Housing affordability continues to trouble the industry, forcing some companies to either shrink in size or close their doors, but not 2018 HousingWire Tech100 winner LendingHome.
The rapidly growing mortgage marketplace lender, recently announced another company record.
Get this, it originated more than $3 billion in total mortgage loans for property investors and homeowners in just four years, lending its most recent billion in only eight months.
This unprecedented pace is 33% faster than the second billion and 375% faster than what it took them to lend the first billion.
Notably, Lendinghome also funded the purchase of more than 14,000 houses and brought investors back over $1.6 billion in principal and more than $133 million in interest.
LendingHome Co-founder and CEO Matt Humphrey stated he is proud of the work his company is doing to encourage the growth of the market.
“LendingHome’s goal is to radically improve every aspect of the mortgage process for customers who simply want and need a better way to get a home loan,” Humphrey said. “The solution we provide has profoundly resonated with the fix and flip industry. This segment of the mortgage market recently accounted for almost 7%* of all homes sold, and we are proud to be a trusted partner helping fuel that growth.
Humphrey stated Lending home capitalized on the lack of loan products provided from banks for property investors.
“Banks were never an option; they are too entrenched in 30-year mortgages to create a specialty loan product for property investors,” Humphrey stated. “So, we seized upon that opportunity and created loans with reliable terms, transparency, and online access. Today flippers don’t need to know someone rich. They just need to visit our website.”
HousingWire Tech100 winners are chosen based on their innovativeness and ability to deliver results. LendingHome, today, proves they are more than worthy of this title.
