Easy Street Capital Review 2026: $2B+ Originated, Two $175M Unrated RTL Securitizations, BBB F-Rated

Correction, September 28, 2026. This review described Easy Street's regulatory record as clean, with no public consent order, and did not mention California. California's DFPI lists an enforcement-action page for Easy Street Capital CA, LLC (DFPI page). We read the orders on September 28, 2026: on April 3, 2020 California summarily revoked both of its finance-lender licenses (60DBO-97686 and 60DBO-99708) because its annual report due March 15, 2020 had not been filed; it filed 36 business days late, and a May 6, 2020 consent order rescinded the revocation with a $1,000 penalty. See our check of 20 DSCR lenders.

Why this review exists

The top organic results for "easy street capital review" on Google as of May 2026 are HonestCasa, Real Estate Skills, and HardMoneyHome.com aggregator pages, plus a Trustpilot aggregate with a small review count and a BiggerPockets thread titled "Easy Street Capital (Legit or No?)". None of those tell investors what they actually need to know: that Easy Street has executed two unrated RTL securitizations totaling $350 million in 2025, that the second priced at a record-tight A1 spread, that the company runs one of the most aggressive DSCR programs in the country (0.75 minimum, AirDNA-friendly), AND that its California BBB profile carries an F rating with multiple documented post-close servicing complaints tied to Fay Servicing.

We are correcting that gap with primary sources: GlobeNewswire press releases, the company's own press section, the American Association of Private Lenders, the Texas Third Court of Appeals decision in Robert Penta v. Easy Street Capital LLC (No. 03-21-00606-CV), NMLS Consumer Access, and California DFPI/DRE license registries.

We have no affiliate relationship with Easy Street Capital. We earn nothing if you contact them. Every link to easystreetcap.com is a generic destination URL.

1. Company background

Founding (2016). Easy Street Capital, LLC was founded in 2016 in Austin, Texas by Stephen Hagerman. Hagerman is listed as President and founder on the company's own leadership page. His background per the same page: a Bachelor of Science in Business Administration from the University of Kansas, career start at Buchanan Street Partners (a commercial real estate private equity firm in Newport Beach, CA, where he transacted on more than $1 billion in multi-family, retail, office, industrial, and hotel deals), a California Real Estate Broker license, and lifetime totals of approximately $2.5 billion in residential investments, 2,500+ residential properties acquired/renovated/sold, and $100M+ in capital raised and managed prior to scaling Easy Street.

Ownership. Easy Street Capital is privately held. There is no public record of a private-equity buyout, a venture round, or an institutional acquisition. Crunchbase lists one disclosed "funding round" — and that entry is actually the June 4, 2025 $175M RTL securitization booked as Debt Financing, not an equity round. Estimated revenue per third-party data brokers (ZoomInfo, Growjo) sits in the $250M–$500M band as of late 2025, though those figures are estimates and [UNVERIFIED] against company disclosures.

Partners and leadership. Per easystreetcap.com/leadership-team, the senior team is:

• Stephen Hagerman — President, Founder
• Casey Denton — Senior Partner (operations and investor relations; UT-area background, Azusa Pacific BBA, licensed Texas real estate agent and Mortgage Loan Originator; named spokesman on both 2025 securitizations)
• Robin Simon — Partner (oversees the EasyRent DSCR platform; frequent IMN conference speaker on DSCR / STR / RTL panels)
• Scott Townes — Partner
• Gray Cato — Partner
• Collin Duffy — Partner

Locations. Headquartered in Austin, Texas. A separate Easy Street Capital CA, LLC entity operates from Irvine, California (where the BBB profile is registered).

