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What is SoFi acquiring with Wyndham Capital Mortgage?

Housing Wire

SoFi Technologies announced Monday that it had acquired fellow digital lender Wyndham Capital Mortgage in an all-cash transaction. Like most mortgage companies, Wyndham’s origination volume has been falling since 2021, when it notched $6.45 In doing so, SoFi will rely less on third-party partners and processes.

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FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided. There are some caveats related to counseling services, referrals, and duplicative work.)

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Interfirst Mortgage raises $175 million

Housing Wire

Chicago-based mortgage originator Interfirst Mortgage Co. has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

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SitusAMC acquires ComplianceEase in latest mortgage tech M&A deal

Housing Wire

Real estate services and technology firm SitusAMC just acquired the parent company of compliance technology provider ComplianceEase , the latest in a series of mergers and acquisitions that are shaking up the mortgage tech space in the last year.

Mortgage 377
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Cherry Creek Mortgage names new chief revenue officer

Housing Wire

Full-service lender Cherry Creek Mortgage announced Rick Hogle has joined the company as its chief revenue officer. Hogle began his mortgage career in 2001 at New Century Mortgage , where he became a branch manager. How to make digital marketing easy and effective for mortgage professionals.

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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

Chicago-based Interfirst Mortgage Co. To run the hub, the company hired Casey Nunn, a former Rocket Mortgage and Homepoint executive, as the vice president of wholesale lending. Interfirst was founded in 2001 as a retail originator and then expanded to the wholesale channel and the correspondent channel in 2008 and 2011, respectively.

Mortgage 388
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Guaranteed Rate acquires DTC lender Owning Corporation

Housing Wire

Fresh off its acquisition of Stearns , Guaranteed Rate has picked up Owning Corporation , a direct-to-consumer mortgage lender. Like virtually all residential mortgage lenders, Chicago-based Guaranteed Rate had its best-ever year in 2020, originating about $73 billion in mortgages. Presented by: Black Knight.