LMFA
- LM Funding America, Inc.
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Overview
Company Summary
LM Funding America, Inc. (LMFA) is a company that operates in the specialty finance sector. Their primary focus is on providing funding solutions to community associations, also known as common interest communities (CICs). These CICs include homeowners associations, condo associations, and other similar entities.
LMFA offers a unique and innovative financial product called the Community Funding Vehicle (CFV). Through CFV, LMFA purchases delinquent homeowner association dues from CICs at a discounted rate. By doing so, LMFA provides immediate funding to the CICs, enabling them to address various financial needs and improve cash flow.
The primary objective of LMFA's business model is to help CICs maintain and enhance their communities by allowing them to focus on necessary repairs, maintenance, upgrades, and other important projects. By providing upfront cash and taking over the collection process, LMFA relieves the CICs of the burden of chasing late payments and delinquencies.
In addition to their funding solutions, LMFA also offers other services like assessment collection and lien services. They assist CICs in recovering delinquent assessments and managing the legal aspects of collections, including placing liens on properties.
LM Funding America, Inc. aims to provide efficient and effective financial support to CICs, ensuring the smooth operation and enhancement of community living.