The RETech (short for real estate technology) category is absolutely booming, and there are offerings for retail and institutional investors alike, including Roofstock, Money360, Cadre, Unison and many more. Atlanta-based Groundfloor can be counted in this category and has just announced its new Loan Origination Network, signaling its ongoing expansion. Because real estate represents around 6% of the US GDP (as of 2016), the RETech sector is one to keep an eye on.
In response to overwhelming investor demand, Groundfloor, the only real estate crowdfunding platform that is open to non-accredited investors, today announced the launch of its Loan Origination Network for mortgage brokers and third-party originators interested in tapping additional real estate loan opportunities. The company has opened up its innovative real estate financing platform to brokers nationwide who now have the opportunity to provide customers with low cost capital for fix and flip projects.
Key benefits for mortgage brokers and third-party originators:
- Competitive rates from six percent
- Unique deferred payment option
- Low documentation
- Closing in as little as seven days
- Costs rolled into loan principal
- Discounted fees for high volume partners
- Partners assigned dedicated Business Development Manager
“Our retail investor demand is growing at a rate of more than 15 percent per month, and with our first institutional buyer on board, we are better positioned than ever to provide our mortgage broker clients with financing that addresses their clients’ demand for low cost capital as well as their emerging business needs,” said Brian Dally, co-founder and chief executive officer, Groundfloor. “We are also thrilled to have Debora Valentine on board as she is an experienced leader with a proven record of increasing sales and profits. She is the ideal executive to build our new Loan Origination Network, which will be critical in helping us meet national demand.”
Mortgage industry veteran Debora Valentine joins the team as Senior Vice President, Business Development. Valentine brings more than 25 years of experience in sales to Groundfloor’s senior leadership team.
At Groundfloor, Valentine will lead the business development team tasked with building the Loan Origination Network. During her career, Valentine has held various executive-level and sales positions for companies such as National City Bank, PCFS/Provident Bank, Frontline Capital Partners & Ford Consumer Finance. She has helped various organizations from startup to Fortune 1000 companies exceed their revenue goals and has been responsible for working with and developing strategic and tactical processes in a variety of business channels.
“I’m excited to join Groundfloor and help the team scale and achieve its sales goals, said Debora Valentine, senior vice president, business development, Groundfloor. “Groundfloor’s unique business model brings something different to the real estate investment market and is offering a growing number of diversified products to meet the needs of borrowers and investors.”
Groundfloor earned a historic qualification by the SEC in August 2015 to sell private real estate debt investments to non-accredited investors. To date, Groundfloor lends in 27 states, is growing its retail base at a rate of over 15 percent per month, has sold $40 million worth of securities on its platform and has raised $8.4 million in venture capital from leading fintech investors.
Mortgage brokers can learn more about Groundfloor, qualifications and can apply at http://www.groundfloor.us/brokers.