Market Overview

LendingHome Tops $3 Billion in Loan Originations


Exponential Growth Achieved By Partnering with Home Flippers to
Revitalize U.S. Housing Stock

LendingHome –
the largest, fastest-growing, online mortgage marketplace lender – today
announced a new company record: the origination of more than $3 billion
in mortgage loans for property investors and homeowners. The company
achieved this milestone at an unprecedented pace: it lent its third
billion in just eight months, which is 33% faster than the second
billion and 375% faster than it took to lend the first billion.

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LendingHome announces new company record: more than $3 billion in loan originations, fueled by expon ...

LendingHome announces new company record: more than $3 billion in loan originations, fueled by exponential success with the fix and flip industry. (Graphic: Business Wire)

Fueled by the efficiency of its proprietary technology, LendingHome has
also funded the purchase of more than 14,000 houses and returned to
investors more than $1.6 billion in principal and over $133 million in

"LendingHome's goal is to radically improve every aspect of the mortgage
process for customers who simply want and need a better way to get a
home loan," said Matt Humphrey, co-founder and CEO of LendingHome. "The
solution we provide has profoundly resonated with the fix and flip
industry. This segment of the mortgage market recently accounted for
almost 7 percent* of all homes sold, and we are proud to be a trusted
partner helping fuel that growth."

The "fix and flip" industry – in which property investors buy,
rehabilitate (fix), and resell (flip) residential homes – provides a
vital service to U.S. consumers who want to buy a home, but find
themselves in the midst of a nationwide housing shortage: the rate of
new home construction is near its lowest level in 60 years of record
keeping**. Meanwhile, about 70% of the U.S. housing stock was built
prior to 1989, according to the American
Housing Survey
, and is likely in need of significant repair or

"Just four years ago when we started lending, flippers had very few
financing options," Humphrey said. "They could ask friends and family
for money, or they could find someone in their network who has a lot of
cash and is willing to provide a so-called ‘country club' loan. Banks
were never an option; they are too entrenched in 30 year mortgages to
create a specialty loan product for property investors. So we seized
upon that opportunity and created loans with reliable terms,
transparency, and online access. Today flippers don't need to know
someone rich. They just need to visit our website."

Cathy Gould-Harrison can attest to the difference LendingHome makes. She
is the owner of Maxx Investors, LLC, in Stockton, Calif., and just
closed her fourth deal with LendingHome: "When I started with
LendingHome, I was shocked at how quickly and easily everything went.
The website is easy to use and the process is 10 times faster than that
of any regular lending company. I appreciate that I can log onto my
account, see what I have uploaded, see what's needed – and that's
really, really easy."

LendingHome is more than a lender. With its company-wide value of
"Customer First," coupled with its built-from-scratch technology,
LendingHome strives to be a partner that maximizes each borrower's
chance of success. First, the FinTech startup leverages its treasure
trove of data to assess what worked, or didn't work, with similar
properties in similar markets. This allows LendingHome to give accurate
rates and terms instantly, all online. Then the company's "feasibility
experts" assess the strengths and weaknesses of a borrower's business
plan and provide strategic counsel. Loans close in as fast as five days.

As a result of this hands-on partnership, LendingHome is helping
flippers turn their hobby into a thriving small business. Sara and Dan
Dyer are a retired couple in Nashville, who just completed their fifth
flip with LendingHome and are currently financing their next one with
the startup.

"We are amazed by how personable and communicative our lending team is.
The relationship has been great, and they are always respectful of us,"
said Sara Dyer. "But what really makes the difference is how
knowledgeable they are. They understand that small things can stymie the
flipping process because we have so many irons in the fire – we're
working with a construction team, appraisers, real estate agents, so
many people. They know the hoops we're jumping through because they
understand the flipping process, and that has been invaluable to us."

Data Solutions

Reserve Bank of Kansas City

About LendingHome:

LendingHome has designed a better way for people to buy a home. Its
built-from-scratch technology has transformed a slow, painful,
paper-based process into a fast, transparent, online experience. At the
same time, LendingHome is a marketplace lender: institutional and
accredited investors have access to attractive, high-yield real estate
assets. Since it started lending in mid-2014, LendingHome has funded
more than $3 billion in mortgage loans. The company is headquartered in
San Francisco with an office in Pittsburgh, Pa. To learn more, go to
ID #1125207

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