Marketplace lending has evolved from personal loans to numerous verticals; Prime Meridian Capital Management discusses real estate lending and investment opportunities it offers in comparison to other real estate products; provides examples of platforms including ShareStates, Patch of Land, Realty Mogul, LendingHome and Money360; gives details on loans and the investing process for real estate platforms. Source
LendingHome has reported over $1 billion in mortgage loan originations since it launched two and a half years ago; company is the leading marketplace lending mortgage loan originator in real estate; factors influencing the rapid growth include expansion to jumbo loans and a new investor platform for individuals; active in securitization, it has partnered with Nomura Securities International and developed the industry's first master trust securitization vehicle providing it with ongoing access to the securitization market. Source
Acre Homes aims to build a modern home ownership experience, and with the help of data from Plaid, applications are a breeze. Learn how.
Research from TransUnion suggests that the Federal Housing Finance Agency’s (FHFA) move to a bi-merge system could significantly impact both consumers and lenders while providing little benefit.
Online real estate lender and crowdfunding platform Patch of Land has hired Matthew Zall to serve as its new chief investment product officer; the new hire occurs as Patch of Land plans to expand into the single-family rental market, identifying an opportunity to capitalize on the 24 million US single-family units valued at over $6 trillion; Zall's experience includes single-family loan structuring at Blackstone Group subsidiary B2R Finance; he has also worked as a commercial real estate trader at J.P. Morgan and Bear Stearns; in comments regarding the new hire, Paul Deitch, Patch of Land's chief executive officer said, "The addition of Matt enables us to continue the expansion of our marketplace to fully serve the lending needs of more than 10 million Americans who directly invest in single-family residential properties and need consistent, reliable access to capital to fuel their businesses." Source
Money360 has reported another milestone in the nascent online lending commercial real estate market; the firm has originated $100 million in new commercial real estate loans in the past six months, doubling its total from August 2016; four recent loan closings for a total of $38 million helped the company reach its $200 million milestone; Money360 says it expects to exceed $500 million in loan transactions by the end of 2017. Source
Landbay will add Positive Lending to its distribution network; Landbay has a comprehensive suite of services for its intermediaries and is also supporting them in advance of the UK's September PRA portfolio landlord changes; Landbay is a UK specialist buy to let mortgage lender authorized by the FCA and involved with the P2PFA as one of its members. Source
Wealth Migrate is claiming to be the first real estate online investing platform that has incorporated blockchain technology; the company focuses on cross-border real estate investing; blockchain is being applied to defining and recording smart contracts and a decentralized, unalterable record of investment transactions. Source
Real estate marketplace lender Better Mortgage has raised $15 million in a new funding round bringing its total valuation to $220 million; the funding was provided by Kleiner Perkins Caufield & Byers, Goldman Sachs Group Inc. and Pine Brook Partners; the firm seeks to offer fast approvals for home loans and uses advanced algorithms to match borrower attributes with lending criteria from 20 large home loan buyers; launched in January 2016, the firm has funded over $500 million in home loans and is targeting $1.5 billion in originations for 2017. Source
Marketplace lender, LendingHome, has reached a new milestone; firm has funded over $750 million in mortgage loans since its launch in April 2014; claims to be the largest mortgage marketplace lender; firm attributes the rapid growth to a broader range of investors, now including retail investors, and the secured status of the real estate loans; Matt Humphrey, LendingHome CEO, shares additional thoughts in the included Q&A. Source