Industry News

Sindeo announces it’s shutting down, laying off staff

'Today, we made the difficult decision to wind down Sindeo' wrote the CEO in a letter
  • Technology-based mortgage company Sindeo shuts down after launching in January 2015.

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Ginger Wilcox "Endings are always hard," wrote Ginger Wilcox, Sindeo's chief marketing and industry officer on Facebook last night, "but today may be one of the most difficult. Today, we made the difficult decision to wind down Sindeo." Four years ago, the idea for this technology-based mortgage company was formed. Sindeo's purpose was to help streamline the home loan process -- and in many ways, it succeeded in that mission, noted a letter from Sindeo CEO Nick Stamos on the company's website. "We did what everyone said couldn't be done," Stamos wrote. "We built a place where people could shop and apply for a mortgage from a robust marketplace of over 1,000 loan programs, with one single application and one credit check. We secured partnerships with some of the top real estate and consumer finance brands. We helped our clients save millions of dollars on their home loans. We built a people-centric brand, putting the needs of Sindeo's clients first." Both ...