In an effort to promote 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 happy to report that January was another strong month of growth. We originated 34 new loans for total volume of $5.7M. We sourced over $165M in loan applications, which provides a solid forward pipeline, allowing us to continue to be selective when choosing which borrowers and projects to fund.
At the end of January, 3.90% of our book was 30 days or more late on payments. This is a slight decrease from December, although we have experienced several loans move into the foreclosure process. Although these projects have moved into the foreclosure process, 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.
Check out our featured projects each month 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.
Have a project that is ready for transformation? Apply in under 2 minutes to get fast funding for your next real estate project.