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.
September was another consecutively strong month at Fund That Flip. We originated 35 new loans for total volume of $7.5M. With nearly $204M in loan applications, this month gives us a strong forward pipeline, ensuring we can will continue to be selective when deciding which loans to fund.
As of October 15, 5.41% of our book was 30 days or more late on payments. This increase over the last month is due to a small group of borrowers, who have multiple loans with us, which are going through either sale or refinance. While there is an increase in the 30-60 day late category, 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 recently 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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