New York-based mortgage platform Roam has secured a $1.25 million seed round, allowing the company to officially launch its services on Wednesday. Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. 

Tech executive and investor Keith Rabois at venture capital firm Founders Fund led the capital injection. It also included Opendoor co-founder Eric Wu, Culdesac CEO Ryan Johnson and #ANGELS founding partner Jana Messerschmidt. 

Following the investment, Wu and Rabius will join Roam’s board. Tim Mayopoulos, former CEO of Fannie Mae, who was named CEO of Silicon Valley Bank N.A. in March, is also listed as a senior advisor. 

Assumable mortgages, the company’s primary bet, were details ⇒

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