MoffettNathanson notes SoFi announced it has acquired Fintech mortgage lender Wyndham Capital Mortgage, in an all cash transaction. The firm views the tuck-in acquisition of Wyndham Capital Mortgage as a well-timed move to strengthen SoFi’s Home Lending franchise. While the terms of the acquisition have not been disclosed, MoffettNathanson likes seeing SoFi deploying capital at the bottom of the cycle when asset valuations are likely to be depressed. The firm has an Outperform rating on the shares with a price target of $10.
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