We saw a record number of loans in markets across the state. Our lenders were excited to have such a variety of projects to review.
Austin, Texas (PRWEB) January 07, 2014
Noble Capital, the premiere private lending network in Texas, finishes the month of November 2013 with another record breaking month in terms of total revenue, lending a record $6.27 million in loans originated, an astounding 92% increase over the previous month.
Although the number of loans increased, so did the loan amounts, meaning that Noble Capital is increasingly funding more complex and higher-end real estate loans.
"This type of seasonality is typical, but we did not expect to see such a strong year-end push. We anticipate December to be more in line with expectations, but we are preparing for another strong month. In recent previous years, the real estate market comes to a slow close by the end of December, but this year we anticipate strong demand into and through the holiday season." - Chris Ragland, COO for Noble Capital
By the end of November, Noble Capital was serving nearly 100 loans in its portfolio.
"We saw a big push from our Borrowers to get deals closed and construction started before the end of the year in order to be ready for the selling season in the spring" - Romney Navarro, VP Lending for Streamline Funding, the wholly owned loan originating subsidiary of Noble Capital
Noble Capital serves as the loan servicer for the privately funded loans which are originated by its subsidiary Streamline Funding, the premier hard money mortgage broker, and originates high quality loans that fit into stringent underwriting guidelines. These first lien trust deed notes are written for 6-36 months and generate up to a 10% interest return to participating lenders.
"We saw a record number of loans in markets across the state. Our lenders were excited to have such a variety of projects to review." - Edward Hart, Funding Manager of Noble Capital.
For more information about Noble Capital and its Private Lending Network, please visit http://www.noblecapital.com/about/media/.
About Noble Capital:
Noble Capital was formed in 2004 to service & manage lender relationships. The mission of Noble Capital is to be Texas' premiere Private Real Estate Lending Platform, providing quality lending opportunities to members of our Private Lender Network.