"HEIs provide homeowners a lump sum of cash in exchange for a share of their home's appreciation, which can be used to pay off debt, complete renovations and cover other expenses. The investment is typically repaid when the home is sold or the mortgage is refinanced. According to Splitero, its product does not require income verification and does not involve monthly payments. The company offers a proprietary Maturity Match platform that aligns the HEI term length with the homeowner's remaining primary mortgage timeline."
"In December 2024, Splitero announced a purchase commitment from funds managed by asset manager Blue Owl Capital. The funds acquired $350 million of HEIs and Splitero expanded to several new states shortly thereafter. We are pleased to support Splitero's inaugural securitization and deepen our relationship as they scale a solution that aligns the interests of homeowners and institutional investors, Ivan Zinn, head of alternative credit at Blue Owl, said in a statement."
Splitero offers home equity investments (HEIs) that provide homeowners a lump sum in exchange for a share of future home appreciation, with repayment upon sale or mortgage refinance. The product requires no income verification and involves no monthly payments. A proprietary Maturity Match platform aligns HEI term lengths with homeowners’ remaining primary mortgage timelines. In December 2024, funds managed by Blue Owl Capital committed to purchase $350 million of HEIs and Splitero expanded into several new states. Splitero Trust 2025-1 issued multiple rated tranches totaling $283.3 million, with Barclays and Nomura serving as structuring agent and bookrunner.
Read at www.housingwire.com
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