SoFi, a fintech finance company taking an unprecedented approach to lending and wealth management, announced that its wholly owned subsidiary SoFi Lending Corp. has been approved as a seller and servicer with Federal National Mortgage Association (Fannie Mae).
“While we launched our mortgage business focused on larger ‘jumbo’ loans, the certainty and efficiency offered by Fannie Mae will enable us to serve more members by expanding geographically and into smaller loan amounts” said Michael Tannenbaum, vice president of Mortgage at SoFi.
This with the upcoming $1 billion new equity round will give the fast growing student loan provider more fire power to expand into mortgages, as well as personal loans and wealth management products.
