US #

loanDepot #

LoanDepot

• LoanDepot sells mortgage and non-mortgage lending products.
• In March 2017, the company introduced technology to automate the loan process, allowing customers to apply for a mortgage without talking to a loan officer.
• In January 2018, the company announced two products:
  • Mello, a home improvement unit to allow contractors to offer financing to customers,
  • Mello Home, a platform to connect pre-approved buyers to realtors.
• In September 2019, the company partnered with Century 21 Redwood Realty to form a new mortgage platform for the mid-Atlantic area, Day 1 Mortgage.
• loanDepot went public on the New York Stock Exchange on February 11, 2021 under the ticker symbol LDI.

PennyMac Financial Services #

PennyMac Financial Services, Inc.

• PennyMac Financial Services, Inc. is an American residential mortgage company.

• The company’s business focuses on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.

• Its subsidiary - PNMAC Capital Management, LLC. manages the PennyMac Mortgage Investment Trust (NYSE: PMT), a mortgage REIT.

• The company conducts its business through a consumer-direct model, which relies on the Internet and call center-based staff to acquire and interact with customers across the country.

• The company more than doubled its annual revenue in 2020, mainly attributable to favorable business conditions due the low interest rates resulting from the federal government’s efforts to fight the economic impact of the COVID-19 pandemic.

• PennyMac conducts business in three segments, namely mortgage production, mortgage servicing (together, production and servicing comprise mortgage banking activities), and investment management.

  1. The company’s mortgage production focuses on the origination of first lien and government-backed or guaranteed mortgage loans through three methods:
     • Correspondent Lending. PennyMac acquires newly originated loans from small banks and independent originators.
     • Consumer Direct Lending. The retail lending business originates new prime credit quality, first lien residential conventional and government-insured mortgage loans on a national basis to allow customers to purchase or refinance their homes.
     • Broker Direct Lending. The company obtains loan application packages from nonaffiliated mortgage loan brokers, then underwrites and funds the resulting loans for sale to PennyMac Mortgage Investment Trust or investors.
  2. The loan servicing segment performs loan administration, collection, and default management activities.
  3. The investment management segment consists of management fees received from the PNMAC subsidiary for its management of the PennyMac Mortgage Investment Trust.

Rocket Mortgage #

Rocket Mortgage, LLC

• Subsidiaries - Rocket Mortgage, Amrock, Amrock Title Insurance Company, Fathead, Nexsys Technologies, Lendesk, Edison Financial, Rocket Homes, ForSaleByOwner.com, Rocket Loans, Rocket Auto, Core Digital Media, LowerMyBills.com, Rock Connections, Rock Central, Rocket Innovation Studio, Rock Ventures (As a holding) Rocket Innovation Studio,

• Rocket Mortgage, LLC (formerly known as Quicken Loans LLC) is a mortgage loan provider.

• Unlike other large mortgage lenders that depend on deposits, Rocket Mortgage relies on wholesale funding to make its loans and uses online applications rather than a branch system.

• Amrock and One Reverse Mortgage are also part of the Rocket Mortgage Family of Companies.

• In August 2018, Quicken Loans parent Rock Holding acquired Dictionary.com and Thesaurus.com from IAC.
• On August 6, 2020, Rocket Companies, Inc. went public under the symbol RKT, raising $1.8 billion.
• In 2015, Quicken Loans created Rocket Mortgage, the first lender to perform electronic closings (eClosings) in all 50 states.
• On May 12, 2021 Quicken Loans announced that it would be rebranded to Rocket Mortgage, by July 31, 2021.

Groundfloor #

GROUNDFLOOR Finance Inc.

• Groundfloor is an American real estate investing and lending marketplace.

• In August 2015, Groundfloor became the first real estate crowdfunding company to achieve SEC qualification under Regulation A+, since the regulation became operable through the JOBS Act.

• Groundfloor was purposely built to serve self-directed investors instead of institutional investors.

  • Its marketplace provides short-term, high-yield returns backed by real estate.
  • Typical loans return 12 percent annually on a six-to-12-month term.

• Groundfloor targets residential-development projects.

• They use a proprietary loan grading algorithm in addition to application review to assign a loan a letter grade and corresponding rate.

• Loan terms generally range from six to 12 months and financing can be in a senior or junior position.

UK #

Assetz Capital #

Assetz Capital Limited

• Assetz Capital is a British peer-to-peer or “marketplace” lender which allows private and institutional investors to lend money directly to small businesses (SMEs) and property developers.
• Regulation
  • Assetz Capital received full FCA authorisation in September 2017.
• Risk
  • If a borrower fails to repay a loan a lender risks losing all or part of their investment.
  • Assetz Capital take asset security from the borrower to mitigate against losses to the lenders.
  • It is important to differentiate between loan defaults and losses, the difference being the recovered capital via the security taken against the loan when it was first extended.
  • Assetz Capital uses a recoveries team to recover capital through security taken on a loan.
• Investment accounts
  • Assetz Capital has a number of investment accounts.
  • Target rates of interest vary based on the types of loans they invest in, security types, diversification of the investment, ease of access to funds in normal market conditions, and any additional cover such as a provision fund.

LandlordInvest #

LandlordInvest Limited

• LandlordInvest is a peer-to-peer lending platform which enables people to invest in residential buy to let mortgages and bridging loans.

• The platform’s target audience is buy-to-let and bridging loan borrowers with a near perfect credit score, that are having difficulties with raising finance from traditional lenders due to a one off adverse credit event in the last five years.

• LandlordInvest is an online marketplace which matches landlords looking for financing with investors.

• The platform provides secured borrowing to landlords seeking between £30,000 and £750,000.

• The minimum investment amount is £1000.

• Investors lend money to eligible borrowers and receive money from the interest charged on loans.

• LandlordInvest covers the costs of running the platform by charging borrowers an arrangement fee on each funded loan and by deducting a servicing fee from monthly interest payments to investors.

Landbay #

Landbay

• Landbay is a UK Financial technology company that operates a mortgage lending platform to allow institutions to fund residential mortgages in a ‘Mortgage-as-a-Service’ construct.
• Landbay was originally launched in 2014 as an online peer-to-peer lending platform enabling investors to invest in the United Kingdom’s buy-to-let mortgage market.
• The business model matches investors’ funds to buy-to-let mortgages, thus all loans are secured by residential real estate.
• In 2019 Landbay stopped allowing individual investors to use its services and has since been institutionally funded only.
• Landbay is regulated by the FCA Financial Conduct Authority.

LendInvest #

LendInvest

• LendInvest is a non-bank mortgage lender in the UK, and is a property lending and investing platform.

• As an alternative Fintech lender in the property market, LendInvest provides finance to property professionals and small and medium-sized businesses (SMEs) around the UK.

• It also makes it possible for individuals, corporates and institutions to invest in secured property loans originated and underwritten by its mortgage team.

• Products

  • LendInvest provides short-term financing options, and Buy-to-Let mortgages for UK-based property investors.

• LendInvest is a public company and is backed by Atomico, the European venture capital investment fund co-founded by Niklas Zennström, which invested £17 million in the company in March 2016.

  • LendInvest became a public company in July 2021, listing on the London Stock Exchange’s AIM.