Big loans, many of them for renovation
Home-improvement loans made up 37.3% of its lending, purchases 34.5% and refinances 28.2%. Its typical loan was $1.4 million. Similar lenders, here other non-bank or government lenders making between half and twice as many loans, made a typical loan of $395,000. Jumbo loans, those larger than the conforming limit, were 59.2% of its book, against 0.7% at its peers. That pattern may fit lending to investors who buy and renovate homes. It reports no borrower incomes.