Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower, which will create a unified lender with more than 650 loan officers and 120 active branches across the country.
Financial details of the merger, which is expected to close in the first quarter of 2024, were not disclosed.
Over the last 12 months, Thrive has originated about $1.42 billion while Columbus, Ohio-based Lower has originated $1.88 billion during the same time period, according to mortgage recruiting platform Modex. In total the lenders have originated about $3.3 billion over the 12 months, which puts a combined company details ⇒
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