Fix and Flip

Upright Introduces DSCR Loans For Real Estate Investors

Posted on by TMN Editor
Upright has introduced debt service coverage ratio rental loans available to real estate investors. DSCR is a measure of the cash flow available to pay back debts. A DSCR loan is a non-QM loan available to investors that allows lenders to judge qualifications without verifying personal income by focusing on rental income. “Many customers at first come to us for our fix and flip loans. Often their exit strategy was to turn them into long-term rental properties, and we have previously had to refer them elsewhere. There was a piece of the puzzle missing,” Upright’s VP of Revenue, Brendan Bennett, said in a statement. “By introducing DSCR Rental Loans, we are better able to serve the needs of more customers…

Alex Urmersbach Joins Kiavi As CFO

Posted on by TMN Editor
Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced. In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions. “I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he said. “I look forward to working with the Kiavi team to build on its already strong foundation, and am deeply committed to the organization’s mission of providing real estate investors with the capital they need to scale their businesses and revitalize aged homes across the country.” Kiavi is a private lender focusing on residential real estate investors, with more than $13 billion in funded loans.…