Items Tagged with 'online lender'

ARTICLES

  • Growing pains for SoFi? Online lender lays off mortgage staffers

    Cutting 5% of its total staff
    It appears that SoFi is suffering a bit of growing pains as it pushes to expand its mortgage lending operation.Last week, Bloomberg reported that SoFi was buying the engineering and product teams of Clara Lending, a mortgage startup founded in 2010. But as those new staffers come in, other staffers are being let go.
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  • SoFi pushing further into mortgages by acquiring tech teams from startup Clara Lending

    Bloomberg reports that SoFi wants to hire 100 engineers
    It’s been a little more than three years since SoFi expanded into mortgage lending, and while the company has since grown into one of the largest online residential mortgage retailers, it seems that’s not enough for SoFi. SoFi appears to be planning a larger push into mortgages, going so far as to buy some of the technology expertise of another mortgage lending startup.
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  • loanDepot unveils ambitions to expand beyond lending into entire real estate transaction

    Wants to connect approved homebuyers with real estate agents
    loanDepot is already one of the nation’s largest mortgage lenders, but now, the company wants to become a much larger part of the home buying process. On Tuesday, loanDepot unveiled an ambitious new plan that will see the lender expand beyond simply lending a borrower the money to buy a home into facilitating the entire real estate transaction.
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  • SoFi officially taps Twitter exec Anthony Noto to be new CEO

    Replaces Mike Cagney, who stepped down last year amid controversy
    SoFi has found its new leader. The online lender announced Tuesday morning that it selected Twitter Chief Operating Officer Anthony Noto to be the company’s new CEO. Noto replaces Mike Cagney, who abruptly resigned as CEO back in September with the company embroiled in controversy.
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  • SoFi reportedly wants Twitter COO Anthony Noto as its new CEO

    WSJ reports that online lender offered job to former Goldman Sachs banker
    It appears that SoFi thinks that Twitter Chief Operating Officer Anthony Noto is the right person to lead the online lender out of its recent rough patch. SoFi has been on the hunt for a new CEO following Mike Cagney's abrupt resignation back in September amid controversy.
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  • SoFi CEO Mike Cagney stepping down as company fights sexual harassment claims

    Cagney is also company’s co-founder, plans to step down by end of 2017
    For at least the second time this year, the CEO of a white-hot Silicon Valley startup is stepping down amid controversy. Earlier this year, Uber CEO Travis Kalanick stepped down as the company fought back against months of bad publicity and complaints about the company’s culture. And late Monday, San Francisco-based Social Finance, better known as SoFi, announced that its CEO and co-founder, Mike Cagney, plans to step down by the end of the year.
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  • Online mortgage lender Lenda raises $5.25 million to fund expansion

    Plans to expand beyond California, Oregon, and Washington
    Lenda, an online mortgage lender based in San Francisco, announced Monday that it closed its Series A round of funding, raising $5.25 million from a group of investors. In a release, the company said that it plans to use the money to fill “key” management positions, invest in improving its software platform, and expand beyond its current states of California, Oregon, and Washington.
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  • Lenders join together against SoFi banking move

    Urge Federal Deposit Insurance Corp. to reject application
    SoFi, an online lender, applied with the Federal Deposit Insurance Corp. for a special banking charter known as an industrial loan company, the first step toward becoming a bank. But the Independent Community Bankers of America is opposing the move.
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  • loanDepot reaches landmark $100 billion in funded loans

    Since inception in 2010
    loanDepot kept busy the past seven years since it launched into the housing finance market after the financial crisis. And all the hard work is paying off as the nonbank announced it funded $100 billion in home, personal and home equity loans. And Chairman and CEO Anthony Hsieh says that the company isn’t done growing.
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  • Is SoFi about to loosen its lending standards?

    Typically targets "high earners not rich yet" for its member exclusive club
    For years, SoFi, the online mortgage lender, marketed to an elite group of borrowers usually deemed as “great” in its ad campaigns. But this could all start to change as the online lender is possibly rethinking its strategy in order to grow in the current tight lending environment. Could this be good news for Millennials?
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