Residential transition loans are used to rehab investment properties, and Backflip will use Setpoint-backed financing to offer them to its membership
Since launching in 2021 as the 'Stripe of real estate,' Setpoint has expanded into additional asset-backed lending lines including auto, consumer and small business
Kiavi has packaged up more than $5.1B in 'residential transition loans' for sale to investors. The latest deal — the first to be evaluated by a credit rating agency — was bumped up to $400M
Kiavi upsizes its 16th securitization to $350M and says oversubscribed offering is company's biggest since November 2021, bringing total issuance since 2019 to $4B
After unloading $218M in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals 'are certainly tough right now'