Fintech Legal Assistant
RenoFi is a venture-backed financial technology company empowering a better way for consumers to finance home renovations.
American homeowners just spent months trapped in their homes. Every single one of them has identified a renovation that would have made their lives immeasurably better. The demand for home renovations will never be stronger once the recovery starts, yet, COVID or not, it's surprisingly difficult for a homeowner to renovate.
The shortage in affordable housing stock and the down payment barriers can result in a decade or more of payments to build up enough home equity and savings to pay for a major renovation. As a result, recent homeowners do a lot of financially-suboptimal things to compensate - like borrow from their 401k, rack up credit card debt, and use high-interest personal loans. Worse, they just live unhappily for years in a home that doesn't meet their family's needs.
RenoFi operates under the principle that by completing a major renovation, homeowners are increasing the value of their homes. Professional real estate investors leverage this After Renovation Value (ARV) to roll the increase in value into new properties all the time. Until RenoFi, there hasn't been a great way for homeowners to take advantage of this.
RenoFi has created a suite of new financial loan products that are based on the expected value of the home post-renovation. By using the After Renovation Value, homeowners unlock the additional equity needed to finance their entire project (sometimes up to 10x the borrowing power) while ensuring they get the lowest rate possible. RenoFi is not the lender; instead, we provide the technology platform to power our lending partners. Our proprietary Renovation Underwriting Platform is what makes RenoFi Loans possible. Mortgage professionals are a great source of consumer demand for our products, We also market our loans directly to homeowners. After an eligibility review and some financial literacy work, they are matched to our lending partners. RenoFi receives a fee for bringing them new customers and leveraging our Renovation Underwriting platform. Importantly, RenoFi is free for homeowners, a win-win-win for everyone.
RenoFi is backed by some of the best startup investors in the world including First Round Capital, Comcast Ventures, and Canaan Partners.
As RenoFi continues to expand across the country our Compliance area is seeing more activity. We are seeking a highly diligent self-starter that can work with our existing team of financial technology professionals.
Our Operation Supervision Group is responsible for a wide variety of activities, from operations to policy creation and supervision. We own the responsibility of ensuring that RenoFi is operating compliantly in all facets of our existing business and working hand-in-hand with cross-functional teams when designing and building new business channels.
- Strong organizational skills to assist our team of professionals in managing our business including licensing efforts, regulatory compliance, and consumer lending.
- Firm understanding of basic legal principles for the purposes of the first-level review of simple agreements and contracts
- Vendor Management familiarity, assisting us in on-boarding new vendors and maintaining existing relationships
- Maintain and coordinate critical events and assist the team in meeting deadlines
- Solid communication skills to effectively interact with C-Suite, cross functional teams, consumers, and vendors
- Ability to field consumer complaints and conduct investigations to remediate ongoing operational issues as they arise
- Minimum 1 - 2 years Licensing experience, preferably in consumer secured and unsecured business lines or 1 - 2 years experience supporting legal and/or compliance functions
- Legal degree and any state bar membership a plus
We are committed to hiring and cultivating a diverse team. If you are uncertain about whether you meet our requirements, please apply anyway!
Read more about RenoFi
Our post announcing our funding: https://www.renofi.com/blog/financing-should-not-be-the-hardest-part-of-renovating/
Blog post by our lead investor announcing his investment in RenoFi: https://www.canaan.com/latest/brendan-dickinson-announcing-our-investment-in-renofi
National coverage by Housing Wire: https://www.housingwire.com/articles/renofi-raises-6-4-million-to-help-lenders-offer-home-renovation-loans/