Mutual of Omaha acquires Keller Mortgage
Keller Mortgage will continue to operate alongside existing divisions of Mutual of Omaha, with Gary Keller as co-owner.
Key points:
- Like much of the mortgage industry, Keller Mortgage has had to adjust to the impact of rising interest rates, laying off staff in the spring and fall.
- KW's mortgage division had hundreds of employees at the time of the sale.
Keller Williams has sold its mortgage arm to a company that is quite familiar with financial services.
Mutual of Omaha announced the strategic acquisition on Monday, Feb. 20. The company will operate as Keller Mortgage alongside its existing divisions, according to a news release. Keller Mortgage will now be a part of Mutual of Omaha Mortgage and is co-owned by Mutual of Omaha Mortgage and Gary Keller.
The terms of the transaction and ownership breakdown were not released. While Keller Williams did not disclose an exact headcount, the mortgage division has hundreds of employees.
Like much of the mortgage industry, Keller Mortgage has felt the impact of the dramatic slowdown in the real estate market amid rising interest rates. The company underwent two rounds of layoffs in 2022, and in December announced a leadership change.
This strategic acquisition will provide consumers with additional mortgage services from a trusted brand with more than a century of business experience, said Darryl Frost, a spokesperson for the company.
"Keller Mortgage will continue to work to serve the mortgage needs of all Keller Williams real estate agents and customers across the country," Frost said in an email. "Now consumers will have access to more loans, a wide range of mortgage products, and best-in-class service."
From Mutual of Omaha's perspective, Keller Mortgage is a strong cultural fit that emphasizes integrity, teamwork, customer focus, innovation and accountability, said Mutual of Omaha Mortgage President Terry Connealy.
Gary Keller, co-founder of KW, said he's excited that these two brands are coming together.
"It's truly a win-win for all involved," Keller said.