In line with our goal of industry-leading transparency, Fund That Flip provides lenders relevant statistics related to loan origination and performance. You will also find updates related to technology and offering enhancements herein.
We are excited to report that August was another recording-breaking month at Fund That Flip. We originated 52 new loans for total volume of $15.6M, our highest month on record. With nearly $208M in loan applications, August gives us a strong forward pipeline, ensuring we can be selective when choosing which loans to fund.
At the end of August, 3.91% of our book was 30 days or more late on payments, another decrease over the previous month. We are pleased with the steady drop in late payments, and we continue to work with the borrowers to proceed towards the quickest path to liquidity while managing downside risk. Investors in these projects will be notified as our team makes progress on these loans.
We are constantly impressed by the quality of work our customers are completing with their funded projects. Check out our recently featured flips to see before and after photos of the homes and communities we're helping to improve.
Thanks for your continued support. We appreciate your business and feedback!
Email us at InvestorRelations@fundthatflip.com to schedule a call with a member of our investments team, ask a question or provide feedback.
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