SoFi

SoFi Acquires Wyndham Capital Mortgage In Cash Deal

Posted on by TMN Editor
Digital financial services company SoFi Technologies has acquired Wyndham Capital Mortgage, the company announced in a press release. SoFi is a financial services company that offers a lending arm, as well as a financial technology stack. SoFi’s acquisition includes both talent and technology, allowing the company to expand the mortgage products available to its members. By integrating Wyndham’s scalable digital mortgage platform, the company is taking on a “full stack” approach that allows it to rely less on third-party partners and processes, according to company leaders. “At SoFi, we’re on a mission to help people get their money right, and purchasing a home is often one of, if not the, biggest financial decisions individuals make in their lives,” said Anthony…

Pylon Raises $8.5M For Embedded Mortgage Infrastructure Platform

Posted on by TMN Editor
Mortgage-as-a-service provider Pylon has raised $8.5 million in seed funding for the development of its embedded mortgage infrastructure platform, the company announced in a press release. Funding is led by Conversion Capital with participation from Fifth Wall, Peter Thiel, and QED Investors, among others. Zillow, Blend, Ramp, SoFi, and Figure offered additional funds as angel investors. “Mortgages are rapidly becoming commoditized across rates, loan products, and operations as indicated by the nearly identical rates amongst the top 10 lenders,” said Pylon co-founder Trent Hedge. “We are long overdue for the infrastructure layer that standardizes these commodities through software – allowing our customers to focus on building highly differentiated, revenue-generating mortgage offerings at a fraction of the time and cost.” Pylon…