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 May was yet another month of growth. We originated 40 new loans for total volume of $8.2M. We sourced nearly $183M in loan applications, again allowing us a strong forward pipeline so we can continue to be selective while choosing which borrowers and projects to fund.
At the end of May, 4.70% of our book was 30 days or more late on payments, another decrease from the previous month. 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 newest Featured Flip in our featured projects to see before and after photos of the homes and communities we're helping to improve.
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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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