built out a point-of-sale, a full loan origination system, and a full pricing engine, all integrated.” 

Lower plans to integrate Neat’s cloud-based, end-to-end mortgage origination platform into its details ⇒

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