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“The success of our crypto mortgage over the past few months serves as a testament to our ability to pioneer and create a unique solution for the crypto community,” said Josip Rupena, founder and CEO of Milo. “We have incredible momentum and see a fundamental need to help individuals diversify their wealth to generate real world yield through real estate. In today’s volatile environment, our crypto mortgage is an excellent solution for clients who wish to continue to own crypto and invest in real estate, all while keeping the potential price appreciation of both.”

Earlier this year, Milo became the first to offer a mortgage that bridges the world of digital assets with traditional finance by allowing investors to qualify with Bitcoin, Ethereum, and USDC. To purchase property, clients can pledge their crypto with regulated and insured custodians (Gemini and Coinbase) and finance up to 100% of their purchase with no down payment required. Those who qualify can take advantage of low interest rates and a 30-year crypto mortgage up to $5 million.

“Bridging the gap between traditional finance and crypto is one of the most important pieces of the puzzle to make cryptocurrency and blockchain more ubiquitous in our daily lives,” said Miami Mayor Francis Suarez. “With their mortgage product, Milo has already proven that the future of finance will serve to build wealth just like the financial tools of the past.”

Real estate is a critical component to build wealth over time and many crypto consumers have been denied the opportunity and have resorted to riskier ways of generating yield as a result.

“Given the current state of the market, we’re extremely proud that we have not had any margin calls or negative counterparty exposure, all while continuing to originate mortgages,” said Rupena. “As a licensed and regulated entity, we take our responsibility seriously to ensure our clients’ crypto is safe and returned when requested. Milo has added over 20 team members since launch and we look forward to releasing an exciting crypto refinance and non-rehypothecation option shortly.”

During this time, Milo has also provided thousands of borrowers with crypto mortgage pre-qualifications, designed to preemptively let borrowers know how much they can afford. The company’s other mortgage solution for U.S. and foreign nationals has already originated over $100 million in loans and has seen applicants from over 90 countries. Milo is a direct lender that is licensed, audited, insured and can stand behind its commitment to lend to its clients with certainty of closing.

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The post Milo Originates Record $10 Million in Crypto Mortgage Loans first appeared on FinTecBuzz.

Spark Real Estate is led by top-producing agent David Haghighi, who has a decades-long reputation for getting fast results and steering his clients in the right direction. With a background in marketing and business law, as well as construction expertise, Haghighi believes that real estate is the best way to build wealth and establish a legacy. To date, he’s served more than 250 families in Carlsbad, San Marcos, Escondido, and San Diego.

Partnering with Side will ensure Spark Real Estate remains at the forefront of an evolving real estate market, while allowing its agents to continue delivering premium services to their clients. Spark Real Estate agents are fully supported by a one-of-a-kind premium brokerage platform, which provides transaction management, property marketing, lead generation, business growth opportunities, vendor management, and infrastructure solutions.

“The Spark team is comprised of energetic allies dedicated to helping clients make sound investments that deliver for generations to come,” Haghighi said. “Teaming up with Side to manage and optimize our back-end operations just made sense, because it allows us to use our time to remain laser-focused on servicing clients.”

Side is led by experienced industry professionals and world-class engineers who develop technology designed to improve agent productivity and enhance the client experience. Based on its belief that homeownership is a fundamental human right, Side is on a mission to improve the public good by providing top-performing real estate agents, teams and indie brokerages with the best system, support, service, experience, and results.

The post Spark Real Estate and Side Light up the San Diego Real Estate Scene with a Brilliant Partnership first appeared on FinTecBuzz.

Coleman brings more than 15 years of experience in corporate treasury within the mortgage industry, and made an immediate and important impact upon joining PeerStreet. Prior to Coleman joining, much of PeerStreet’s tech investment was customer-focused, building intuitive and comprehensive platforms and new products. Coleman’s hire helped bring a renewed focus on internal technology innovation, transforming many of the company’s more manual financial operations processes into automated ones for greater efficiency and accuracy.

This work has included launching APIs for PeerStreet’s purchasing and wire processes, saving time for the company and clients alike. She spearheaded automating settlement statements to further improve the company’s loan purchasing across the board. She also played an instrumental role in the company securing $60 million in Series C funding and $4.25 billion in capital commitments in the latter half of 2019.

“It’s hard to overstate the impact Ellen has had in a relatively short time here. She quickly became a respected leader throughout the company and we are lucky to have her leading our finance efforts,” said Brew Johnson, co-founder and CEO of PeerStreet. “We’re looking to build upon the momentum she’s already brought to our financial operations, bringing more automation and innovation to every touchpoint of our business.”

Coleman came to PeerStreet with a strong track record in both treasury operations and debt capital raising, demonstrating proven success with building finance and treasury teams, cash management and wire operations, and establishing new processes to support business objectives, particularly for enabling growth. Coleman’s experience will continue to be invaluable for PeerStreet as the company scales and expands both the overall platform as well as its finance and credit operations.

“It’s been an incredibly rewarding year at PeerStreet, from marquee achievements like our Series C raise to the less sexy, behind-the-scenes improvements to financial systems, modeling, and reporting,” said Coleman. “I continue to be inspired by the teams and individuals I get to work with on a daily basis, and am so excited to see what new heights we can reach together in 2020.”

Prior to joining PeerStreet in 2019, Coleman held positions as Managing Director at Countrywide Financial Corp, Treasurer at Stearns Lending, and Executive Vice President and Treasurer at both Nationstar Mortgage and Homeward Residential, Inc.

PeerStreet’s growth recently earned the company a place within the top 25 in Deloitte’s 2019 Technology Fast 500 Ranking of fastest-growing technology companies. With recent recognition for both its award-winning culture and technological innovation, PeerStreet has continually adapted as it has grown to capitalize on a clear need in the mortgage finance space for easy, transparent real estate debt investing.

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