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.
October was yet another month of consecutive growth at Fund That Flip. We originated 47 new loans for total volume of $10.5M. With nearly $200M in loan applications, this month also gives us a strong forward pipeline, ensuring we will continue to be selective when deciding which loans to fund.
As of November 15, 4.21% of our book was 30 days or more late on payments. This is a significant decrease over the previous month, and we have good visibility on the path to either repay these loans or have them brought current. 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 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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