A marketplace lender says it has exceeded $1 billion in mortgage originations, more than doubled its staff and launched a securitization vehicle.
LendingHome
Funding Corp. opened its doors in October 2013. Since its launch, it has raised more than $100 million in equity financing.
Headcount at the
San Francisco-based peer-to-peer lender has grown from just 85 people back in May 2015 to over 250 employees currently.
On Thursday, LendingHome reported that its life-to-date mortgage originations have surpassed $1 billion. In August, lifetime production was reported at $0.750 billion, putting volume during the intervening four months at around $0.250 billion.
The company, which calls itself “the largest and fastest-growing mortgage marketplace lender,”
attributes its success to high-quality mortgage products and a sophisticated use of technology to improve the mortgage experience.
“The company is rapidly growing its market share by working with creditworthy borrowers that are not served well by traditional lenders across a breadth of mortgage products,” today’s statement said. “LendingHome’s online platform transforms the archaic traditional mortgage process to make it a faster, simpler and more transparent experience than what banks and traditional mortgage lenders offer.”
Other accomplishments touted included adding jumbo loans to its offerings and moving its mortgage servicing in-house.
In addition, LendingHome said it completed three securitizations this year for $126 million and created a master trust as a securitization vehicle, “the first of its kind for marketplace lenders.”
