Bay Equity LLC

Founded in 2007, and based in California, US, Bay Equity LLC, also known as Bay Equity Home Loans LLC, operates as a full-service retail mortgage lender. The company was founded by its Chief Executive Officer Brett McGovern, President and Chief Product Officer Casey McGovern, Chief Business Development Officer Jon McGovern, Executive Vice President – Corporate Initiatives John Curtin, and Chairman Jim Corbett. In January 2022, Redfin Corporation agreed to acquire Bay Equity Home Loans LLC from unspecified investors for USD 135 million in cash and stock, which represents a USD 72. 5 million premium over the company’s estimated tangible book value as of December 31, 2021.

As of 2022, the company’s services are available in over 42 states and it employs approximately 1,200 employees. Bay Equity offers home loans, specialty loans and home refinance loans for current homeowners and first-time homebuyers. The company's website also includes a home loan calculator and a homeownership news blog for its customers. Following the acquisition, Bay Equity Home Loans LLC will continue to operate under the Bay Equity brand and will take advantage of Redfin Corporation's brokerage, financing, and other operations.