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're proud to report that May was another strong month for Fund That Flip. We closed 45 new loans for a total volume of $14.1 million, one of our highest months yet. With over $200 million in loan applications, we continue the trend of a strong forward pipeline, meaning we will continue to be selective when deciding which loans to fund.
As of May 15, 7.04% of our book was 30 days or more late on payments, a decrease over the previous month. As we continue to work with the two borrowers whose loans have moved into late status, we expect this number to further contract in the next 90 days. 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 recent 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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