PeerStreet runs through a thorough due diligence process on the loans we put on the site and on our origination partners.
For lender partners, we:
- Review track records
- Review financials
- Review licensing and adherence to state lending laws
- Run background checks
- Review legal and underwriting processes
For loans, we:
- Perform independent underwriting of all loans using a combination of manual processes as well as big data analytics
- Review an independent valuation (BPO/Appraisal)
- Ensure each loan complies with PeerStreet’s underwriting guidelines
- Review legal documentation
All loans posted for investment have been through PeerStreet’s big data analytics and the above diligence process before being offered. Occasionally, after a loan is posted, we receive additional information and/or documentation that leads us to do a more in-depth analysis on the loan. Rarely does this information raise concern for the loan quality and rather serves more as an ongoing performance update.