Origination history (verified):

• 2016: Easy Street Capital founded by Stephen Hagerman in Austin
• October 27, 2022: Surpasses $1B in 2022 YTD bridge originations per company press release distributed via the American Association of Private Lenders
• 2023: Surpasses $1B again in calendar-year originations
• 2024: Record $1.2 billion in originations, a 20% year-over-year increase — confirmed in the June 4, 2025 securitization press release
• June 4, 2025: Closes first $175M RTL securitization, becoming the third unrated issuer to debut an RTL securitization in 2025
• August 20, 2025: Increases RTL per-unit limits to $5M+, up from $2M per unit
• November 13, 2025: Closes second $175M RTL securitization; A1 class priced at I+205 bps, tied for tightest unrated A1 spread in RTL history, 55 bps inside the June 2025 deal, 14 investors participated
• May 2026: Cumulative lifetime originations are approximately $2 billion+ per third-party aggregator commentary; [UNVERIFIED] as an exact corporate figure because Easy Street has not published a definitive lifetime tally in primary press releases

Employee count. Approximately 137 employees as of September 2024, rising to approx. 146 across multiple continents (North America, Europe, South America) by December 2025 per third-party staffing trackers. The Private Lender Link directory profile lists a much lower "15 employees" figure that appears to be outdated — the headcount has grown materially during the 2023–2025 securitization buildout. Treat the 137–146 range as the credible band.

2. Loan products in detail

Sourced directly from easystreetcap.com. Easy Street brands its three flagship programs as EasyFix, EasyRent, and EasyBuild.

2.1 EasyFix — fix-and-flip / bridge

• Rates: Starting at 8.90% (interest-only)
• Terms: 6–18 months with extension options
• Loan amounts: $75K to $5M+
• Maximum LTC: Up to 93% LTC (typically 90% purchase + 100% of renovation)
• Maximum ARV: Up to 75% ARV
• Minimum FICO: 600 (one of the lowest in the BPL category)
• Points: 0–2 points
• Document fee: $1,995 flat
• Closing speed: 24-hour term sheets, 24-hour closings per Easy Street's homepage and EasyFix terms box, October 8, 2026 (an FAQ on the EasyFix page says as little as 48 hours) (one of the fastest published timelines in the industry, with no appraisal required on most files)
• Draws: Fastest draw process at approximately 48 hours
• Eligible property types: 1–8 unit residential investment; up to 10–20 units on select RTL files
• States excluded: Louisiana, Minnesota, North Dakota, South Dakota; metro-level carve-outs in Baltimore, Chicago, and Detroit

2.2 EasyRent — 30-year DSCR rental

• Rates: Starting at 5.75% (advertised floor for top-tier borrowers)
• Term: 30-year fixed primary; partial interest-only for the first 10 years then 20-year amortization available; 5-year hybrid ARM (5 fixed / 25 adjustable) available
• Loan amounts: $100,000–$3.5M standard; $225,000–$5M for blanket/portfolio loans
• Minimum property value: $100,000 (portfolio floor: $75,000)
• Minimum FICO: 640 (industry-low; Kiavi typically requires 660+, RCN 660+, LendingOne 680+)
• Minimum DSCR: No minimum DSCR — Easy Street publicly markets that it will go to 0.75 DSCR (and lower in some scenarios), which is more aggressive than Kiavi (1.0), Lima One (1.10 typical), and LendingOne's standard programs (LendingOne has a separate "No DSCR" program — Easy Street's floor sits in the same tier)
• Max LTV (purchase or rate-term refi): 80%
• Max LTV (cash-out refi): 75%
• DTI: Easy Street does not use DTI
• Reserves: 3–9 months of PITIA liquid
• Short-term rental: Easy Street was an early lender to underwrite AirDNA projection income on the property rather than long-term-rental comparables; STR markets are not restricted to occupancy floors or non-rural status
• Foreign nationals: Eligible as resident aliens or via LLC with 50%+ US-citizen or green-card ownership
• States excluded: North Dakota and South Dakota only
• Prepayment penalty: Typically structured as 5/4/3/2/1 declining, with flexible alternatives

2.3 EasyBuild — ground-up construction

• Rates: EasyBuild's own page (read October 8, 2026) contradicts itself: the terms box says rates starting at 8.90%, while the FAQ on the same page says starting at 9.90%, zero to two points, and a $1,995 document fee
• Terms: 9–24 months with extension options (terms box, page read October 8, 2026)
• Loan amounts: $75K–$5M+ (terms box, page read October 8, 2026)
• Minimum FICO: 680
• Maximum LTC: Up to 90% LTC; up to 100% of construction costs
• Closing speed: As fast as 24–48 hours
• Draws: 24–48 hour draw process
• Property types: 1–10 unit residential investment; multi-home developments eligible
• States excluded: Louisiana, Minnesota, North Dakota, South Dakota, plus Baltimore, Chicago, and Detroit metro-level carve-outs

2.4 Signature Broker Loan Program

Easy Street operates a wholesale/broker channel (the Signature Broker program) and a dedicated TPO (third-party origination) team led by Dustin Gayer (Head of TPO per LinkedIn). Wholesale-to-direct mix is [UNVERIFIED] as a published percentage.

