Renovo History
What year was Renovo founded?
2011
How many experience does a builder need to qualify for builder pro tier 1+?
10
What is our Renovo podcast called?
The Hustle Harder Show
What’s our min FICO?
680
Closing works with our legal counsel to review title to make sure there are no risks to our lien position. What lien position does Renovo have to be in/do we need to ensure we're in?
1st lien position
What is the name of the original equity firm who backed Renovo?
Granite Creek Partners
True or false: Renovo's Global DSCR calculation includes income and expense for ALL rentals held owned by the borrower.
False, It only includes rentals financed by Renovo and not properties that the borrower owns financed by other lenders.
What is an artifact?
A discovery call where an LO and potential client are trying to determine mutual fit with Renovo.
How much time does a Closer need to prep for a closing for bridge & term loans?
The Closer will need 3 business days to close on a bridge loan and 4 business days to close on a term loan.
Approximately how much volume did we close in 2024?
$2.56B
In a term loan, A borrower can pay up to ____% per year without realizing triggering a prepayment penalty
20%
How many lenders do we have at Renovo?
43
When is an Environmental Study needed?
An Environmental Study is ordered for any loan over $3M and/or with 9+ units.
What does "NPS" stand for?
Net Promoter Score
What does DORI stand for?
Database of Renovo Intel
A phrase that translates to "on equal footing" or "with equal step", used at renovo to describe a specific structure to funding a budget or SOW.
Parri-Passu
Besides members of our Executive team, who is the employee who has been at Renovo the longest?
Andie Sismour
True or False: We should be collecting tax returns
False.
How many Closers do we currently have?
30
What is the first market opened up outside of Chicago?
Texas
_______ is king.
Cash
Who are the 9 teammates that make up the Renovo Executive team?
Kevin Werner (CEO), Daniel Rosen (CLO), Dan McLaughlin (CFO), Remi Gangarossa (COO), Brett Sims (CGO), Darren Weaver (CCO), Steven Klemp (CSO), Chris Van Sickle (CAO), Tonya Wallach (CPO)
What are the three exceptions that are required to be cleared pre-loi?
Geo, FICO, LTV
Paying down additional principal will _____ a loan, will lead to a faster pay-down of the loan, and, consequently a shorter repayment period and lower overall interest paid
Hyper-amortize