Roc360 Review 2026: The $25B Lender Built on Distressed Acquisitions (CIVIC, FACo, Haus)
Quick Answer
Roc360 (Roc Capital Holdings LLC, NYC, founded 2014) is the third-largest US private real estate lender after Kiavi and Lima One. Lifetime originations approx. $25–28B across a roll-up of brands: Roc Capital (broker/wholesale), Finance of America Commercial / FACo (acquired March 2023), CIVIC Financial Services (acquired May 2023 from collapsing PacWest), and Haus Lending (consolidated into FACo 2024–2025). DSCR rates from 5.39%, fix-and-flip from 8.25%. No retail investor product exists — Roc360 REIT is Reg D 506 / Temasek-anchored institutional only. The biggest red flag for borrowers: CIVIC's Trustpilot rating sits at 1.7/5 across 769 reviews with recurring complaints about hidden cross-collateral language, slow closes, and one explicit allegation of "remove your negative review or we won't fund." Roc360 has not rehabilitated CIVIC's reputation since the 2023 acquisition.
CSV · 10 rows
The data table in this article, as CSV
The 10-row table from this article as CSV: Product, Roc Capital (broker channel), FACo / Haus, CIVIC. Sources are listed in the article.
Why this review exists
If you're shopping for a fix-and-flip or DSCR rental loan in 2026, you've probably seen Roc360 quoted somewhere — possibly under a different brand. The same parent now owns Roc Capital, FACo, CIVIC Financial Services, and (until consolidation) Haus Lending. Most borrowers don't realize they're getting quotes from the same balance sheet under three labels.
This review covers the corporate stack, the rate sheet, the regulatory and reputational record, the securitization trail, and where Roc360 actually wins versus Kiavi and Lima One. We have no affiliate relationship with Roc360 or any of its brands — the company has no retail-investor program. This is a borrower-side review.
The roll-up — what Roc360 actually owns
Roc360 was formed in January 2020 when the founders restructured the original Roc Capital hedge-fund-style real estate lender into a brand-portfolio holding company. Three acquisitions defined the modern company.
| Acquisition | Date | Seller | Notes |
|---|---|---|---|
| Finance of America Commercial (FACo) | March 14, 2023 | Finance of America Companies (NYSE: FOA) | Up to $30M earnout over 3 years. FACo had funded $6B+ across 25,000+ loans pre-deal. |
| CIVIC Financial Services | May 23, 2023 | PacWest Bancorp | Distressed sale during regional banking crisis. Origination assets only — PacWest retained pre-existing CIVIC loans. PacWest had taken a $29M goodwill impairment in Q4 2022 and cut approx. 200 CIVIC jobs in Q1 2023 before the deal. |
| Haus Lending | Pre-2023 (FACo subsidiary) | Inherited via FACo deal | Consolidated 2024-2025; hauslending.com 301-redirects to facolending.com today. |
The CIVIC deal is the load-bearing one. PacWest Bancorp lost roughly 89% of its market cap in 2023 after First Republic's failure triggered $20B+ in deposit runs across regional banks. PacWest sold CIVIC to Roc360 at fire-sale terms (price undisclosed). PacWest itself merged with Banc of California on December 1, 2023 — meaning legacy CIVIC borrowers from before May 2023 are now serviced by Banc of California, not Roc360. This causes ongoing borrower confusion that we'll come back to.
Sources: Roc360's March 2023 FACo acquisition press release, Roc360's May 2023 CIVIC acquisition release, Banking Dive on the PacWest distressed sale, National Mortgage Professional on the 200 CIVIC layoffs Q2 2023.
The Temasek capital backstop
What separates Roc360 from a typical leveraged private lender is the Singapore sovereign wealth fund anchor.
- August 2023: Roc360 launched Roc360 Real Estate Income Trust (a private mortgage REIT) with Temasek as anchor limited partner.
- July 2025: Closed an inaugural $150M Insurance Dedicated Fund with a major US annuity/retirement provider.
- January 8, 2026: Secured an additional $150M from Temasek for the home-renovation lending strategy.
Sources: Roc360's January 2026 Temasek announcement, HousingWire coverage.
For a borrower, the Temasek anchor matters because it reduces the chance of a CIVIC-2023-style scenario — where a parent company in financial stress forces the lending subsidiary to ration originations, re-price mid-deal, or lay off staff. Sovereign wealth fund capital is the most patient capital in the world. That said, a Temasek LP commitment is not Temasek backing every loan — it backs the REIT, which buys loans originated across Roc360's brands. The retail borrower still bears the operational and servicing risk of whichever brand fronts their loan.
