A four-year-old marketplace home lender that was created to transform the manual mortgage process is closing down. Among the factors cited for the demise was regulation.
Sindeo Inc., a San Francisco-based private company, was originally co-founded by Ori Zohar and Sindeo Chief Executive Officer Nick Stamos in 2013 as MoneyPark Inc.
A January 2015 announcement called the company a "modern mortgage marketplace" and promised to make the home lending process more timely, competitive and transparent.
Source: Mortgage Daily