By Elizabeth Byrnes
Six years ago, James Herbert was going through the refinancing process. It took him almost five months. His frustrations came up in conversation with his entrepreneur friend, Matt Humphrey, and together they realized that the mortgage industry was in the perfect position to be disrupted. So, LendingHome was started.
Founded in 2013, The San Francisco-based company created a new marketplace platform that reimagined mortgage lending from the ground up, with technology at the core.
LendingHome combines innovative technology with an experienced team to create a seamless, transparent process for borrowers and investors. Speed and efficiency were the driving factors when LendingHome built its own loan origination system from scratch.
Through LendingHome’s 100% online platform, they offer bridge loans designed specifically for residential property investors looking to finance their next fix and flip. LendingHome offers a fast close and reliable access to capital at competitive rates. Their loans feature competitive terms and a transparent process with dedicated help every step of the way.
LendingHome is the subject matter expert in bridge loans, currently offering them in 26 states. Average lending companies offer bridge loans in only five or six.
LendingHome has funded more than $3.5 billion in mortgage loans for over 15,000 projects to become the largest and fastest-growing fix-and-flip lender. Today LendingHome partners with thousands of house flippers across the United States, providing them with reliable financing and expert advice.
LendingHome has more than 300 employees between San Francisco and Pittsburgh and has raised more than $100 million in equity financing. This year, LendingHome centralized its mortgage operations department in Pittsburgh, doubling the number of employees in the area.
“Pittsburgh has deep roots both in technology and finance; these make Pittsburgh the perfect place for LendingHome to build a disruptive mortgage platform,” said Pat Stephenson, Director of Engineering.
Because of this growth, LendingHome recently moved from its 5,000 ft2 office space into a new 20,000 ft2 space in Nova Tower 2. It hosted a grand opening of their new space in May, announcing to the Pittsburgh region
that “We are here! And we’re here to stay!”
“Innovation is at the forefront of everything we do and the Steel City is the perfect location for LendingHome to build on its past success and become the titan of our industry,” said Patrick McLuckie, Vice President of Mortgage Operations.
CEO Matt Humphrey is a proud Pittsburgh native and is thrilled to bring jobs to the area. LendingHome offers appealing jobs to all the fresh graduates in the area, encouraging them to stay in the city. They are also hoping
to entice those from around the country who don’t have roots to come see what Pittsburgh has to offer.