Securitization track record (DBRS-only)
Roc360 issues residential transitional loans (RTLs — fix-and-flip / bridge first-liens) into the asset-backed securities market through the RocMortgage Trust shelf, sponsored by the Roc360 REIT.
| Deal | Closed | Size | Rating |
|---|---|---|---|
| Inaugural unrated bridge | 2021 | approx. $200M | Unrated |
| RocMortgage Trust 2024-RTL1 | Nov 7, 2024 | $237.5M | DBRS Morningstar (A1: A; A2: A; M1: BBB; M2: BB; B: B). Class A1 yield 5.6%; M1 6.1%; M2 7.3%; B 9.8%. Two-year revolving. |
| RocMortgage Trust 2025-RTL1 | March 18, 2025 | $200M offered | DBRS Morningstar. Syndicated revolving, oversubscribed. |
| Form ABS-15G filing | February 2026 | — | Reps & warrants disclosure on RocMortgage Trust shelf — typically precedes a new deal. |
Two notes for borrowers reading the capital signal:
- DBRS-only is a single-agency record. Kiavi rates with KBRA. Larger issuers use multiple agencies. Single-agency-rated ABS sells to a narrower buyer base — fine in benign markets, more vulnerable in tight ones. This is structural, not directly your problem as a borrower, but it bounds Roc360's ability to scale issuance through stress.
- Both Roc deals were oversubscribed, which says institutional capital still wants Roc-originated paper at scale — a positive signal of long-term funding stability.
Sources: Roc360's Nov 2024 securitization release, March 2025 release, DBRS 2025-RTL1 final rating report.
Rate sheet (May 2026)
Rates change weekly and depend on FICO, experience, deal type, and channel (broker vs direct). The numbers below are starting/best-case rates published on each Roc360 brand site as of early May 2026.
| Product | Roc Capital (broker channel) | FACo / Haus | CIVIC |
|---|---|---|---|
| Fix-and-flip starting rate | From 8.25% | From 8.49% | From 8.49% |
| DSCR rental starting rate | Not directly advertised | From 5.39% | From 5.39% |
| Bridge starting rate | Standard ranges | From 8.49% | From 8.49% |
| Min loan | $50,000 | Not publicly disclosed | Not publicly disclosed |
| Max loan | $3,000,000 | Risk-based | Risk-based |
| Max LTV (purchase fix-flip) | Up to 75% ARLTV | Risk-based | Risk-based |
| Max LTC | Up to 90% of purchase | Risk-based | Risk-based |
| Rehab funding | Up to 100% of budget | Available | Available |
| Term (fix-flip) | 12 months standard, 18 case-by-case | Standard ranges | Standard ranges |
| Geographic footprint | 45 states (no ND, OR, SD, UT, VT) | National | National |
Source: Roc Capital fix-and-flip terms, FACo / Haus Lending product matrix, CIVIC product matrix.
The DSCR 5.39% starting rate is the most aggressive headline rate in the US private-lender market in early May 2026 — lower than Kiavi's promo (5.75%) and well below Lima One's 7.0% standard. Whether you actually qualify for 5.39% depends on FICO 740+, prior rental experience, low LTV, and deal-level metrics. Treat it as a marketing rate, not an indicative one — our DSCR loan rate study by borrower tier breaks down how far real quotes drift from these advertised floors.
The CIVIC reputation gap (read this section carefully)
Here's where the borrower experience diverges from the institutional-capital-markets story.
Trustpilot: CIVIC sits at 1.7 out of 5 stars across 769 reviews as of April 2025. That's not a borderline score — it's a lender-reputation crisis.
Recurring complaint themes (2024–2025):
- Hidden cross-collateral language tucked into loan documents
- Outrageous fees collected without delivering corresponding services (notably appraisal fees not refunded after deal failure)
- Multi-month closing delays (4-month closes referenced)
- One explicit borrower allegation: instructed to retract a negative online review or have funding withheld
- Servicing handoff confusion (we explain this below)
BBB: CIVIC is not BBB-accredited and has documented failure to respond to complaints. Roc360 (the holding company) IS BBB-accredited as of November 12, 2021 (BBB profile). The corporate-level accreditation has not extended to a CIVIC reputation rehabilitation.
The servicing-handoff trap. This is the most overlooked detail in Roc360 borrower complaints. Pre-May-2023 CIVIC loans were not transferred to Roc360 in the deal — PacWest retained those loans and their servicing. PacWest then merged with Banc of California in December 2023, so legacy CIVIC borrowers (2021–early 2023 originations) are now being serviced by Banc of California's mortgage division. When those borrowers call Roc360 or CIVIC for help, they often get bounced — and that experience drives a meaningful share of the negative reviews. Borrowers who originated after May 2023 are serviced by Roc360 directly through the REIT structure.
