Home Captain acquires real estate technology company Redefy
Home Captain acquisition of Redefy : US financial technology company Home Captain has acquired Colorado-based real estate technology company Redefy for an undisclosed price in a move to better serve constituents across the home buying and home selling journey.
Based in New York, Home Captain optimizes communication between the homeowner and all other parties in the purchase or sale of a home. On the other hand, Redefy is focused on transforming the manner in which residential real estate properties are bought or sold.
Commenting on Home Captain acquisition of Redefy, Grant Moon – CEO of Home Captain said: “We are extremely excited for the opportunity to have a proven market leader join us in our journey!
“The combining of the two companies greatly accelerates our roadmap in delivering unparalleled customer value in buying and selling a home particularly for mortgage banks and mortgage portfolio customers.”
According to Home Captain, currently, more than 60% of all homes in the US belong to a mortgage portfolio. Banks and financial companies that own these mortgage portfolios experience substantial financial run-off when people sell their homes.
Several homeowners that sell their homes, buy a new house, however, they do not arrange a mortgage with their original lender, said Home Capital. Historically, mortgage servicers have struggled with retaining their customers who sell their home and buy a new home.
By acquiring Redefy, Home Captain can now offer tailored programs to banks and mortgage servicers that enable their customers to sell and buy a home through a “pick your path” real estate experience. This will lead to an enhanced customer experience, considerable cost savings, and better brand loyalty to the lending institution, said Home Captain, while eventually reducing runoff and increasing customer retention.
Chris Rediger – CEO of Redefy, commenting on Home Captain acquisition of Redefy, said: “The blending of our two companies will add another element to Home Captain’s already impressive technology stack. Together, we aim to improve the real estate transaction for not only home buyers and sellers but also for real estate agents, lenders, insurance providers and title companies.”