Geographic footprint

EasyRent lends in 48 states (excluding ND and SD). EasyFix and EasyBuild lend in 45 states with carve-outs — no LA, MN, ND, SD plus metro-level exclusions in Baltimore, Chicago, and Detroit. Rabbu's lender directory lists Easy Street as licensed in 49 states for at least one product line.

3. Pricing analysis

Where Easy Street wins on pricing. The combination of an 8.90% EasyFix floor, 600 FICO, 24-hour term sheets, 24-hour closings (per its site, October 8, 2026), and no appraisal is genuinely best-in-class for low-FICO, time-sensitive flippers. On the rental side, the 5.75% advertised floor + no DSCR minimum + 640 FICO + AirDNA STR income is the most aggressive standard program among the top 10 national BPL lenders. For a low-income-history, high-cash-flow STR investor, no major peer is meaningfully more flexible.

Where Easy Street loses on pricing. Real-world fix-and-flip pricing reportedly ranges 9% to 13.9%+ per HonestCasa and Real Estate Skills aggregator reviews. The 8.90% floor is a marketing anchor for top-tier 720+ FICO repeat borrowers — typical borrowers see meaningfully higher rates. Origination points can reach 1.5%–4% on EasyFix per aggregator data; the $1,995 doc fee is hard-coded regardless of loan size.

The deposit risk. Multiple BiggerPockets threads document non-refundable wired deposits (e.g., $2,500) that borrowers lost when deals fell through — including for files that were declined late by Easy Street's underwriting. Get your deposit terms in writing, with refund conditions explicitly enumerated, before you wire.

4. Capital sources and securitization

This is the area where Easy Street has changed the most in 2024–2025, and where the company differentiates itself versus second-tier peers.

Warehouse lines. Easy Street funds originations primarily on bank warehouse facilities. Specific counterparties are [UNVERIFIED in public disclosure] — unlike Kiavi or Roc360, Easy Street has not publicly named its warehouse lenders.

Securitization shelf (now active).

• June 4, 2025: First $175M RTL securitization. Unrated. Third unrated issuer to debut an RTL securitization in 2025. Per company release, "Lower rates will better support investors pursuing various real estate projects such as urban fix-and-flips, ground-up construction projects, or single-family rentals" — Casey Denton, Partner. Lead manager, co-managers, and trust name are [UNVERIFIED in primary sources] — the press release does not name them.
• November 13, 2025: Second $175M RTL securitization. Unrated. A1 class priced at I+205 basis points — tied for the tightest unrated A1 spread in RTL market history, and 55 basis points inside the May/June 2025 debut deal. 14 institutional investors participated. Lead manager and co-managers again [UNVERIFIED in primary sources].

What "unrated" means. Unlike Kiavi (which issues rated transactions under its LHOME shelf — $6.8B+ across 24 deals per Kiavi's February 2026 release, rated by Morningstar DBRS), Roc360 (Roc Mortgage Trust 2024-RTL1, $237.5M rated by DBRS Morningstar; Roc Mortgage Trust 2025-RTL1, $200M rated by DBRS Morningstar), and Toorak Capital Partners (the first ever rated RTL securitization in 2023, also DBRS Morningstar), Easy Street's two 2025 deals carry no NRSRO rating. Unrated does not mean unsafe — it means the deals were placed privately to sophisticated institutional buyers without paying for an agency credit rating, which is common for newer issuers building track record. The fact that the second deal priced at the tightest unrated A1 spread in RTL history signals real institutional demand and is the most credible data point on Easy Street's capital-markets credibility.

