The stay-at-home orders that have been enforced over the past few months have made it challenging to deliver with certainty, commitments to fund loans as we would under normal circumstances. For our capital partners, it's important that we complete a thorough due diligence which includes third party appraisals and ensuring a first position mortgage is properly secured, all of which became increasingly difficult to accomplish with the shutdowns. For that reason, we’ve been primarily focused on servicing our current clients while working with our vendor partners to develop ways to deliver our value propositions of speed, reliability, and certainty.
We’re encouraged by the positive trends we’re beginning to see as it relates to the slowdown of the spread of the virus. States and businesses are beginning to reopen and a new “normal” has begun to emerge. This has allowed us to turn our attention to once again originating new loans.
A new “normal” for fix-and-flip lending has also emerged. As we wrote previously, the market will be different than it was before COVID-19. We remain committed to being your reliable source of capital to help you scale your real estate business. Reach out to us at firstname.lastname@example.org or get in touch with an account executive at (202) 871-8686 to learn more about our current lending programs and how we can help going forward.
We appreciate your patience through these uncertain times and are grateful for your trust in us. We look forward to hearing from you and working together on your next project.
-Matt Rodak, CEO
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