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LendingHome Surpasses $2 Billion in Loan Originations


Press release by LendingHome on 6th December 2017


LendingHome Surpasses $2 Billion in Loan Originations

 

Major Financial Milestone Caps Year of Explosive Growth

 

LendingHome – the largest, fastest-growing mortgage marketplace lender – today announced it has originated more than $2 billion in mortgage loans for homeowners and real estate investors. The first billion of originations occurred over the course of 30 months, while it took just 12 months for the company to originate its second billion. In the process, LendingHome crossed the major milestone of financing more than 10,000 homes nationwide.

 

“Based on these numbers and our fast acceleration, we can confidently say we’ve identified a very real problem for home buyers in the U.S., and our solution is resonating with them,” said Matt Humphrey, co-founder and CEO of LendingHome, who was recently named a HousingWire 2017 Vanguard award winner.

 

“We built – from scratch – a high-tech way for customers to get a mortgage, and internally we’ve gotten far more efficient every single quarter,” Humphrey continued. “That means our customers get a simple, fast, 100% online experience. By comparison, traditional lenders are still asking customers for paper applications and to visit physical branches. So LendingHome clearly presents a preferable, credible alternative.”

 

In October, LendingHome announced a $57 million Series C-2, bringing the total equity raise to $166 million, to extend its market leadership by investing in technology and adding key personnel to its 300-person team. By the end of 2017, LendingHome will have almost doubled in size since 2015.

 

To accommodate the expansion of its team in San Francisco, the fintech startup recently relocated its headquarters to 315 Montgomery Street. It also opened an office in Pittsburgh, Pa., to grow its core mortgage operations teams and recruit top talent from the area’s technology and startup ecosystem, which includes Carnegie Mellon University and the University of Pittsburgh.

 

In recognition that LendingHome stands above other tech startups as a great place to work, investment advisor Wealthfront added the company to its sixth annual “Career Launching Companies List,” published in October, which identifies “ideal places for young people to start their careers.” To qualify for this designation, Wealthfront stipulates that companies must be: “privately held, have a revenue run rate by year end of between $20 million and $300 million, be on a trajectory to grow at a rate in excess of 50% for at least the next three or four years and have compelling unit economics.”

 

“When we look back, 2017 will have been a defining year for our company’s history,” said Humphrey, who was named a 2017 Forbes 30 Under 30 featured honoree in the finance category. “We’ve doubled the business since Q1, and have set ourselves up for a big year ahead. In 2018, we are looking for more smart individuals who may never have considered working in fintech or mortgage. It’s not sexy, but it’s a whole lot of fun disrupting one of the largest markets in the world and helping customers use technology to make the biggest purchase of their lifetime.”

 

About LendingHome:

LendingHome has reimagined – top to bottom – 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 individual investors have access to attractive, high-yield real estate assets. Since it started lending in mid-2014, LendingHome has funded more than $2 billion in mortgage loans. Headquartered in San Francisco, the company has over 300 employees and raised $166 million in equity financing. To learn more, go to www.lendinghome.com or www.lendinghome.com/careers, or click here for a company overview.

 

Contact: Nora Murray

nora.murray@lendinghome.com