What "third unrated issuer to debut in 2025" means. Per the company's own characterization, Easy Street was the third of multiple new unrated RTL issuers to come to market in 2025. The unrated RTL issuer roster in 2025 also included Cardinal Capital Group ($130M), Groundfloor Lending ($82M), and others; rated issuers included Kiavi, Roc360, Toorak, Archwest Capital, Fidelis Investors, and Arixa Capital. KBRA reported that aggregate RTL securitization volume surpassed $7 billion in 2024 and expanded in 2025 — Easy Street has now placed itself inside that capital-markets ecosystem.

Crunchbase note. Crunchbase shows a single "Debt Financing" round dated 2025-06-04 for $175,000,000 — that entry is the June 2025 securitization, not an equity raise. Crunchbase does not show any equity funding rounds for Easy Street as of May 2026, consistent with founder ownership.

5. Servicing & operations

Servicing model: Transferred to Fay Servicing post-close on a documented basis.

Multiple 2025 BiggerPockets posts and aggregator reviews document that Easy Street Capital transfers loans to Fay Servicing, LLC shortly after closing. The most consequential public account, the BiggerPockets thread titled "Do NOT Use Easy Street Capital or Fay Servicing – My Escrow Is at Risk," reports a fact pattern of:

• Loan originated in February (year specified as 2025 in the thread)
• Transferred to Fay Servicing in April without borrower notification per the poster
• Fay's initial payoff statement allegedly overstated the balance by approx. $60,000
• Lien not released 23 days after payoff
• Two additional withdrawals from the account after payoff
• Easy Street allegedly unresponsive after the servicing transfer

This is a single first-person account that has not been independently audited, but the pattern matches BBB complaint themes documented at the California profile — communication breakdowns and servicing handoff issues are the most consistent borrower complaint category for Easy Street. Borrowers should set up payment instructions with Fay Servicing immediately upon notice of transfer, retain payoff confirmations and CDs, and demand a written lien-release timeline before payoff.

Easy Street markets "in-house servicing" on its EasyBuild construction product page, particularly with respect to 24–48 hour draws. The most credible read of the public record is a hybrid model: in-house draw and construction-loan servicing during the active rehab/build period, with frequent post-close transfer of stabilized DSCR rental loans to third-party servicers including Fay Servicing.

Technology and originations stack. Easy Street markets a heavily automated workflow: 24-hour term sheets, no-appraisal models, 48-hour draws, in-house ARV underwriting. The company's BPL peers using comparable automation include Kiavi (the category leader for tech-driven hard money) and LendingOne. Specific LOS/CRM platform stack is [UNVERIFIED] in public disclosure.

Appraisal management. Many EasyFix files close without a third-party appraisal — Easy Street uses internal ARV modeling on residential properties of standard configuration. This is the single biggest speed advantage versus a manual-underwriting peer like RCN Capital.

6. Regulatory record

Federal regulators

• CFPB Enforcement actions: No CFPB enforcement action against Easy Street Capital identified as of May 2026 in the CFPB Enforcement Actions database. Business-purpose loans on non-owner-occupied investment property are largely outside TILA/RESPA scope, so consumer-complaint exposure is structurally limited.
• CFPB Consumer Complaint Database: No material complaint pattern identified against Easy Street Capital by name.
• HMDA: Easy Street's business-purpose lending is generally outside HMDA reporting scope.
• SEC EDGAR: A direct full-text EDGAR search for "Easy Street Capital" returns no Form D, 10-K, S-1, or related disclosures as of May 2026. The company is privately held and its 2025 securitizations were private placements to institutional buyers, not SEC-registered offerings.

State regulators

• NMLS Consumer Access: Company NMLS ID 2167568 — verifiable at nmlsconsumeraccess.org
• California (CA) Department of Financial Protection and Innovation: Easy Street Capital CA, LLC is licensed under California Finance Lenders Law CFL #60DBO-97686. California's DFPI lists an enforcement action against Easy Street Capital CA, LLC (DFPI page). On April 3, 2020 the Department of Business Oversight (now DFPI) issued orders summarily revoking licenses 60DBO-97686 and 60DBO-99708 under Financial Code section 22715 because the company had not filed its annual report due March 15, 2020. It filed the report on May 5, 2020, 36 business days late, told the regulator it had taken no new applications under its license, and under a consent order dated May 6, 2020, signed for the company by partner Scott Townes, the revocation was rescinded and it paid a $1,000 administrative penalty (the statutory maximum for that delay was $16,000). Lima One Capital received the same summary revocation the same day. Orders read September 28, 2026.
• California Department of Real Estate: Easy Street Capital is a DBA licensed under BRE #02090209
• Arizona Department of Insurance & Financial Institutions: Mortgage Banker License MB 1035987
• Idaho: MBL-2082167568
• Oregon: State license number 2167568
• Texas: State license 2167568 (Easy Street Capital is headquartered in Texas)

State AG enforcement: None identified against Easy Street Capital as of May 2026.

