The personal finance company NerdWallet Inc. (NASDAQ: NRDS) has expanded into the mortgage brokerage industry with its $1 million all-cash acquisition of Next Door Lending.
NerdWallet CEO Tim Chen announced the acquisition in the company’s third quarter earnings report, noting the company plans to continue “to invest in our strategy of becoming a Trusted Financial Ecosystem with our acquisition of Next Door Lending, a mortgage brokerage. We believe this acquisition will allow us to offer shoppers more hands-on guidance and creates another opportunity for us to build deep and direct relationships with our consumers.”
Headquartered in Bingham Farms, Michigan, Next Door Lending’s president and co-owner is Jonathan Haddad, who is also chairman and chief executive of the Association of Independent Mortgage Executives (AIME).
In addition to the acquisition, NerdWallet announced the resignation of Lauren StClair as chief financial officer, effective March 7, 2025, to pursue other opportunities. The company will open a search for a replacement to StClair.
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