SoFi Technologies Inc. (NASDAQ: SOFI) has acquired Wyndham Capital Mortgage, a fintech mortgage lender in an all-cash transaction.
Headquartered in Charlotte, North Carolina, Wyndham Capital has helped more than 100,000 borrowers since it launched over two decades ago. According to a press statement from the companies, “SoFi’s acquisition of Wyndham Capital enables savings for current and prospective homeowners in both time and money through transparent rates and a seamless application process.”
The financial terms of the acquisition were not disclosed, but San Francisco-headquartered SoFi stated it would “integrate Wyndham Capital’s talented team and robust technology platform into the company’s Lending business, adding strength and efficiency to the home loans segment of the company’s Financial Services Productivity Loop (FSPL) strategy.” As a result, SoFi said it would be able to “broaden its suite of mortgage products available to members, enhance unit economics, and take ownership of an intelligent and scalable platform that has set the industry standard for a fully digital mortgage experience.”
