CoFi was created out of necessity. The Real Estate market crash of 2008 that caused many financial institution failures led to many lenders and their regulators creating checkpoints and systems that protect the lenders from taking on too much risk. These systems and processes for paying on construction loans have also created a labor intensive, non-automatic, approach to managing their portfolios. Recognizing the pain lenders experience every day, CoFi knew there had to be a better way.
Meet the Team