SoFi Announces License to Originate Mortgages in New York

The online lender is now able to originate mortgages in 27 states, with hopes of expanding to all 50 soon; included in their announcement about the New York license was overall originations reached $1 billion in December, $100 million of which were mortgages; SoFi Chief Revenue Officer Michael Tannenbaum said, “The plan is to continue to roll out a state licensing strategy, our licensing strategy mirrored places where there were large jumbo balances.”; SoFi also believes their cross buying strategy and the $1 billion infusion from SoftBank has helped them weather the storm of the last year; in a separate announcement, the online lender has moved their office to 860 Washington Street in New York’s Meatpacking District.  Source

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