InstaMortgage merges with California brokerage All Cal Financial

Fintech lender InstaMortgage and California-based brokerage All Cal Financial have announced that their businesses will merge.

While the companies did not disclose the financial terms of the agreement, they released a statement saying that the deal will “provide more product options for its loan officers, new tools for the referral partners to grow their business, and further the company’s goal of being the preferred lender for homebuyers.”

The merger will also expand InstaMortgage’s workforce to 125 employees. In addition, Jim Black, president of All Cal Financial, has taken the role of chief lending officer of InstaMortgage and will lead new product development, tech partnerships and sales growth.