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.
July was another strong month for Fund That Flip. We originated 28 new loans for total volume of $7.2M and sourced nearly $177M in loan applications. This continues our trend of a healthy forward pipeline, ensuring we can be selective when choosing which loans to fund.
At the end of June, 4.16% of our book was 30 days or more late on payments, a nearly 20% decrease over June (5.09%). We are pleased with this drop in late payments, and 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.
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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