LOS ANGELES, Calif.–November 13, 2017– PeerStreet, an award-winning platform for investing in real estate backed loans, is excited to announce that it is aggressively expanding available resources and tools for private real estate lenders on its platform.
PeerStreet is a secondary marketplace that provides capital and technology for private lenders to help them compete more effectively against national lenders who have an increasingly pronounced presence in certain local markets. PeerStreet lenders can now access detailed Property Valuation Reports which allow lenders to analyze property data and adjust property details to generate highly accurate valuations that reflect current or future market conditions. The data that makes this possible is licensed by PeerStreet from HouseCanary, a leading provider of real estate valuation data and analytics. PeerStreet is providing this service to our lenders free of charge through our Lender Platform.
“Currently, our platform is a robust secondary marketplace for lenders. We’ve purchased over half a billion in loans from local lenders, but we see great value in developing practical tools to grow lenders’ businesses beyond providing capital to them,” said Brew Johnson, Co-Founder and CEO of PeerStreet. “In addition to providing lenders granular data via valuation reports, we also offer standardized loan documents, submarket data and potential borrower leads.”
“The valuation reports are very valuable to me and my business,” said T.R. Hazelrigg IV, President & Co-Founder of Avatar Financial Group. “The tool is helpful in confirming our value assumption, which I’ve been able to utilize with properties we are currently evaluating. I will run these reports moving forward to complement my analysis of investments.”
“This is exactly what we want to support,” commented Brett Crosby, Co-Founder and COO of PeerStreet. “By supporting the ecosystem of private lenders through capital, technology and resources, we want to make lending local again. Our business model is unique in that it isn’t competitive to lenders. Our presence benefits the existing ecosystem’s participants. We’re approaching this space with a model I’ve applied previously in my tech career at Google and even before that. This is just the beginning of PeerStreet unveiling tools to help local lenders become more competitive in their markets.”
PeerStreet onboards new lenders every week and is looking to expand relationships with private lenders who are experts in their regions. Today, PeerStreet has transacted with over a hundred lenders in over 34 states. PeerStreet’s team of real estate professionals can help lenders determine if their loans fit within PeerStreet’s lending criteria.
Look for PeerStreet at the AAPL Conference in Las Vegas, Booth #308 for more information about how to work with PeerStreet.
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