Federal and state court litigation. The most-cited litigation in public records is Robert Penta v. Easy Street Capital, LLC, an appeal from the 126th District Court of Travis County, decided by the Texas Third Court of Appeals as case number 03-21-00606-CV (decided October 31, 2023). The case caption indicates Mr. Penta was the appellant against Easy Street Capital. The substantive holding of the appeal — and any associated damages or remand — is [UNVERIFIED] in this review because the Justia opinion page returned a 403 error during automated fetching; readers researching this case directly should retrieve the opinion via Texas Courts Online using the case number to confirm holding, ruling, and any outcome on remand. The existence of a single appellate proceeding against a 10-year-old private lender is not unusual and is not, by itself, an indictment.

Bottom line on regulatory record: No CFPB action, no class action identified, no state AG enforcement; California's one action, in 2020, was a summary license revocation for a late annual report, rescinded within five weeks with a $1,000 penalty (see above). The credible operational risks are post-close servicing handoff and deposit-refund disputes, not regulatory exposure.

7. Customer reputation

This is where Easy Street's profile is meaningfully worse than its capital-markets credentials suggest.

Better Business Bureau — Easy Street Capital CA, LLC (Irvine, CA)

• Rating: F
• Reason: "Unresolved customer complaints" per multiple aggregator-summarized reads of the BBB profile (the live BBB page returned 403 to automated fetch; specific complaint counts are [UNVERIFIED] at exact figures)
• Themes: Communication breakdowns, non-refundable deposit losses, last-minute term changes, funding delays, servicing transfer issues
• Accreditation: Not BBB-accredited

The Austin parent entity does not have a single dominant BBB profile; the California subsidiary's F rating is the most prominent and most-cited BBB datapoint. This is the loudest single negative in Easy Street's public record and must be weighed against the company's capital-markets achievements.

Trustpilot (easystreetcap.com)

• Live aggregator returned 403 to automated fetch; available text suggests the public review base is thin (a roughly 12-review base referenced in mid-2025 aggregator commentary), with a polarized 5-star / 1-star distribution — exact current star rating and review count are [UNVERIFIED] as of May 2026
• Common positives: "by far the best" loan officers, fast closings on clean files, competitive STR DSCR terms
• Common negatives: deposit losses on declined files, communication gaps, surprise term changes near closing

BiggerPockets community signal. Multiple active threads (2024–2025): "Easy Street Capital (Legit or No?)", "Easy Street Capital — Asking to wire transfer a deposit", "Do NOT Use Easy Street Capital or Fay Servicing", "Easy Street Capital?" The community signal is consistently polarized: a meaningful minority of borrowers describe materially negative experiences, while a separate group reports clean, fast closings.

Trade media credibility. GlobeNewswire press releases, Manila Times secondary syndication, citybiz, and National Mortgage Professional all covered both 2025 securitizations as legitimate capital-markets events. The American Association of Private Lenders covered the original 2022 $1B milestone. Industry-trade reputational signal is positive and growing.

Verdict on reputation: Polarized. The capital-markets and trade-media reputation is strong and accelerating. The retail-borrower reputation, especially as captured at the BBB and BiggerPockets, is materially worse than peer BPL lenders of similar scale — RCN Capital (4.6 Trustpilot, A+ BBB), Anchor Loans (A+ unaccredited BBB), Kiavi (large positive public review base), all rank meaningfully better on the borrower-experience axis. Borrowers should weigh both signals — Easy Street is real institutional money, but the customer-experience workflow is not consistently buttoned-up.

