Loan Funder LLC Review 2026: 9,296 Investor Loans, 0 Complaints

Which company is Loan Funder LLC

“Loan funder” is also a job title (a loan funder is the person who releases the money at a closing), so most search results for the phrase are job ads. This page is about the company. The 2025 HMDA filer list names it Loan Funder LLC, LEI 254900RUCO27MVGTO768, and the same filer appears in the 2023 and 2024 lists. It is not on the 2022 list, so 2023 is the first year of the public loan file.

Where is it? The only dated address we could attach to the company is in California regulator documents: a settlement agreement of April 19, 2019 says the respondent is “a limited liability company, with a principal place of business at 645 Madison Avenue, 19th Floor, New York, NY 10022.” That is Manhattan. The search results that call it a Brooklyn lender are describing where its loans are, not where it sits: New York City’s property records show 1,069 of its 2,316 recorded mortgages on Brooklyn lots, against 73 on Manhattan lots (our tabulation, below). We found no current address on its own website.

That website, loanfunderusa.com, is titled “Loan Funder USA” and carries the description “Lending Portal.” When we opened it on October 21, 2026 it was a login screen with a link to request access, and no loan programs, rates, licence numbers or address. A different site that turns up in searches, nlcfund.com (titled “Direct Private Money Lender | No Limit Capital Fund”), is a different brand. One thing links the two: a code comment in the login page says a single advertising pixel “is used across ALL brand domains (loanfunderusa.com, nlcfund.com, broker white-label hosts).” That says the two sites share tracking code; it does not say who owns either company, and we draw no ownership conclusion.

Three unrelated names also come up when you search the phrase. The CFPB database has complaints under FundLoans Capital (4) and Community Loan Fund of New Jersey, Inc. (3). Neither is this company.

One more name in the record: on New York City mortgages the lender is usually written “LOAN FUNDER LLC, SERIES” followed by a number, for example Series 46850. Courts do the same: a Virginia appeal is captioned “Loan Funder LLC, Series 715” and a New York foreclosure “Loan Funder, LLC, Series 8800.” The files show that individual loans sit in numbered series of the company. We did not find a document that explains the structure, so we cannot say who holds a given loan beyond what is recorded.

What the federal loan file shows: 2023 to 2025

HMDA obliges lenders to report each application and loan. “Originated” means HMDA action taken 1. All figures are from the public loan-level file for LEI 254900RUCO27MVGTO768, tabulated by us; the origination counts and dollars match the totals in the FFIEC data browser’s aggregation service. In all three years every origination was on an investment property (occupancy code 3) and flagged business-purpose.

Three readings:

• The book shrank in 2025 after the application flow more than doubled in 2024. Applications went from 10,938 to 23,955 to 20,275. Closed loans fell 13.0% in 2025 (our arithmetic). The share of applications that closed was 57.3% in 2023, 44.6% in 2024 and 45.9% in 2025 (our arithmetic).
• The mix moved toward 30-year loans. Short-term loans were 56.0% of 2023 originations, 57.8% in 2024 and 52.0% in 2025 (our arithmetic). Their median rate eased from 11.0% to 10.75%; the 30-year median fell from 8.18% to 7.5% to 7.40%, which follows the market more than the lender.
• “Approved, not accepted” disappears. The 2023 file has 1,393 such records and the 2024 and 2025 files have none. HMDA does not say why; a change in how the lender codes files would produce the pattern, and so would a change in how it works with brokers. Treat year-to-year closing rates with that in mind.

“Short-term” on this page means the loan carries a balloon payment (HMDA field balloon payment = 1). All 4,835 of those loans also carry interest-only payments. “30-year” means a 360-month term. The two groups add up to all 9,296 loans in 2025 with no remainder.

Two products in one filing

This is the table to read before you read any rate. It splits the 2025 originations by term.

