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 happy to report that October was another strong month for Fund That Flip. We originated 58 new loans, our most in one month, for a total volume of $11.3 million. With nearly $200 million in loan applications, we continue to build a strong forward pipeline, meaning we will continue to be selective when deciding which loans to fund.
As of October 15, 7.24% of our book was 30 days or more late on payments. We are in close communication with two borrowers whose loans make up the majority of the increase and anticipate this number will continue to improve 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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