US based LendingHome, a Major Lender to Real Estate Investors, to Soon Rebrand as Kiavi
LoansHome, one of the country’s largest real estate investor lenders, announces that it will change and rename its name in the “coming months” Kiavi.
According to a press release shared with CI, the new name, derived from the phonetic representation of the Italian word “chiave” (meaning “key” in English), embodies the company’s ambitions.
As Kiavi, the company intends to expand its support for real estate investors to help them unlock the value of America’s “old” homes. With more than 65% of American homes now over 30 years old, the company prides itself on “helping property investors renovate and delivering ready-to-move homes to countless families”.
Michael Bourque, CEO of the company, noted that they are quite proud of the work they have done to create a technology platform specifically designed for the current residential real estate investor and that they have “put together an industry leading team to serve our customers serve. ”
Bourque added:
“In the company’s transition to Kiavi, management’s goal is to further develop the tools available to investors throughout the real estate investment lifecycle. We believe there is a tremendous opportunity to bring technology and data-driven insights into the entire process. “
For many years, real estate investors struggled with “antiquated, inefficient, paper-based processes, some of which still exist today,” the press release said.
LendingHome claims that “by taking a data and technology-driven approach and drastically simplifying these legacy processes, it has become a leading provider of bridge finance.”
As Kiavi, the company will continue to use AI-powered analytics to “empower real estate investors to make smarter decisions while streamlining those transactions with a bespoke technology platform.” Around 93% of Kiavi’s customer projects “end successfully compared to the industry average of 76%,” according to the update.
The new name “also reflects the significant transformation and growth that the company has gone through,” the press release said.
In 2019, as demand for single-family homes and rental apartments increased, the company “expanded its offering to include rental loans to help investors develop strategies to buy, renovate and rent ready-to-move homes,” the announcement confirmed.
In order to support customers with one of their most urgent requirements – the “finding of investment properties” – LendingHome introduced the real estate marketplace last year.
Earlier this year, the company launched a pilot program that includes “Portfolio Rental Loans, including a $ 9.3 million refinancing for a new 56-unit family home 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 the deal. Power to scale. Speed is crucial when investing in real estate and not just when borrowing. Timing is of the utmost importance across the board: buying a property, managing renovations, selling a house, or making it available for rent. “
“Power to scale” refers to the technology platform from Kiavi and the reliability of capital that investors can rely on to expand their business with confidence in the future, “says the update.
Bourque further noted:
“As Kiavi, we will build on the insights we’ve gained by funding over $ 7.8 billion in loans for 35,000 projects across the country. With over 900 million data points supporting our machine learning models, we look forward to building on that experience to help real estate investors grow and scale. The new brand makes us fit for our next chapter. “
As previously reported, LendingHome is one of the leading home equity lenders in the United States with over $ 7.8 billion in loans.
Noteworthy is the news that earlier this month LendingHome closed a $ 388 million securitization for residential real estate “transitional loans” – the largest ever for the fintech. This was the sixth securitization and the company began sponsoring securitisations in 2019.
LendingHome was launched in 2013 to make it easy for professional and first-time real estate investors to “quickly and reliably get the funding they need to keep their projects and businesses going”.
With a combination of innovative technology and professional advice, LendingHome “adds flexibility and simplicity to the property investment process”.