8. Comparison to Kiavi, RCN, Lima One, Roc360, LendingOne

Plain-English positioning:

• Choose Kiavi when your deal is a 3/2 cosmetic flip on a post-1960 home and speed plus price plus a public-rated securitization shelf all matter
• Choose RCN Capital when your deal is messy — additions, foreign nationals, multifamily, ground-up — and you want a 15-year wholesale-first lender with a clean BBB record
• Choose Lima One when you want NYSE-parent institutional backing and in-house servicing across all product lines
• Choose Roc360 when you want the largest scale, rated public ABS, and multi-brand optionality (Roc Capital, FACo)
• Choose LendingOne when you want a tech-driven Florida shop with the most aggressive published DSCR program in the rated tier
• Choose Easy Street Capital when (a) you need a 600 FICO EasyFix or a 640 FICO / 0.75 DSCR / AirDNA-friendly STR EasyRent, (b) you can close on a 24–48 hour, no-appraisal timeline, and (c) you accept the borrower-experience risk — non-refundable deposits, possible post-close servicing handoff to Fay Servicing, and a BBB record that materially trails peers

9. Pros and cons

10. FAQ

Related coverage

• Best Fix-and-Flip Lender 2026: Forensic Comparison
• Best DSCR Loan Lender 2026: Forensic Comparison — EasyRent vs Visio Rental360 vs Kiavi DSCR vs LendingOne 0.75 — full forensic matrix
• Visio Lending Review 2026 — DSCR pioneer; #1 by 2024 Scotsman Guide volume; useful counter-reference on institutional DSCR specialization
• Center Street Lending Review 2026 — Irvine CA mid-tier BPL peer; $7.3B lifetime; useful contrast on capital-markets opacity
• Kiavi Review 2026
• LendingOne Review 2026
• RCN Capital Review 2026
• Anchor Loans Review 2026
• Roc360 Review 2026
• Velocity Financial Review 2026 (NYSE:VEL) — publicly traded BPL peer with $10.6B in 46 cumulative KBRA-rated securitizations vs Easy Street's two 2025 unrated $175M deals
• Constructive Loans Review 2026 — mostly wholesale BPL competitor (800+ broker partners, 88% of volume); Adamas Trust subsidiary financed through its parent's repurchase agreements and warehouse facilities with eight financial institutions; useful contrast with Easy Street's spot warehouse funding model
• Quontic Bank DSCR Review 2026 — the only FDIC-insured DSCR lender — useful contrast on portfolio retention vs Easy Street's securitization-funded model

Sources

• Easy Street Capital corporate site
• Easy Street Capital — Leadership Team
• Stephen Hagerman bio (Easy Street Capital)
• Casey Denton bio (Easy Street Capital)
• EasyFix fix-and-flip program page
• EasyRent DSCR program page
• EasyBuild construction program page
• Easy Street Capital Closes First $175M RTL Securitization — GlobeNewswire (June 4, 2025)
• Easy Street Capital Closes $175M Second RTL Securitization at Record Pricing — GlobeNewswire (November 13, 2025)
• Easy Street Capital Increases RTL Limits to $5M+ Per Unit — GlobeNewswire (August 20, 2025)
• Easy Street Capital Reaches $1B in Bridge Originations (October 2022) — AAPL
• Easy Street Capital Reaches $1 Billion — Think Realty
• Easy Street Capital Debuts RTL Securitization — National Mortgage Professional
• Easy Street Capital — Crunchbase profile
• Easy Street Capital — Private Lender Link profile
• Easy Street Capital review — Real Estate Skills
• Easy Street Capital DSCR review — HonestCasa
• Easy Street Capital CA LLC — BBB profile (Irvine)
• Trustpilot — Easy Street Capital reviews
• BiggerPockets — "Easy Street Capital (Legit or No?)"
• BiggerPockets — "Do NOT Use Easy Street Capital or Fay Servicing"
• BiggerPockets — "Easy Street Capital — Asking to wire transfer a deposit"
• Robert Penta v. Easy Street Capital, LLC — Texas Third Court of Appeals (03-21-00606-CV)
• NMLS Consumer Access — search Easy Street Capital
• CFPB Enforcement Actions database (no Easy Street Capital hits May 2026)
• RTL Securitizations roster — Private Lender Link
• Fay Servicing corporate site

This review is independent research. We have no affiliate relationship with Easy Street Capital. We earn nothing if you contact them. Last updated May 11, 2026.