LendingHome was founded in 2013 and is the second startup business founded by Matt Humphrey; the firm announced its new consumer loan mortgage product at LendIt USA 2017; since its initial launch, the business has originated over $1 billion in mortgage loans with a focus specifically on fix and flip property owners; the new product will expand the capabilities of the firm's technology by offering consumer mortgage loans to first time homebuyers; the product expansion is a natural extension of the business and talking with Forbes, Humphrey says it has been a part of the firm's plan since founding the company. Source
Groundfloor has partnered with IRA Services to offer clients investment through tax-deferred retirement accounts; Groundfloor is the US market's first and only real estate platform with all of its investments open to non-accredited investors; through IRA Services, which provides a unique platform for facilitating investment in alternative finance, investors can now invest in Groundfloor's range of real estate offerings, achieving returns of 5% to over 20% in tax deferred retirement accounts; Groundfloor's P2P real estate lending platform has been growing substantially with $16.5 million in loans originated in 2016, an increase of 621% from 2015. Source
Revolut will now offer its customers investment at property platform Bricklane; investors can invest in Bricklane tax efficient individual savings accounts for a minimum of 100 British pounds ($122); Bricklane investors receive rental income and capital appreciation from the properties they invest in. Source
The primary focus in the online real estate market has been on consumer and residential products however a significant opportunity appears to exist in commercial real estate with the size of the market valued at approximately $3.5 trillion; HousingWire provides a recap of LendIt's commercial real estate panel featuring the three primary companies active in the space including: Cadre, Money360 and Plum Lending; panelists discussed the success of the their businesses and the main challenges for new entrants including the complexities of data sets and the lack of technology solutions for commercial market services. Source
"Rocket Mortgage has forever changed the way people think about getting a mortgage," said Jay Farner, CEO of Quicken Loans; for 2016 Quicken Loans has reported record originations of $96 billion with $7 billion contributed by Rocket Mortgage which has been originating loans for 11 months; consumers have reported high demand for the Rocket Mortgage product which provides a much simpler process for homeowners by digitally verifying income, credit, assets and property valuations. Source
LendingHome will now offer an online mortgage product for consumers; LendingHome was launched in 2014 and has been funding short-term bridge and rental loans for property investors; the platform has funded over $1 billion in loans; features of the product include: an automated process, real time rates, loan guidance and real estate agent connectivity. Source
AlphaFlow has announced the launch of AlphaFlow Managed Portfolios; created by Ray Sturm, co-founder of RealtyShares, AlphaFlow has been managing real estate investments that allow investors to invest in loans across multiple real estate crowdfunding platforms since its launch in 2015; the introduction of the AlphaFlow Managed Portfolios is an effort to better meet the needs and demands of the firm’s investors; the new platform will provide investors with a real estate portfolio of 75 to 100 real estate loans; the portfolio will be driven by AlphaFlow Advanced Analytics and targets returns of 8% to 10% with a 1% fee on assets under management. Source
StackSource has launched an online lending platform for commercial real estate; the company provides a marketplace for connecting owners and developers with banks and non-bank lenders for credit financing; the multi-lending platform connects borrowers with lenders through the StackSource proprietary lender database; StackSource was developed from the TechStar accelerator program and was founded by Tim Milazzo. Source
LendingOne has launched a lending system for fix and flip lenders in the real estate industry; according to the firm's press release, the platform provides originators with advanced technology to streamline all aspects of the loan-underwriting, closing and servicing processes; with the launch, private lenders can now utilize the LendingOne system to offer more competitive pricing for borrowers; through the system lenders can also subordinate a portion of fix and flip real estate loans. Source
Online real estate investing marketplace RealtyMogul has announced it will now allow self-directed IRA investment through its MogulREIT I; provides the benefit of passive investment income through a retirement account; MogulREIT I will also now allow for automated dividend reinvestment which can help add to compounding returns for IRA accounts; the product has also announced the inclusion of two new property investments located in San Antonio, Texas and West Chester, Pennsylvania. Source