Home loan, one of the nation’s largest lenders to real estate investors, reveals that it will change its name in the “coming months” and change its name to Kiavi.
According to a statement shared with CI, the new name, which comes from the phonetic representation of the Italian word “chiave” (meaning “key” in English), embodies the company’s aspirations.
Like Kiavi, the company intends to continue to extend its support to real estate investors, to help them take advantage of the value of “aged” American homes. With over 65% of US homes now over 30 years old, the company prides itself on “serving real estate investors as they renovate and deliver homes ready to move in to countless families.”
Michel bourque, CEO of the company, said they were quite proud of the work they had done to develop a technology platform designed specifically for the current residential real estate investor, and to have “put together a top team to serve our customers. “
“As the company moves to Kiavi, management’s goal is to continue to expand the tools available to investors throughout the real estate investment lifecycle. We believe there is a tremendous opportunity to bring technological and data-driven knowledge to the whole process. “
For many years, real estate investors “have struggled with outdated, inefficient paper processes, some of which still exist today,” the announcement notes.
Home loan says it has “emerged as a leader in the bridge financing space by taking a data and technology-driven approach and dramatically simplifying these outdated processes.”
As Kiavi, the company will continue to leverage AI-enhanced analytics to “empower real estate investors to make smarter decisions while streamlining those transactions with a customized technology platform.” About 93% of Kiavi customer projects “are successfully completed compared to the industry average of 76%,” the update revealed.
The new name “also reflects the significant transformation and growth the company has undergone,” the statement noted.
In 2019, as demand for single-family homes and rentals increased, the company “expanded its offering to include rental loans to help investors engage in loan-ready home buying, remodeling and leasing strategies. to move in, ”the announcement confirmed.
In order to help clients meet one of their most pressing requirements – “locating investment property” – LendingHome launched the real estate market last year.
Earlier this year, the company launched a pilot program “involving portfolio rental loans, including $ 9.3 million in refinancing for a new 56-unit single-family rental community in Florida.”
As stated in the update:
“Under the Kiavi brand, the company will adopt a motto that defines the company’s commitment to providing investors with what they need most: speed to close. Power to scale. Speed is of the essence in real estate investing, and not just when it comes to getting a loan. Timing is everything: buying a property, managing renovations, selling a house or making it available for rent.
The “power to scale” refers to Kiavi’s technology platform and reliability of capital, which investors “can count on to grow their business into the future with confidence,” the update notes.
“As Kiavi, we will build on the knowledge we have gained by funding more than $ 7.8 billion in loans on 35,000 projects across the country. With over 900 million data points to inform our machine learning models, we look forward to continuing to leverage this experience to help real estate investors grow and evolve. The new brand prepares us for our next chapter.
As previously reported, LendingHome is one of the leading lenders for residential investors in the United States, with over $ 7.8 billion in loans issued.
It’s worth noting that earlier this month, LendingHome closed a $ 388 million securitization for residential “bridging” loans – the largest ever for fintech. This was the 6th securitization and the company started sponsoring securitizations in 2019.
Launched in 2013, LendingHome aims to enable professional and novice real estate investors to “quickly and reliably receive the financing they need to make their projects and businesses thrive.”
Using a combination of innovative technology and professional advice, LendingHome “adds flexibility and simplicity to the real estate investment process”.