In the fall of 2023, Lower LLC made a strategic move to acquire Universal Lending Home Loans (Universal), one of the longest-standing independent mortgage companies in Colorado. Universal was long-known as a reputable company, with helpful and knowledgeable experts in home finance that served their clients and referral partners with a smile and ease of process unrivaled by big-box competitors. The acquisition expanded Lower’s physical footprint in the West, while retaining key talent from Universal’s highly regarded team. Now, nearly a year later, we are all benefiting from this union.

When considering an acquisition, it is common to expect accretive growth and synergies, but it's not as common to have such an increase in talent into your company, and that’s the real win with the Universal acquisition. – Mike Baynes, Founder, Lower

Background of the Acquisition

Universal Lending Home Loans built a solid reputation over three decades, standing out for its strong commitment to customer service, family-centered culture, and expert mortgage industry services. Their strong relationships with realtors and buyers in Colorado established Universal as a trusted local name.

As a fast-growing, tech-forward company who values independence, optimism, and high performance, Lower saw an opportunity in Universal. The acquisition was part of a broader strategy to blend Universal’s people-first approach with our innovative technology.
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Integration Process: Blending Culture and Systems

The integration of Universal Lending Home Loans into Lower’s framework focused on retaining the best of Universal. One of the key successes has been the involvement of Universal’s leadership in this transition. A former owner of Universal, TJ Kennedy, now leads the division at Lower, while their Operations Manager, Karen Goodwin, has taken charge of the division’s pipeline, operations, advocacy, and process improvement. These leaders have been vital advocates for their teams, ensuring that the customer-first mentality Universal was known for continues to thrive under Lower’s umbrella.

Lower’s emphasis on independent thinking meshed well with Universal’s longstanding culture of kindness and expertise. Rather than imposing its corporate culture on Universal, Lower has managed to blend the best of both approaches, allowing this division to maintain its identity while introducing new, tech-driven processes.

We're grateful to find that the Lower Team had like-minded mortgage professionals who are committed to solve problems and support sales. I'm finding a growing commitment to process improvements that will allow our teams to excel and attract new talent for growth. – Karen Goodwin, Operations Manager, ULHL

Overcoming Initial Obstacles

As with any acquisition, challenges were inevitable. One of the more immediate hurdles was the time zone difference between Lower’s HQ out East and Universal’s Colorado operations. In the early stages, immediate “help” after 6pm ET was limited. This obstacle was short-lived. Lower quickly adapted, developing an “after-hours” support model tailored specifically for acquisitions in different time zones. This innovative solution ensured that Universal’s staff could continue being productive later in their business day, reducing downtime and fostering continued momentum.

Lower’s merger with Thrive Mortgage, whose operations are based in Texas, built in CT support across all corporate departments, further ensuring access to across multiple time zones.
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Success Stories and Milestones

Since the acquisition, Universal’s team has thrived, and the benefits of the merger have become increasingly apparent. Not only has the group seen an increase in loan volume, it has also retained its top-producing Loan Officers, a testament to Lower’s commitment to maintaining the positive elements of Universal’s legacy.

The opportunity to partner with an organization like Universal is a once-in-a-career opportunity. Their reputation, expertise, and overall culture are second to none. TJ Kennedy is an exceptional leader who has been able to maintain a long tenured group of loan officers while providing a platform with Lower that makes them poised to grow. – Nicholas Gallagher, Managing Director EVP, Lower

One of the biggest attractions we saw in joining Lower was the opportunity to continue playing offense.  Since then, we have seen consistent improvement amongst our teams and an excellent level of support. – TJ Kennedy, President, ULHL

Another major advantage of the acquisition has been expanded access to Lower’s product suite. By merging Universal’s local expertise with Lower’s robust product offerings, the division now has more tools at their disposal to better serve customers, giving them a competitive edge in the market. This combination of talent retention and product expansion has set the stage for ongoing growth. 

Thanks to Lower's product suite, I can now say 'yes' to clients in situations where I previously had to say 'no.' With Lower's Buy Before You Sell Program, I've helped clients move into new homes before selling their current ones—without needing to refer them to a bank. Additionally, while I've long been licensed in multiple states, I could only offer down payment assistance in Colorado. Now, I can provide this assistance to clients in every state where we lend. That's the true spirit of mortgage banking—ensuring every client has access to the best products, no matter where they are. – Elizabeth Turra, Branch Manager, ULHL

We’re fully committed to “MAKING LOANS” and providing top-notch service. I am genuinely thrilled with how Lower has integrated into our team. Every employee is incredibly helpful and proud to be part of this successful and proficient organization. – Donna Hudson, Loan Officer, ULHL

Ten months into the acquisition, Lower's integration of Universal Home Loans stands as a success story in the mortgage industry. The thoughtful blending of cultures, the retention of top talent, and the shared commitment to high performance have created a strong foundation for future growth. By prioritizing both people and innovation, Lower has positioned itself to thrive in a competitive market while honoring Universal’s legacy of kindness and expertise.

Everybody within Lower has stepped in to make it feel exactly like the family we had at ULHL. This has allowed me to continue to focus on growing my business, because I can trust we all have the same goals. The technology and training that Lower provides gets me excited for the future!  I've been given every chance to succeed. – Brian Hafner, Branch Manager, ULHL

As the next phase of this journey unfolds, the lessons learned from this integration will continue to guide Lower’s future acquisitions, ensuring that each new chapter builds on the strengths of both the past and the future.