SoFi Technologies Inc., a provider of digital financial services, has acquired Wyndham Capital Mortgage, a fintech mortgage lender.
The acquisition – which includes the integration of both staff and technology from Wyndham Capital – will allow SoFi to broaden its suite of mortgage products available to members, enhance unit economics, and take ownership of its digital mortgage platform. This acquisition is also intended to minimize SoFi’s reliance on third-party partners and processes.
“Several macro- and socioeconomic factors – high inflation and rising mortgage rates, the new world of work and others – have ushered in a new era across the U.S. real estate market,” says Anthony Noto, CEO of SoFi Technologies. “These changing conditions mean it’s more important than ever that borrowers have a trusted partner they can look to as they go through the process of obtaining a mortgage for a home.”
SoFi’s acquisition of Wyndham Capital enables savings for current and prospective homeowners through transparent rates and a seamless application process.