A New Gold Rush For Lenders? Benefitting From The Great Resignation

By KIMBERLEY HAAS As the COVID-19 pandemic continues and workers reevaluate their commitment to metropolitan life, lenders in smaller cities stand to benefit from what is being termed the “Great Resignation.” It is estimated that about 4.4 million Americans quit their jobs in September after months of dramatic departure numbers, which means those employees are looking for and taking new jobs, often choosing to live in a different location if they have the option of working remotely. Since 87% of employees say they would like to work remotely at least one day a week, and one in three workers would not want to work for an employer that required them to be onsite full time, potential homebuyers are taking these…

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…