Fix and flip lender LendingHome has announced that it has closed $388 million in unrated residential transition loans – its sixth and largest revolving securitization to date.
The transaction includes a two-year revolving period in which principal payoffs can be reinvested in newly originated loans. LendingHome estimates that the deal will support over $1.2 billion in loan originations over the life of the securitization.
LendingHome chief operating officer Arvind Mohan said that the closing of the transaction enables the company “to continue providing highly competitive terms to our real estate investor customers, who are rehabilitating and selling homes or renting them – helping to bring more move-in ready homes to the market.”