Prestigious Honor Validates Company’s Use of Technology to Re-engineer Homebuying
SAN FRANCISCO–(BUSINESS WIRE)–February 13, 2018–
LendingHome – the largest, fastest-growing mortgage marketplace lender – today announced its debut on the Forbes FinTech 50 list, which spotlights “the top companies shaping the future of your money.” This is the magazine’s third FinTech 50 list, and the Forbes staff spent months pouring over nominations, interviewing hundreds of executives, and “then winnowing our choices down to the best.”
In 2013, LendingHome set out to modernize an antiquated industry in which mortgages are still processed by hand, requiring stacks of paper and hours of human labor. LendingHome created a proprietary technology platform that makes getting a mortgage simple, fast, and entirely online. As a result, LendingHome mortgages are significantly less expensive to originate, and those savings are passed on to homebuyers in the form of no hidden charges, and lower rates and fees.
“We are so honored to receive this recognition from Forbes,” said Matt Humphrey, LendingHome co-founder and CEO. “When Forbes first introduced the FinTech 50 in 2015, I knew we could earn a spot on this list. Our goals were audacious, but I had every confidence we were building a world-class company that could stand shoulder to shoulder with some of the biggest fintech startups.”
In the past year, LendingHome has been on a tear. Humphrey secured $ 57 million in venture capital funding, which brings LendingHome’s total equity to $ 166 million raised from prominent fintech investors including Foundation Capital, Ribbit Capital, and Renren. Also in 2017, LendingHome surpassed the $ 2 billion mark in total loan originations.
Mortgage origination aside, LendingHome is also a marketplace for institutional and accredited investors who purchase whole or fractional loans through borrower dependent notes. These investors have already received returns of over $ 960 million in principal and earned more than $ 86 million in interest.
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 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 offices in Columbus, Ohio, and Pittsburgh, Pennsylvania. To learn more, go to www.lendinghome.com or www.lendinghome.com/careers.
Nora Murray, 419-250-0016