What this says. The gap between the two medians is 3.35 percentage points (10.75% less 7.40%, our arithmetic). The 12-month loan is the profile of a bridge or fix-and-flip loan: interest only, a lump sum due at the end, a lower loan-to-value ratio on a pricier property. The 30-year loan is the profile of a rental (DSCR) loan: smaller, fully amortizing in 93% of cases, and 74% loan-to-value at the median. HMDA has no product field, so these are our labels from the loan terms, in the same way our DSCR lender ranking counts 4,461 DSCR-type loans for the company and our hard money lender ranking counts 4,835 short-term loans. The channel field says that two of every three loans arrived through someone other than the borrower applying directly; HMDA does not say whether that someone is a broker or a correspondent seller.

A worked example (our arithmetic). A borrower with the median short-term loan, $295,000 at 10.75% interest-only, pays $2,642.71 a month in interest and $31,712.50 over 12 months, with the whole $295,000 due at maturity. A borrower with the median 30-year loan, $195,000 at 7.3967% fully amortizing over 30 years, pays $1,349.70 a month. HMDA reports none of the rest of the cost: for every one of the 9,296 loans the points, origination charges, total loan costs and prepayment-penalty term are blank, which is normal for business-purpose loans. So these rates are a floor on the cost, not the cost. For fees, extension charges and default interest on short-term loans see hard money loan rates 2026.

Rate and size by purpose, loan size and building

The purpose rows are the clearest sign of the two businesses: 84.5% of purchase loans are short-term, and 92.7% of cash-out refinances are 30-year loans (our arithmetic). The unit rows mostly reflect that mix, not a price for the building: more purchases are one-unit houses.

Size matters at the bottom: loans under $100,000 had a median short-term rate of 10.99% against 10.5% for $250,000 and up, and a 30-year median of 7.575% against 7.28% to 7.3%. Above $250,000 the price barely moves. Loans of $1 million or more were 498 in number and 369 of them short-term.

Where it lends: 44 states and DC, and New York City first

HMDA shows loans in 44 states and the District of Columbia. Three states make 43.2% of the book (4,012 of 9,296, our arithmetic).

The state medians are not state prices; they follow the mix. Illinois, Ohio, Indiana and Connecticut sit near 8% because more than half of their loans are 30-year loans, while New York, New Jersey and Florida are near 10% because most of their loans are short-term. For the state-by-state market behind these numbers see hard money loans in New York and in New Jersey.

New York City. In the five New York City counties the company made 419 loans for $366 million in 2025, median loan $725,000, 292 of them short-term: Kings County (Brooklyn) 160, Queens 130, Bronx 107, Manhattan 11 and Staten Island 11.

The city’s own property records give a longer view. They show every mortgage recorded in Manhattan, the Bronx, Brooklyn and Queens (Staten Island is recorded elsewhere). We searched the party names for “Loan Funder” and kept mortgages where it is the mortgagee. This count is not limited to one-to-four family houses or to loans that HMDA covers, so it will not match the HMDA rows above.

Reading it. For the 21 months from January 1, 2025 to September 30, 2026 the records show 703 mortgages with a median face amount of $539,300: 337 on Brooklyn lots, 199 in Queens, 129 in the Bronx and 38 in Manhattan (our tabulation of each mortgage’s first tax lot). The 337 recorded in the first nine months of 2026 are a pace of 37.4 a month against 30.5 a month in 2025, about 23% faster (our arithmetic). Of the 2,316 mortgages, 2,210 name a numbered series as lender, across 1,635 distinct series names. In 2025 the same records show 211 satisfactions of mortgage (loans paid off) and 140 assignments of mortgage with the company as assignor, then 141 assignments in the first nine months of 2026. A face amount is the amount on the recorded mortgage, which can exceed the cash advanced on day one; ACRIS has no rate or term.

Who ends up holding the loans

HMDA records who bought a loan within the year it was made. The codes are the FFIEC’s: 0 is not applicable (no sale reported in the year), 5 a private securitizer, 72 a life insurance company, 9 another type of purchaser.

