Buying your first home is one of those irreplaceable, once-in-a-lifetime experiences. It’s also incredibly overwhelming. So we thought, why not kick things off over happy hour?
Read moreNo. Becoming employed would not revoke the approved hardship program benefit during the hardship program period. Members can choose to resume payments if they’d like by submitting a request in writing, or if you have a SoFi Student Loan Refinance and/or in-school product, serviced by MOHELA, you may submit a verbal request by calling 877-292-7470. However, Members can wait until the hardship program period officially ends to begin making payments.
Note that interest will continue to accrue and may be capitalized onto the loan’s principal balance during your hardship program period to the extent permitted by applicable law. Please read the How will my loan payments be affected after Unemployment Protection ends? section for more information.
Read moreNew status as a Fannie Mae seller & servicer will allow SoFi to expand to more geographies and into smaller loan amounts
San Francisco, Calif. — May 4, 2016 — SoFi, a modern finance company taking an unprecedented approach to lending and wealth management, announced today that its wholly owned subsidiary SoFi Lending Corp. or an affiliate has been approved as a seller and servicer with Federal National Mortgage Association (Fannie Mae). SoFi and Fannie Mae are both highly committed to promoting homeownership, and this new designation will help the company in its mission to help financially responsible consumers buy the home they want.
“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, VP of Mortgage at SoFi. “Sixty-five percent of SoFi’s purchase customers are first-time homeowners who have what we call a ‘millennial mindset.’ We’ve designed our mortgage products for them – they value convenience and speed, and they want a range of purchase-focused products that help them to be competitive in the attractive real estate markets in which they live. We’re excited do this through Fannie Mae.”
SoFi admires Fannie Mae’s commitment to technological innovation in mortgages; it complements the strong technology investment SoFi has made to improve transparency and efficiency in the mortgage process by marrying the convenience of an online application process with exceptional live, personal support.
SoFi has been lending in the mortgage space since Fall of 2014 and is now available in 26 states and Washington, D.C. See sofi.com/eligibility for state licensing information.
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