TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1501025
June 2023 » thefivestar.com 29 June 2023 I N D U S T R Y U P D A T E establish their own business as an indepen- dent fee appraiser. "We aren't aware of any existing programs or initiatives like this, so we are excited to set a new standard for the profession," said Jeff Hogan, VP of Collateral Valuation at Veros Real Estate Solutions. "The goal of the Valligent Appraiser Training Program is to not only provide an opportunity for minorities to become experienced professionals in this space, but to also provide the industry an effective solution to address potential appraisal bias." SOFI ANNOUNCES THE ACQUISITION OF WYNDHAM CAPITAL MORTGAGE S oFi Technologies has acquired Wyn- dham Capital Mortgage, a fintech mortgage lender in an all-cash trans- action. While the transaction is not expected to be material to the company's 2023 financial outlook, it is expected to be accretive within six months. The acquisition—which includes the in- tegration of both talent and technology from Wyndham Capital—will allow SoFi to broad- en its suite of mortgage products available to members, enhance unit economics, and take ownership of an intelligent and scalable plat- form that has set the industry standard for a fully digital mortgage experience. This "full stack" approach is also intended to minimize SoFi's reliance on third-party partners and processes. "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 decision individuals make in their lives," said Anthony Noto, CEO of SoFi Tech- nologies. "Several macro- and socioeconomic factors—high inflation and rising mortgage rates, the new world of work, and others— have ushered in a new era across the U.S. real estate market. These changing conditions mean it's more important than ever that bor- rowers have a trusted partner they can look to as they go through the process of obtaining a mortgage for a home. Today's acquisition of Wyndham Capital will not only allow us to scale and keep pace with accelerated growth, but also allow us to foster that growth in a way that brings value to our members through sales and operational efficiencies and helps members get their money right when it comes to one of life's most significant financial milestones." SoFi's acquisition of Wyndham Capital enables savings for current and prospec- tive homeowners in both time and money through transparent rates and a seamless application process. Wyndham Capital's innovation-first approach has enabled it to deliver a fully digital and award-winning experience for borrowers, while also freeing up employees' time to focus on borrower communication, transparency, and trust. FAIRWAY ANNOUNCES TRAINING PARTNERSHIP WITH XINNIX X INNIX, a sales and leadership performance company, has been selected by Fairway and Fairway Ig- nite to empower their sales professionals and their leaders to further elevate their success. At a time of increased competition for a smaller pool of customers nationwide, Fairway