Toorak Connect Achieves $5 Billion in Facilitated Loans

-- AI Powered Loan Funding Platform Provides Improved and Expanded Data, Resulting in Enhanced Credit Decisioning --

-- Proprietary Technology Has Eliminated 57,000+ Work Hours Since 2022 --

TAMPA, Fla.--(BUSINESS WIRE)--Toorak Capital Partners (“Toorak”), a tech-enabled investment manager of business purpose mortgage loans, announced its AI and machine-learning (ML) powered loan review system Toorak Connect has completed $5 billion in facilitated loans.

Toorak Connect provides an enhanced dataset produced through Toorak’s proprietary loan risk scoring model, resulting in improved credit decision making through a more rigorous and detailed review process. At the same time, automation of significant portions of the loan underwriting process enables more efficient, reliable and transparent loan review and funding, gives full transparency into the review and approval process, and improves overall customer experience.

More than 11,000 loans have flowed through Toorak Connect since the proprietary platform launched in 2022, saving the company more than 57,000 hours of review time and thousands of reams of paper.

“Working with approximately 250 loan originators and brokers, we have passed 1 million documents through our AI/ML document processing model and been able to reduce loan processing time by 80 percent, all while prioritizing our in-depth credit review process,” said Sachin Venugopal, Chief Technology Officer at Toorak. “We’re able to automate processes based on loan and customer characteristics, providing additional scrutiny to those that present higher risk, while simplifying the process for repeat customers and loans that have more standard characteristics.”

Toorak funds the loans that real estate investors use to rehabilitate, reposition, or renovate housing stock in the U.S. and U.K. Historically, the loan underwriting and acquisition process was slow and onerous, with an average loan comprising approximately 50 documents and 500 pages of material. The Toorak Connect AI Engine leverages advanced machine learning algorithms and natural language processing (NLP) to identify and split borrower-submitted documents to extract loan information, cutting down on errors and vastly speeding up the review and decision process – saving an average of five hours per loan.

Furthermore, a robust automation framework facilitates intelligent underwriting, generating real-time exceptions and a dynamic missing document list; a predictive analytics-driven risk model optimizes the review process and enables accurate real-time pricing and risk scoring; and a scalable cloud-based architecture ensures seamless integration and enhanced operational efficiency across platforms.

“Toorak has always looked for ways to streamline our processes while maintaining the highest levels of due diligence, as well as fostering a more efficient and transparent experience for our clients," said John Beacham, Founder and CEO of Toorak Capital Partners. “Toorak Connect has already exceeded these goals and is now central to our efforts to deploy capital to replenish the nation’s housing stock.”

About Toorak Capital Partners

Toorak Capital Partners (“Toorak”) is a tech-enabled investment manager of business-purpose mortgage loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and U.K. Toorak sources loans through strategic partnerships with top loan originators including sister company Merchants Mortgage – responsible for over half of its 1-4 unit residential transition loan (RTL) volume – and also via direct origination including table funding.

With long-term capital commitments from credit funds and accounts managed by KKR, a leading global investment firm, Toorak has revolutionized the way private lenders of business purpose real estate loans access capital. Toorak was among the first to link small-balance commercial and residential originators with institutional capital and recently closed the first-ever rated RTL securitization. Since inception, Toorak has provided more than $14 billion in capital and funded over 35,000 mortgage loans. Toorak-funded projects are expected to renovate, stabilize, or provide rental housing for over 50,000 families. More information is available at www.toorakcapital.com.