The “new normal” of remote work and social distancing due to the coronavirus pandemic has contributed to a boom in digital lending platforms — and their values.
Several states had online notarization policies for mortgage closings before the pandemic, but more than half of the states have issued orders in recent months — some of them hastily written.
The parent company of Quicken Loans splurged $905 million on marketing last year, helping the nonbank become the second largest mortgage lender. The firm is now ready to launch an IPO.