What We Do
We service and administer loans for private real estate lenders: payments, statements, escrows, draws, extensions, payoffs and the reporting around them. You keep originating and funding, your borrowers get quick answers, and your capital partners get an independent book of record.
Why We Built Petra
Private lending has changed a lot in a decade, and participations, draws, adjustable rates and interest fronting are now ordinary. Most servicers still run software built for consumer mortgages, so lenders end up with slow payoffs, hand-built investor reporting and a queue instead of a person.
How We Work
We fit our servicing around the way you lend and keep you informed before you need to ask. The platform takes care of the routine, so our people can spend their time where it matters: a difficult borrower, a messy transfer or the reporting your investors need.
Leadership
Joe Dillamore
Founder and CEO
Joe ran a private lending business in the United Kingdom before moving to the US and founding Petra. He saw lenders here held back by servicers that took days to produce a payoff and couldn’t handle a participation, and set out to build the servicer he would have wanted as a lender.
Our partner
Backed by Faes & Co
Faes & Co brings nearly two decades of private lending experience to Petra. Its team has built direct lending businesses in the UK, Ireland, Australia and the US.