Two patterns. First, the 30-year loans mostly stay on the books or go to a buyer HMDA does not classify: 2,457 of 4,461 (55.1%) had no sale reported in 2025, against 89 loans in all of 2024 (our arithmetic). A lender that keeps a larger share of its 30-year loans is carrying more of the credit risk and the funding need itself; the filing does not say how it funds them. Second, the short-term loans are sold on: 1,937 of 4,835 (40.1%) to life insurance companies, 1,657 (34.3%) to other purchasers, 1,231 (25.5%) to private securitizers, and 10 unsold (our arithmetic). That fits the record in New York City, where the company is the assignor on 140 recorded assignments of mortgage in 2025 against 366 new mortgages, and it means the company you close with may not be the one you pay or extend with. Ask who services the loan. For the same question at other lenders see our Conventus Lending review and our RCN Capital review.

Applications, withdrawals and denials in 2025

“Of decided” counts originated plus denied files, since the file has no approved-not-accepted records in 2025 (percentages are our arithmetic). The first-listed denial reason was credit history in 1,492 of 2,542 denials (58.7%), collateral in 681 (26.8%), employment history in 236, unverifiable information in 109, insufficient cash in 15, an incomplete application in 6 and debt-to-income ratio in 3. Credit history was also first in 1,768 of 2,778 denials in 2024, with collateral first in 1,010. Credit history, a borrower factor, was the first reason in most denials; collateral came second. Withdrawals are the bigger leak: 41.6% of applications ended with the applicant walking away, and HMDA does not say why. Shopping several lenders and the quote changing after underwriting would both produce it.

Complaints, licences and court records

CFPB. On October 21, 2026 we searched the CFPB Consumer Complaint Database, which the CFPB’s own file marks as updated that day. A company-field search for “Loan Funder LLC” returns 0 complaints. A search on “Loan Funder” returns two other companies (FundLoans Capital and Community Loan Fund of New Jersey, Inc.). The database covers consumer financial products and business-purpose borrowers use it far less, so zero is a weak signal about a lender whose book is all investor loans. It is still the right first search, and it is clean.

California. The California Department of Business Oversight (now the Department of Financial Protection and Innovation) issued an order on April 3, 2019 summarily revoking the finance lender and broker licence 60DBO-69051 of Loan Funder LLC because it had not filed its annual report. On April 10, 2019 the company filed the report, 17 business days late, and in a settlement agreement dated April 19, 2019 the Commissioner rescinded the revocation against an administrative penalty of $6,500. The agreement records that the company “operates one branch office in California” and had represented that it “had taken no new applications under its license” during the proceedings. We did not find the licence’s status today: the department’s page was last updated September 20, 2024 and its search tool cannot be queried by script. HMDA shows the company made 197 loans in California in 2025 ($167 million, 163 of them short-term), so check licensing before you borrow there.

New York and NMLS. New York’s open corporate-entity file has no active entity whose name begins “Loan Funder”, which suggests the LLC is organized in another state; we have not identified which. NMLS Consumer Access returned an access-denied error to our automated request on October 21, 2026, so we could not read the company’s NMLS number or state licences. Look them up yourself. A business-purpose lender may not need a licence in every state, and this page does not say which states require one.

Courts. Two court records name the company as a party, and neither is a finding of wrongdoing by it:

• A published opinion of the Court of Appeals of Virginia, Record No. 0784-24-4, dated January 20, 2026, in Loan Funder LLC, Series 715 v. Farm Life, LLC. The trial court had quieted title for the borrower company and declared void a deed of trust in favor of the Loan Funder series. The opinion says the loan was “taken out by one of Farm Life’s managers” without the knowledge or consent of the other managers and members, that RCN was the initial lender, and that “Loan Funder soon took on the role of lender on Farm Life’s loan and conducted its own independent review and underwriting.” The appeals court held that the trial court should have applied a different subsection of the Virginia LLC Act, then said “this error was harmless” and affirmed, because the evidence showed the borrower company was not bound. The trial court had also ruled for Loan Funder on the borrower’s slander-of-title claim. For a borrower the lesson is about authority: a lender in this business is exposed to loans made by a person who could not bind the borrowing entity, and the borrowing entity’s operating agreement matters.
• An Appellate Division, Second Department decision of March 26, 2025, 2025 NY Slip Op 01795 (Index No. 614283/21), captioned Loan Funder, LLC, Series 8800 v. Suffolk Home Rehab, LLC, “an action to foreclose a mortgage.” The appeal was between co-defendants over cross-claims of fraudulent inducement and unjust enrichment; the company was the plaintiff and not a party to the ruling. It shows that the company forecloses in the name of the numbered series.

