In line with our goal of industry-leading transparency, Fund That Flip provides stakeholders and lenders with relevant statistics related to loan origination and performance. You will also find updates related to technology and offering enhancements herein.
In April, we originated 374 loans and funded $159 million in origination volume — another record — our strongest month since launching in 2014. For perspective, in 2020, we originated $150 million in loans total.
As of April 15, 5.67% of our book was 30 days or more late on payments. We are continuing to increase our origination volume while monitoring the situation in each market closely. You can read more about our approach to COVID-19 here: Lender COVID-19 FAQs. As always, we work with and support our borrowers to keep their projects moving forward, on track, and current on interest payments. We also continue to build a strong forward pipeline, meaning we'll remain selective when deciding which projects to fund and markets to enter.
Learn more about how we handle loans that are 30+ days late in an episode of Investor Insights here.
| Jan-22 | Feb-22 | Mar-22 | Apr-22 | |
| Days Late | $% of Book | $% of Book | $% of Book | $% of Book |
| 30-60 | 0.18% | 0.23% | 1.42% | 1.35% |
| 61-90 | 1.00% | 0.13% | 0.19% | 1.06% |
| 90+ | 2.70% | 3.10% | 2.45% | 1.39% |
| Foreclosure | 0.46% | 0.35% | 0.38% | 1.87% |
| Total | 4.34% | 3.81% | 4.44% | 5.67% |
Success Stories
We are constantly impressed by the quality of work our customers are completing with their funded projects. Check out our featured flips, to see before and after photos of the homes and communities we're helping to improve.
Thanks for your continued support. We appreciate your business and feedback!
Email us at invest@upright.us to schedule a call with a member of our Investor Relations team, ask questions, or provide feedback.