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Marketplace Lender Offering Bridge Loans

A fast-growing company that claims to be the biggest marketplace lender in the mortgage space has announced plans to acquire more than $1 billion in bridge loans.

LendingHome said Tuesday that it
closed on the LendingHome Opportunity Fund II with $100 million in commitments from 40 investors. It will be managed by LH Capital Management.

The San Francisco-based firm — which says it is the largest, fastest-growing mortgage marketplace lender — noted that with its $300 million credit facility, total potential assets are $400 million.

According to the statement, the fund
is committed to buying more than $1 billion in high-yield bridge loans over a two-year period.

“These loans remain largely ignored by traditional banks,” LH Capital Management Senior Portfolio Manager Paul Stockamore stated in the announcement. “They have short durations which allow us to quickly adjust the portfolio composition to changing market conditions and interest rate environments. LendingHome has taken another giant leap toward institutionalizing the asset class of residential bridge loans.”

LendingHome additionally reported that it’s third-quarter loan originations flew past $300 million — more than doubling its first-quarter production. The annual run rate now exceeds $1 billion.

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