SoFi Technologies announced Monday that it had acquired fellow digital lender Wyndham Capital Mortgage in an all-cash transaction.
The acquisition will allow SoFi to broaden its suite of mortgage products available to members, enhance unit economics, and take ownership of a scalable digital mortgage platform, the company said in a statement. In doing so, SoFi will rely less on third-party partners and processes.
Terms of the deal were not announced, and as of 11 a.m. EST, SoFi did not offer additional details through an 8K disclosure with the Securities and Exchange Commission.
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