SAN FRANCISCO–Social Finance, better known as SoFi, which has made its mark in student lending, is making a big investment in mortgage lending.
The company, which has obtained a mortgage license in New York, reported its origination volume hit $1 billion in October and that monthly originations of home loans surpassed $100 million in December, 2016.
SoFi Chief Revenue Officer Michael Tannenbaum said the company is projecting “significant growth” in mortgages, which are the fastest growing of its three main lending products, along with student loan refinancings and personal loans.