From new services and tech to big announcements and achievements, get the latest industry buzz in this update.
Altisource Portfolio Solutions S.A, a provider of real estate, mortgage and technology services, recently announced the launch of a tailored suite of single-family rental (SFR) services for the SFR market leveraging Altisource’s experience in closing over 23,000 singleand bulk asset acquisitions, dispositions and financing transactions.
SFR homes comprise more than one-third of all U.S. rental properties, or roughly 16 million homes, with another 13 million new rental households expected to be formed by 2030. With demand on the horizon, Altisource anticipates that investors and lenders will have an increasing need for SFR vendors that provide scale and consistency.
“As the single-family rental market expands and matures, we see a phenomenal opportunity to help institutional investors, owner-operators and private lenders navigate and grow in the SFR space,” said Ben Hall, VP, Altisource. “Altisource is well-positioned to provide its vertically integrated suite of single-family rental services and innovative solutions tailored to each customer’s strategy. It’s an exciting time for the SFR market, and we continue to listen to our customers’ needs and develop solutions that fully support them.”
Inc. magazine revealed Fund That Flip is No. 42 on its annual Inc. 5000 list. A ranking of the nation’s fastest-growing private companies. Fund That Flip also ranks No. 4 of the fastest-growing real estate companies in the United States and No. 5 in New York.
The list represents a look at the most successful companies within the American economy's most dynamic segment—independent small businesses.
Launched in 2014, Fund That Flip provides short-term loans to experienced real estate redevelopers who buy and renovate residential properties. After origination, Fund That Flip offers accredited and institutional investors the opportunity to purchase fractional shares of the loan and earn an 8-9% annualized yield. Fintech Venture Fund, an Atlanta-based early-stage investor, led the company’s seed round in 2016.
Since then, the company has realized exponential growth, doubling its loan origination volume and customer base each year, and growing revenue by more than 6,018%. This month, Fund That Flip announced an $11 million raise from growth equity firm Edison Partners of Princeton, New Jersey.
Entrepreneurs Roundtable Accelerator, a tech accelerator based in New York, also participated in this round and has been supporting the company since 2015. Fund That Flip will use the additional capital to expand its market share of the growing residential real estate industry.
Wolters Kluwer’s Compliance Solutions business has earned four gold-level and two bronze-level industry awards for its regulatory compliance innovations as recognized by wins from the Globee Awards and International Business Awards programs.
The business generated three Gold-level 2019 Globee Awards for its Vanceo Mortgage solution (Fintech category); OneSumX for Compliance Program Management (Governance, Risk & Compliance category); and CPM Content Transformation (Content Management category).
Those three offerings also garnered three International Business Award “Stevie Awards” including a gold-level win for CPM Content Transformation, and two bronze-level recognitions for Vanceo Mortgage and OneSumX for Compliance Program Management.
“These industry accolades reflect the deep domain expertise, unparalleled resourcefulness and creative ingenuity our regulatory compliance teams have demonstrated in building offerings that provide enriched, actionable regulatory content, and technology that automates workflows, fosters operational efficiencies, and enables banks, insurers, securities firms and other financial institutions to more effectively manage their regulatory compliance obligations,” said Steven Meirink, EVP and GM for the Compliance Solutions business. “We are proud of these achievements and independent recognition of the value that these offerings are delivering for a wide range of clients today.”