Compared to Kiavi and Lima One
| Dimension | Roc360 | Kiavi | Lima One |
|---|---|---|---|
| Fix-flip starting rate | From 8.25% (Roc) / 8.49% (FACo) | From 7.75% | From 7.99% |
| DSCR starting rate | From 5.39% | From 5.75% promo to 7.5%+ | From 7.0% |
| Min loan | $50K (Roc Capital) | approx. $75K | approx. $75-100K |
| Speed (advertised) | Standard 2–4 weeks | 7 business days possible | 10–14 days typical |
| State coverage | 45 states (Roc Capital); national (FACo, CIVIC) | 49 + DC | approx. 46 states |
| Securitization rating | DBRS Morningstar only (2 deals) | KBRA, 24+ deals, $6.8B+ | Via MFA-affiliated entities |
| BBB | Roc 360 LLC accredited Nov 2021; CIVIC not accredited | Not accredited; A-rated; 4 unanswered complaints | A+ accredited |
| Trustpilot | CIVIC: 1.7/5 (769 reviews) | 4.6/5 (739+ reviews) | Mixed; better than CIVIC |
| Public-parent transparency | Private LLC (Reg D); no 10-K | Private (no 10-K) | MFA Financial NYSE: MFA — full SEC reporting |
| Retail investor product | None (Reg D / institutional only) | None (closed Oct 2021) | None |
For deeper comparison context, see our Kiavi vs Lima One head-to-head and our Kiavi review.
Pros and cons
Pros
- Lowest advertised DSCR starting rate (5.39%) in the US private-lender market in May 2026 — if you qualify.
- Lowest minimum loan ($50K via Roc Capital broker channel) — useful for low-cost-market investors.
- Vertically integrated stack: borrower can access lending, captive insurance (Elmsure), captive title (Wimba), and captive appraisal management (Tamarisk) under one roof.
- Temasek-anchored REIT capital base reduces the risk of a parent-driven funding squeeze that has hit other BPL lenders in past tightening cycles.
- Two DBRS-rated securitizations (2024 and 2025) document institutional acceptance of Roc-originated paper at scale.
- Broker-channel reputation (Roc Capital wholesale) is materially better than direct-to-borrower experience — brokers consistently report positive experiences.
Cons
- CIVIC Trustpilot 1.7/5 across 769 reviews is the loudest single data point in the review. Roc360 acquired CIVIC three years ago and the rating has not recovered.
- Recurring borrower complaint pattern: hidden cross-collateral language, slow closes, retained appraisal fees, and one alleged instance of review-retraction-or-no-funding.
- Servicing-handoff trap for legacy CIVIC borrowers: pre-May 2023 loans now serviced by Banc of California (post-PacWest merger), not Roc360. Confusion drives a meaningful share of negative reviews.
- No retail investor product exists. If you're researching an "investment opportunity," there isn't one (Roc360 REIT is Reg D 506 institutional only).
- DBRS-only rated securitizations narrow the institutional-buyer base versus a multi-agency-rated peer.
- Brand consolidation churn (hauslending.com → facolending.com 301-redirect) means borrowers who started at "Haus" are now in "FACo" pipelines — administrative friction during deals in flight.
- No public-parent transparency: Roc Capital Holdings is an LLC with no 10-K, no audited public financials, no MD&A — versus Lima One's MFA Financial NYSE parent.
When Roc360 actually wins for a borrower
Roc360 wins when:
- You're a mortgage broker or correspondent — Roc Capital's wholesale channel is the cleanest of Roc360's three borrower-facing options. Multiple broker-forum reports indicate the wholesale experience is meaningfully better than the direct-to-borrower CIVIC experience.
- You need the smallest possible loan ($50K floor in low-cost markets) and your alternative lenders won't go below $75K.
- You're a top-tier-credit DSCR borrower chasing the lowest published rate (5.39%) and you can wait through a slower close.
- You want vertically integrated insurance + title + appraisal under one corporate umbrella.
Roc360 doesn't win when:
- You're a first- or second-time direct-to-borrower flipper. The CIVIC reputation is real, and the quality gap to Kiavi (7-day close, A-grade BBB, 4.6-star Trustpilot) is wide enough to justify paying 50–100 bps more elsewhere.
- You need parent-level financial transparency. MFA Financial (Lima One's parent) files 10-Ks. Roc Capital Holdings does not.
- You want a lender with a multi-agency-rated securitization track record. Kiavi has 24 deals under the LHOME shelf; Roc has two.