What we could not establish

• Ownership and affiliations. We found no filing that names the company’s owner or parent. One SEC filing mentions it indirectly: an exhibit to a Form ABS-15G filed on February 28, 2024 by Grove III 2024-1 Depositor LLC, a due-diligence exceptions report on a securitized pool, includes a seller comment dated March 30, 2023 reading “Note Allonge attached to show loan funder llc is a lender,” in an exception that cites “ROC allows up to 120 days for repeat borrowers.” The report does not define “ROC” or say who owns Loan Funder. If you are weighing lenders in the same space, our Roc360 review is separate and makes no claim about this company.
• Program terms. The company’s website shows none. Points, extension fees, draw rules, prepayment terms and minimum credit scores are not public in anything we could read, and HMDA leaves them blank for business-purpose loans.
• Servicing and complaints elsewhere. We did not search the Better Business Bureau or review sites; we do not have a saved, dated source for them.
• Licences. NMLS and state licence status, see above.

What a reader can do with this

• Decide which product you are shopping for. A 12-month interest-only loan at a median 10.75% and a 30-year loan at a median 7.40% are different decisions. If a broker quotes “Loan Funder” without saying which, ask for the term sheet.
• Get the full price in writing: rate, points, origination and underwriting fees, extension fees, default interest and the prepayment term. HMDA has none of them for these loans.
• Plan the exit before you sign a balloon. 4,835 loans in 2025 were due in a lump sum, 4,685 of them after 12 months. If the plan is to refinance into a rental loan, see what a DSCR loan is and DSCR loan rates 2026, and ask what the extension costs if the refinance is late.
• Ask for the exact lender name and who services the loan. The recorded lender is often a numbered series, and short-term loans are frequently sold.
• Check the lender in your borough’s records. In New York City the lender’s name will appear in ACRIS on recorded mortgages. For anywhere else, look at your county recorder. See also is this DSCR lender legit?.
• Look up licences yourself on NMLS Consumer Access and with your state regulator, especially in California, where the company has a licence history.
• Compare at least one other lender the same day. In 2025 a bit more than half of Loan Funder’s applications did not close.

FAQ

Sources, read October 21, 2026: FFIEC HMDA loan-level files and aggregation totals for 2023 to 2025 and the filer lists for 2022 to 2025 (CFPB Data Browser, LEI 254900RUCO27MVGTO768), tabulated by us with the filters action taken = 1 for originations, balloon payment = 1 for short-term and a 360-month term for 30-year loans; the FFIEC LAR data-field definitions; the CFPB Consumer Complaint Database search API; New York City ACRIS open data (Real Property Parties, Master and Legals) downloaded October 21, 2026 and the New York Department of State active-entity open data; California Department of Business Oversight order of April 3, 2019 and settlement agreement of April 19, 2019 for licence 60DBO-69051 and the department’s enforcement page; the Court of Appeals of Virginia opinion in Record No. 0784-24-4 (January 20, 2026) and the Appellate Division, Second Department decision 2025 NY Slip Op 01795 (March 26, 2025); an SEC Form ABS-15G exhibit filed February 28, 2024; the home page of loanfunderusa.com. This is analysis of public records, not investment, legal, lending or tax advice. We have no commercial relationship with Loan Funder LLC; Kiavi is a paid link.