Less than a week after North Carolina’s First Citizens Bank announced plans to buy Silicon Valley Bank, Silicon Valley’s SoFi Technologies (currently valued at $4.5 billion) announced they will buy one of Charlotte’s largest banks – Wyndham Capital Mortgage Company.
Since CEO Jeff Douglas first launched the company in 2001, Wyndham Capitol has helped over 60,000 customers secure $18 billion in mortgage loans, steadily growing to become one of the nation’s top fintech mortgage lenders.
SoFi plans to fully integrate all of Wyndham’s talent and unique all-digital mortgage technology into their growing suite of financial offerings.
“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. 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 CEO Anthony Noto said in a press release. “Today’s acquisition of Wyndham Capital will not only allow us to scale and keep pace with accelerated growth, but also allow us to foster that growth in a way that brings value to our members through sales and operational efficiencies and helps members get their money right when it comes to one of life’s most significant financial milestones.”
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