FAQ
Frequently Asked Questions
Related coverage
- Best Fix-and-Flip Lender 2026: Forensic Comparison — verdict matrix across Roc360, Kiavi, Lima One, LendingOne, and four honorable mentions with decision framework
- Anchor Loans Review 2026 — Pretium-backed peer (Don Mullen / $57B AUM) vs Roc360's Temasek-anchored model; both have institutional roll-up DNA
- RCN Capital Review 2026 — wholesale-first 15-year competitor; foundational comparison on securitization-shelf depth (Roc360 has one, RCN does not)
- LendingOne Review 2026 — DSCR specialist competitor; cleanest regulatory record vs Roc360's CIVIC reputational drag
- Lima One Capital Review 2026 (standalone) — NYSE: MFA subsidiary, CA DFPI consent order, S&P Global servicer evaluation — different parent-funding profile vs Roc360's Temasek anchor
- Easy Street Capital Review 2026 — 3rd-unrated RTL securitizer in 2025, smaller-scale Austin TX peer with distinct funding model
- Visio Lending Review 2026 — DSCR pioneer with the institutional securitization-shelf model most comparable to Roc360's Roc Mortgage Trust shelf
- Center Street Lending Review 2026 — Irvine CA mid-tier BPL; useful counter-reference on California-concentrated lenders without rated securitization shelves
- Best DSCR Loan Lender 2026: Forensic Comparison — DSCR matrix covering CIVIC/Haus DSCR vs Visio Rental360 vs Kiavi vs Lima One
- Velocity Financial Review 2026 (NYSE:VEL) — publicly traded peer with $10.6B / 46-deal cumulative securitization shelf — direct comparison on institutional-funded BPL roll-up
- Constructive Loans Review 2026 — Adamas Trust NASDAQ:ADAM captive originator; another REIT-backed BPL roll-up model worth contrasting against Temasek-Roc360
- Quontic Bank DSCR Review 2026 — the only FDIC-insured + CDFI-certified DSCR lender; completely different structural profile from non-bank Roc360
Sources
- Roc Capital Holdings LLC — SEC EDGAR (CIK 1894299)
- Roc Capital Holdings ABS-15G filing, February 2026
- Roc360 — FACo acquisition press release (March 2023)
- Roc360 — CIVIC acquisition press release (May 2023)
- Banking Dive — PacWest distressed sale of CIVIC
- Roc360 — January 2026 additional $150M Temasek investment
- HousingWire — Temasek / Roc360 home-renovation lending
- Roc360 — RocMortgage Trust 2024-RTL1 ($237.5M, DBRS-rated)
- Roc360 — RocMortgage Trust 2025-RTL1 ($200M, DBRS-rated)
- DBRS Morningstar — RocMortgage Trust 2025-RTL1 final rating report
- Roc Capital — fix-and-flip terms
- FACo Lending — product matrix
- CIVIC Financial Services — product matrix
- Trustpilot — CIVIC Financial Services reviews (1.7/5, 769 reviews)
- BBB — CIVIC Financial Services LLC (Redondo Beach, CA)
- BBB — Roc 360 LLC (New York, NY, accredited)
- PacWest Bancorp / Banc of California merger (December 2023)
Last verified: May 7, 2026. Securities filings, securitization data, and product rates change frequently — always confirm against the lender's current website before applying.
Keep reading.
- 0119 min read
Fortress Net Lease REIT (FNLR) Review 2026: Without Its Appraisal Gains, NAV per Unit Has Been Flat Since 2024
Fortress Net Lease REIT (SEC CIK 1966394), the privately placed net-lease NAV REIT sold to accredited investors, read from its 10-Ks, 10-Qs and monthly 8-Ks: NAV of $2.03 billion at June 30, 2026, of which $175.2 million is the adviser's unrealized appreciation; 96% cash-flow coverage that depends on fees paid in units; 26.4% of 2025 purchases bought from Fortress affiliates; and $1.36 billion of debt with an October 16, 2026 maturity date.
- 0217 min read
GTJ REIT Review 2026: Three Prices for One Share — $29.10 NAV, $26.19 to Redeem, $22.35 for the Equity Plan
GTJ REIT (SEC CIK 1368757), the self-managed industrial REIT that grew out of three New York bus companies, values its shares at $29.10 (the bottom of its appraiser's range), redeems about $2 million a year at $26.19 and fills that cap by June, and uses a third figure, $22.35, for its own equity plan. Its NAV has more than doubled since 2016 and its dividend is covered. What the filings show a holder with no other exit.
- 0318 min read
Highlands REIT Review 2026: Ten Years, No Distributions, a $0.29 NAV and One Detention-Center Lease Worth 38% of Its Rent
Highlands REIT (SEC CIK 1661458) was spun out of InvenTrust in 2016 at $0.36 a share. Ten years of filings later: estimated value $0.29, no distribution in any year, one 2023 buyback at $0.14, about $127.5 million of G&A, four annual meetings without a quorum, and a Colorado prison that GEO left in 2020, was written off, and has just been leased back to GEO at rent equal to 38% of the whole portfolio's. What a holder deciding on the $0.20 tender should know.