SimpleNexus Rebrands To nCino’s Mortgage Suite

By KIMBERLEY HAAS SimpleNexus has officially rebranded as nCino’s Mortgage Suite and company leaders say customers can benefit from a more diverse and financially stable company. Following its acquisition for $1.2 billion in stocks and cash in January of 2022, SimpleNexus’ market share in the mortgage point of sale space grew. Their products now touch about 25% of all residential loan originations in the United States. Ben Miller, EVP of US Mortgage, said prior to the sale, SimpleNexus worked mostly with independent mortgage banks. Today, they work with more banks and credit unions. Miller, who was a co-founder of SimpleNexus, played a leading role in the acquisition. He told The Mortgage Note that when nCino approached them, they weren’t for…

nCino Acquires SimpleNexus For $1.2B

Fintech company nCino, Inc. is expanding its mortgage market reach by acquiring SimpleNexus for $1.2 billion in stocks and cash. SimpleNexus, a digital mortgage platform, was involved in more than one in seven mortgage originations in the US during the first nine months of 2021. It provides services for more than 300 mortgage companies and 41,000 loan originators across the country. “Just as nCino has transformed the process for commercial, small business and retail lending, treasury management and account opening, SimpleNexus has streamlined the many stages of the homeownership process into a single, seamless journey,” said Pierre Naudé, Chief Executive Officer of nCino. “Their innovative solution and deep subject matter expertise in consumer front-end technology will extend our capabilities to…